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

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$54.25.

Several research analysts recently weighed in on CNQ shares. Desjardins cut their price target on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lifted their target price on shares of Canadian Natural Resources from C$40.00 to C$42.00 in a research report on Thursday, May 22nd. Evercore ISI raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Royal Bank of Canada increased their price target on Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, National Bankshares dropped their price target on 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.

Canadian Natural Resources Price Performance

CNQ opened at C$43.28 on Tuesday. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$52.15. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a market capitalization of C$90.83 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 0.53 and a beta of 1.89. The firm’s fifty day moving average price is C$40.90 and its two-hundred day moving average price is C$42.97.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 10,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of C$44.67, for a total transaction of C$446,700.00. Also, Director Stephen W. Laut purchased 980 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average cost of C$44.65 per share, with a total value of C$43,757.00. In the last 90 days, insiders sold 34,500 shares of company stock worth $1,505,755. 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.