Canadian Natural Resources Limited (TSE:CNQ) Receives Average Recommendation of “Moderate Buy” from Brokerages

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. 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 on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$54.75.

CNQ has been the subject of a number of research reports. Scotiabank increased their target price on shares of Canadian Natural Resources from C$50.00 to C$54.00 in a research report on Friday, July 11th. Raymond James Financial increased their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Wells Fargo & Company raised their price objective on shares of Canadian Natural Resources from C$42.00 to C$46.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada decreased their target price on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th.

Canadian Natural Resources Trading Up 2.7%

TSE:CNQ opened at C$43.07 on Friday. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$52.15. The firm has a 50-day moving average price of C$43.10 and a two-hundred day moving average price of C$42.24. The firm has a market cap of C$90.39 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insiders Place Their Bets

In related news, Senior Officer Devin Craig Lowe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of C$44.76, for a total transaction of C$895,200.00. Also, Senior Officer Scott Gerald Stauth sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, June 19th. The shares were sold at an average price of C$46.22, for a total transaction of C$2,542,100.00. In the last three months, insiders sold 299,676 shares of company stock valued at $13,450,829. 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.