Canadian Natural Resources (TSE:CNQ) Downgraded to “Neutral” Rating by Gerdes Energy Research

Gerdes Energy Research lowered shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a neutral rating in a research note released on Thursday morning,BayStreet.CA reports.

CNQ has been the topic of a number of other reports. Raymond James Financial lifted their price objective on Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. TD Securities raised their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. National Bank Financial boosted their price target on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company set a C$47.00 price objective on shares of Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th. Finally, Desjardins set a C$52.00 price objective on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and a consensus price target of C$54.40.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at C$54.43 on Thursday. The stock has a market cap of C$113.38 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 0.53 and a beta of 0.70. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$55.50. The company’s fifty day moving average is C$47.55 and its 200 day moving average is C$45.35. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79.

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

Insider Activity

In other news, insider Trevor Wagil sold 2,469 shares of Canadian Natural Resources stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the completion of the transaction, the insider directly owned 14,779 shares in the company, valued at C$667,863.01. This trade represents a 14.31% decrease in their ownership of the stock. 4.26% of the stock is owned by corporate 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.