Canadian Natural Resources Limited (TSE:CNQ) Receives Average Recommendation of “Hold” from Analysts

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$61.31.

Several research firms have recently weighed in on CNQ. Canadian Imperial Bank of Commerce raised their price target on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. ATB Cormark Capital Markets increased their price objective on shares of Canadian Natural Resources from C$56.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Royal Bank Of Canada increased their price objective on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. TD Securities boosted their target price on Canadian Natural Resources from C$51.00 to C$64.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, BMO Capital Markets upped their price target on Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, March 6th.

Canadian Natural Resources Price Performance

TSE CNQ opened at C$66.15 on Monday. The business has a fifty day moving average price of C$59.94 and a 200 day moving average price of C$50.53. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95. The company has a market cap of C$138.04 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.53 and a beta of 0.81. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$70.99.

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. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. The company had revenue of C$9.61 billion for the quarter. Research analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other news, insider Trevor Wagil sold 14,500 shares of Canadian Natural Resources stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the transaction, the insider owned 14,779 shares in the company, valued at C$738,358.84. The trade was a 49.52% decrease in their position. Also, insider Kyle Grayson Pisio sold 7,456 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of C$50.11, for a total transaction of C$373,620.16. Following the transaction, the insider directly owned 26,089 shares in the company, valued at approximately C$1,307,319.79. The trade was a 22.23% decrease in their position. Insiders have sold a total of 74,306 shares of company stock valued at $4,159,750 in the last three months. 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.