Canadian Natural Resources (TSE:CNQ) Cut to Neutral at Gerdes Energy Research

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by analysts at Gerdes Energy Research from a “buy” rating to a “neutral” rating in a report issued on Thursday,BayStreet.CA reports.

A number of other equities analysts have also weighed in on the stock. Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research report on Tuesday, January 6th. Raymond James Financial raised their target price on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Desjardins set a C$52.00 target price on shares of Canadian Natural Resources and gave the company a “hold” rating in a report on Wednesday, December 17th. National Bank Financial increased their price target on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley lowered their price objective on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$54.40.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock traded down C$0.79 during trading on Thursday, reaching C$54.38. The company’s stock had a trading volume of 4,619,819 shares, compared to its average volume of 11,563,589. The company has a 50-day moving average price of C$47.42 and a two-hundred day moving average price of C$45.28. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$55.50. The firm has a market cap of C$113.28 billion, a PE ratio of 17.15, a P/E/G ratio of 0.53 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%.The firm had revenue of C$9.52 billion for the quarter. On average, analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insiders Place Their Bets

In other news, insider Trevor Wagil sold 2,469 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total value of C$111,574.11. Following the completion of the transaction, the insider owned 14,779 shares in the company, valued at C$667,863.01. This trade represents a 14.31% decrease in their ownership of the stock. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

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.