Canadian Natural Resources (TSE:CNQ) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) to a hold rating in a report released on Thursday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on CNQ. Royal Bank Of Canada reduced their price objective on Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Scotiabank raised their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Raymond James Financial raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$54.73.

Canadian Natural Resources Trading Down 0.7%

Shares of TSE:CNQ opened at C$42.19 on Thursday. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$49.68. The stock has a market cap of C$87.78 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.53 and a beta of 0.88. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The business has a 50-day moving average price of C$43.43 and a 200-day moving average price of C$42.62.

Insider Buying and Selling

In related news, insider Brenda Gayle Balog sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the sale, the insider directly owned 47,965 shares of the company’s stock, valued at C$2,184,805.75. This trade represents a 8.58% decrease in their ownership of the stock. Also, Director Stephen W. Laut sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total value of C$307,440.00. Following the completion of the sale, the director owned 895,350 shares of the company’s stock, valued at C$39,323,772. This trade represents a 0.78% decrease in their ownership of the stock. Insiders have sold a total of 31,500 shares of company stock valued at $1,415,815 over the last ninety days. Company insiders own 4.26% of the company’s stock.

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.