Wells Fargo & Company Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$42.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price boosted by investment analysts at Wells Fargo & Company from C$40.00 to C$42.00 in a note issued to investors on Thursday,BayStreet.CA reports. Wells Fargo & Company‘s price target points to a potential downside of 1.43% from the company’s current price.

CNQ has been the subject of several other research reports. CIBC raised their price objective on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. 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. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a C$56.00 price objective for the company in a research note on Wednesday, March 19th. Jefferies Financial Group decreased 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$54.25.

Canadian Natural Resources Stock Down 0.4%

Shares of TSE:CNQ opened at C$42.61 on Thursday. 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 has a 12 month low of C$34.92 and a 12 month high of C$53.03. The company has a 50-day moving average price of C$41.26 and a 200 day moving average price of C$43.41. The company has a market cap of C$89.42 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.53 and a beta of 1.89.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,504 shares of Canadian Natural Resources stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$40.86, for a total value of C$184,046.95. Also, Director Stephen W. Laut sold 2,500 shares of Canadian Natural Resources stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of C$42.02, for a total transaction of C$105,050.00. Insiders have sold a total of 39,004 shares of company stock valued at $1,689,802 over the last ninety days. 4.26% of the stock is owned by company insiders.

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.