Royal Bank Of Canada Issues Pessimistic Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target cut by analysts at Royal Bank Of Canada from C$64.00 to C$62.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 48.65% from the company’s previous close.

Other equities analysts have also issued reports about the stock. CIBC upped 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. Scotiabank upped their target price on shares of Canadian Natural Resources from C$50.00 to C$54.00 in a research note on Friday, July 11th. Wells Fargo & Company upped their target price on shares of Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 26th. 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 research report on Tuesday, April 15th. Finally, Raymond James Financial raised their price objective on Canadian Natural Resources from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$54.75.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$41.71 on Friday. The firm has a market cap of C$87.53 billion, a PE ratio of 11.58, 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. 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 fifty day moving average price of C$43.55 and a 200 day moving average price of C$42.46.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Scott Gerald Stauth sold 55,000 shares of the company’s stock in a transaction dated Thursday, June 19th. The shares were sold at an average price of C$46.22, for a total value of C$2,542,100.00. Also, Senior Officer Troy John Peter Andersen sold 60,000 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of C$43.87, for a total transaction of C$2,632,410.00. Insiders have sold a total of 309,676 shares of company stock valued at $13,897,529 in the last ninety days. 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.