Canadian Natural Resources (TSE:CNQ) PT Set at C$47.00 by Wells Fargo & Company

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) has been assigned a C$47.00 target price by analysts at Wells Fargo & Company in a report issued on Friday,BayStreet.CA reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.40% from the stock’s previous close.

A number of other research analysts have also recently commented on CNQ. Raymond James Financial boosted their price target on Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Royal Bank Of Canada lowered their price target on Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Scotiabank upped their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$54.73.

Canadian Natural Resources Stock Down 0.7%

TSE CNQ opened at C$42.19 on Friday. The stock’s 50 day moving average is C$43.43 and its 200 day moving average is C$42.62. 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$49.68. The stock has a market cap of C$87.78 billion, a PE ratio of 10.71, a P/E/G ratio of 0.53 and a beta of 0.88.

Insider Activity at Canadian Natural Resources

In related news, Director Stephen W. Laut sold 7,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of C$43.92, for a total transaction of C$307,440.00. Following the sale, the director owned 895,350 shares in the company, valued at approximately C$39,323,772. This represents a 0.78% decrease in their position. Also, insider Brenda Gayle Balog sold 4,500 shares of the stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of C$45.55, for a total value of C$204,975.00. Following the sale, the insider owned 47,965 shares in the company, valued at C$2,184,805.75. The trade was a 8.58% decrease in their position. In the last 90 days, insiders have sold 31,500 shares of company stock worth $1,415,815. Company 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.