Canadian Natural Resources Limited (TSE:CNQ) Receives C$54.08 Average Price Target from Analysts

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$54.08.

A number of analysts recently issued reports on CNQ shares. National Bankshares reduced their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company reduced their price objective on Canadian Natural Resources from C$44.00 to C$40.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price objective on Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from C$52.00 to C$49.00 in a research report on Wednesday, April 9th.

Insider Buying and Selling

In related news, Senior Officer Calvin John Bast sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of C$41.80, for a total transaction of C$313,500.00. Also, Director Stephen W. Laut purchased 980 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was purchased at an average cost of C$44.65 per share, with a total value of C$43,757.00. In the last 90 days, insiders sold 39,004 shares of company stock valued at $1,689,802. Insiders own 4.26% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ opened at C$42.90 on Friday. The stock has a market cap of C$90.03 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$53.03. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The stock has a fifty day moving average price of C$41.21 and a 200 day moving average price of C$43.52.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.