Canadian Natural Resources Limited (TSE:CNQ) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$59.62.

CNQ has been the subject of several analyst reports. Desjardins dropped their target price on Canadian Natural Resources from C$51.00 to C$49.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group dropped their price objective on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating and lowered their target price for the company from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Finally, Evercore ISI raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th.

Canadian Natural Resources Trading Up 2.1 %

Shares of CNQ opened at C$39.88 on Monday. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$53.46. The company has a market capitalization of C$83.69 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The stock has a fifty day moving average of C$41.33 and a two-hundred day moving average of C$44.63. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Director Stephen W. Laut purchased 980 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were acquired at an average price of C$44.65 per share, for a total transaction of C$43,757.00. Also, Senior Officer Devin Craig Lowe sold 7,500 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of C$44.91, for a total value of C$336,795.00. Insiders sold 47,184 shares of company stock valued at $2,047,408 over the last quarter. 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.