Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$54.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price boosted by analysts at Canadian Imperial Bank of Commerce from C$52.00 to C$54.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential downside of 19.21% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Evercore downgraded 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 note on Tuesday, January 6th. Morgan Stanley lowered their price objective on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. BMO Capital Markets boosted their target price on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Jefferies Financial Group raised their price target on shares of Canadian Natural Resources from C$48.00 to C$59.00 in a report on Monday, March 16th. Finally, National Bank Financial increased their price objective on shares of Canadian Natural Resources from C$54.00 to C$59.00 and gave the stock a “sector perform” rating in a research report on Friday, March 6th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$61.31.

Canadian Natural Resources Price Performance

Shares of CNQ traded down C$1.99 during mid-day trading on Tuesday, reaching C$66.84. The company had a trading volume of 4,812,907 shares, compared to its average volume of 16,394,777. The company’s 50 day simple moving average is C$58.56 and its 200 day simple moving average is C$49.92. The company has a market capitalization of C$139.48 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.53 and a beta of 0.81. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$70.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. The business had revenue of C$9.61 billion during the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. Analysts expect that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Activity at Canadian Natural Resources

In other news, insider Erin Louise Lunn sold 2,252 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the transaction, the insider directly owned 51,142 shares of the company’s stock, valued at C$2,540,734.56. This represents a 4.22% decrease in their position. Also, Director Gordon D. Giffin sold 25,000 shares of Canadian Natural Resources stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the completion of the sale, the director directly owned 171,210 shares of the company’s stock, valued at approximately C$11,643,992.10. This trade represents a 12.74% decrease in their position. Over the last ninety days, insiders sold 74,306 shares of company stock worth $4,159,750. 4.26% of the stock is owned by company insiders.

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.