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

Canadian Natural Resources (TSE:CNQGet Rating) (NYSE:CNQ) was downgraded by stock analysts at Scotiabank to a “hold” rating in a report released on Wednesday, TipRanks reports. They currently have a C$91.00 target price on the stock. Scotiabank’s price objective would suggest a potential upside of 5.78% from the company’s previous close.

CNQ has been the topic of several other reports. Credit Suisse Group raised their price objective on Canadian Natural Resources to C$93.00 and gave the company an “outperform” rating in a research note on Monday, May 9th. BMO Capital Markets raised their target price on Canadian Natural Resources from C$92.00 to C$95.00 in a research report on Friday, May 6th. TD Securities raised their target price on Canadian Natural Resources from C$90.00 to C$94.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Stifel Nicolaus raised their target price on Canadian Natural Resources from C$100.00 to C$111.00 in a research report on Friday, May 6th. Finally, National Bankshares decreased their target price on Canadian Natural Resources from C$100.00 to C$90.00 in a research report on Thursday, April 14th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$77.77.

Shares of CNQ traded up C$0.05 during trading hours on Wednesday, reaching C$86.03. The stock had a trading volume of 1,019,565 shares, compared to its average volume of 5,746,057. Canadian Natural Resources has a 12 month low of C$37.82 and a 12 month high of C$88.18. The firm has a 50-day simple moving average of C$81.07 and a 200 day simple moving average of C$69.60. The company has a current ratio of 0.75, a quick ratio of 0.54 and a debt-to-equity ratio of 40.17. The company has a market capitalization of C$99.31 billion and a price-to-earnings ratio of 10.86.

Canadian Natural Resources (TSE:CNQGet Rating) (NYSE:CNQ) last issued its earnings results on Thursday, May 5th. The company reported C$2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.45 by C$0.41. The firm had revenue of C$10.68 billion during the quarter, compared to the consensus estimate of C$8.95 billion. On average, equities analysts forecast that Canadian Natural Resources will post 9.0799994 EPS for the current year.

In related news, Senior Officer Corey B. Bieber sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of C$73.90, for a total value of C$147,800.00. Also, Senior Officer William Robert Peterson sold 9,500 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of C$77.22, for a total value of C$733,570.05. Following the completion of the sale, the insider now owns 110,703 shares of the company’s stock, valued at approximately C$8,548,253.18. In the last quarter, insiders have sold 279,697 shares of company stock valued at $22,826,081.

About Canadian Natural Resources (Get Rating)

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

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