Canadian Natural Resources (TSE:CNQ) Given New C$46.00 Price Target at Wells Fargo & Company

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by Wells Fargo & Company from C$42.00 to C$46.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts have also commented on the stock. 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 target price for the company in a research note on Wednesday, March 19th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating and cut their target price for the company from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. National Bankshares cut their target price on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Finally, CIBC increased their target price on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$54.58.

Canadian Natural Resources Stock Up 1.2%

TSE CNQ opened at C$43.56 on Thursday. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$52.15. The company has a market capitalization of C$91.42 billion, a P/E ratio of 12.09, a PEG ratio of 0.53 and a beta of 1.89. The company’s 50 day simple moving average is C$42.59 and its 200 day simple moving average is C$42.84. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Dwayne Frederick Giggs purchased 1,400 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were bought at an average price of C$36.88 per share, for a total transaction of C$51,631.02. Also, Director Stephen W. Laut purchased 980 shares of the company’s stock in a transaction dated 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. In the last quarter, insiders have sold 249,676 shares of company stock worth $11,265,119. 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.