Canadian Natural Resources (TSE:CNQ) Sets New 1-Year High on Analyst Upgrade

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares hit a new 52-week high during mid-day trading on Wednesday after National Bankshares raised their price target on the stock from C$47.00 to C$54.00. National Bankshares currently has a sector perform rating on the stock. Canadian Natural Resources traded as high as C$52.01 and last traded at C$51.80, with a volume of 1739104 shares changing hands. The stock had previously closed at C$51.11.

Several other equities analysts have also weighed in on the stock. Desjardins set a C$52.00 price objective on shares of Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. Scotiabank lifted their price target 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. Raymond James Financial upped their price target on Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Evercore ISI downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada decreased their target price on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$54.40.

Insider Buying and Selling at Canadian Natural Resources

In related news, insider Trevor Wagil sold 2,469 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the completion of the sale, the insider directly owned 14,779 shares in the company, valued at approximately C$667,863.01. This trade represents a 14.31% decrease in their ownership of the stock. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Performance

The firm has a market cap of C$109.68 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The firm’s 50 day moving average is C$46.81 and its 200-day moving average is C$44.91. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%.The company had revenue of C$9.52 billion for the quarter. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

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.