Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$54.00 at Canadian Imperial Bank of Commerce

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target upped by Canadian Imperial Bank of Commerce from C$52.00 to C$54.00 in a report published on Tuesday,BayStreet.CA reports.

CNQ has been the topic of a number of other reports. Desjardins upped their price objective on Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Raymond James Financial downgraded Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and boosted their target price for the company from C$55.00 to C$65.00 in a research report on Monday. BMO Capital Markets increased their price target on Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an “outperform” rating in a report on Friday, March 6th. National Bank Financial raised their price target on Canadian Natural Resources from C$54.00 to C$59.00 and gave the stock a “sector perform” rating in a research report on Friday, March 6th. Finally, Scotiabank lifted their price objective on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$61.31.

Canadian Natural Resources Stock Performance

Shares of TSE:CNQ opened at C$67.86 on Tuesday. The firm has a fifty day simple moving average of C$58.97 and a two-hundred day simple moving average of C$50.09. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$70.99. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46. The stock has a market capitalization of C$141.61 billion, a P/E ratio of 13.15, a PEG ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. The firm had revenue of C$9.61 billion for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. On average, analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kyle Grayson Pisio sold 7,456 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of C$50.11, for a total value of C$373,620.16. Following the sale, the insider directly owned 26,089 shares in the company, valued at approximately C$1,307,319.79. This represents a 22.23% decrease in their ownership of the stock. Also, insider Trevor Wagil sold 14,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total value of C$724,420.00. Following the sale, the insider directly owned 14,779 shares of the company’s stock, valued at C$738,358.84. This represents a 49.52% decrease in their ownership of the stock. In the last 90 days, insiders have sold 74,306 shares of company stock valued at $4,159,750. 4.26% of the stock is currently owned by corporate insiders.

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.