Canadian Natural Resources (TSE:CNQ) Downgraded to Hold at Desjardins

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BayStreet.CA reports. They currently have a C$110.00 price objective on the stock, up from their prior price objective of C$104.00. Desjardins’ target price suggests a potential upside of 4.92% from the stock’s current price.

CNQ has been the subject of a number of other research reports. National Bankshares lifted their price objective on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the company a “sector perform” rating in a report on Friday. Stifel Nicolaus boosted their target price on shares of Canadian Natural Resources from C$110.00 to C$126.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets upped their price objective on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a report on Thursday, March 28th. TD Securities upped their price objective on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Scotiabank upped their price objective on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$111.00.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ traded down C$0.33 during midday trading on Tuesday, reaching C$104.84. 1,709,600 shares of the company were exchanged, compared to its average volume of 6,302,182. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. The business’s fifty day moving average is C$98.90 and its two-hundred day moving average is C$91.39. Canadian Natural Resources has a one year low of C$69.83 and a one year high of C$112.99. The stock has a market cap of C$112.18 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, beating the consensus estimate of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. The business had revenue of C$9.55 billion during the quarter, compared to analyst estimates of C$9.04 billion. As a group, analysts predict that Canadian Natural Resources will post 7.6092114 earnings per share for the current year.

Insider Transactions at Canadian Natural Resources

In related news, Senior Officer Erin Louise Lunn sold 3,664 shares of Canadian Natural Resources stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total value of C$130,419.35. In other news, Senior Officer Warren Paul Raczynski sold 3,000 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. Also, Senior Officer Erin Louise Lunn sold 3,664 shares of Canadian Natural Resources stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$35.59, for a total value of C$130,419.35. Over the last ninety days, insiders have sold 332,363 shares of company stock worth $32,567,851. Insiders own 2.20% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).