Canadian Natural Resources (TSE:CNQ) Given New C$49.00 Price Target at Desjardins

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price cut by Desjardins from C$51.00 to C$49.00 in a research report released on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts have also issued reports on CNQ. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a C$56.00 price target for the company in a report on Wednesday, March 19th. National Bankshares lowered their price target on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Finally, Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from C$52.00 to C$49.00 in a research report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$59.62.

Canadian Natural Resources Trading Up 0.6 %

Shares of TSE CNQ opened at C$38.21 on Tuesday. The business has a 50-day moving average price of C$41.59 and a two-hundred day moving average price of C$44.74. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$54.30. The firm has a market capitalization of C$80.19 billion, a PE ratio of 10.61, a PEG ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

Insider Activity

In other news, Director Stephen W. Laut bought 980 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was acquired at an average cost of C$44.65 per share, with a total value of C$43,757.00. Also, Senior Officer Dwayne Frederick Giggs purchased 1,400 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of C$36.88 per share, for a total transaction of C$51,631.02. Insiders sold 47,184 shares of company stock worth $2,047,408 over the last quarter. 4.26% of the stock is currently 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.