Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$72.00 at TD

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by TD from C$64.00 to C$72.00 in a research report sent to investors on Thursday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. TD Securities upped 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. BMO Capital Markets upped their target price on Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Jefferies Financial Group upped their price objective on Canadian Natural Resources from C$48.00 to C$59.00 in a research note on Monday, March 16th. Raymond James Financial lowered Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$55.00 to C$65.00 in a research note on Monday, March 30th. Finally, Scotiabank upped their price objective on Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus target price of C$63.60.

Canadian Natural Resources Stock Performance

CNQ opened at C$63.47 on Thursday. Canadian Natural Resources has a 52-week low of C$38.58 and a 52-week high of C$70.99. The firm has a market capitalization of C$132.45 billion, a PE ratio of 12.30, a PEG ratio of 0.53 and a beta of 0.40. 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 business’s 50-day simple moving average is C$62.43 and its 200 day simple moving average is C$51.69.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released 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 return on equity of 25.98% and a net margin of 26.06%.The business had revenue of C$9.61 billion for the quarter. As a group, sell-side analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Transactions at Canadian Natural Resources

In other news, insider Stephanie Ann Graham sold 1,930 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.19, for a total transaction of C$94,936.70. Following the transaction, the insider owned 16,367 shares in the company, valued at approximately C$805,092.73. This trade represents a 10.55% decrease in their ownership of the stock. Also, insider Brenda Gayle Balog sold 2,252 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total value of C$112,554.96. Following the transaction, the insider owned 47,965 shares in the company, valued at approximately C$2,397,290.70. This trade represents a 4.48% decrease in their position. Over the last ninety days, insiders have sold 74,306 shares of company stock valued at $4,159,750. Company insiders own 4.26% of the company’s stock.

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.