Canadian Natural Resources (TSE:CNQ) PT Set at C$62.00 by Royal Bank Of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) has been given a C$62.00 price target by Royal Bank Of Canada in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 31.61% from the company’s previous close.

Several other analysts have also issued reports on CNQ. Wells Fargo & Company set a C$47.00 price objective on Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th. National Bankshares boosted their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a report on Friday, November 7th. Raymond James Financial raised their price target on Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Scotiabank lifted their price objective on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, TD Securities upped their price objective on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$54.40.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$47.11 on Thursday. The company has a market cap of C$98.14 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The firm has a 50-day moving average of C$44.74 and a 200-day moving average of C$43.63. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$49.20. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, November 6th. The company reported C$0.29 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The company had revenue of C$9.52 billion for the quarter. As a group, equities analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Buying and Selling at Canadian Natural Resources

In other news, Director Stephen W. Laut sold 7,000 shares of Canadian Natural Resources stock in a transaction 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 in the company, valued at C$39,323,772. The trade was a 0.78% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the transaction, the insider owned 2,049 shares in the company, valued at C$92,553.33. The trade was a 90.71% decrease in their position. Over the last three months, insiders have sold 31,500 shares of company stock valued at $1,415,815. 4.26% of the stock is currently owned by company insiders.

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.