Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$56.00 at Desjardins

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by Desjardins from C$52.00 to C$56.00 in a report published on Monday,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

CNQ has been the subject of a number of other research reports. Scotiabank increased their target price on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley dropped their price target on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. ATB Cormark Capital Markets upped their price target on shares of Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday. 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. Finally, Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research note on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.75.

Canadian Natural Resources Stock Down 0.3%

Shares of Canadian Natural Resources stock opened at C$62.77 on Monday. The company has a debt-to-equity ratio of 44.46, a current ratio of 0.95 and a quick ratio of 0.54. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$64.39. The business’s fifty day moving average price is C$52.21 and its two-hundred day moving average price is C$47.39. The company has a market capitalization of C$130.76 billion, a P/E ratio of 19.80, a PEG ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly 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%. As a group, research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephanie Ann Graham sold 1,930 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of C$49.19, for a total value of C$94,936.70. Following the sale, the insider directly owned 16,367 shares in the company, valued at C$805,092.73. The trade was a 10.55% decrease in their position. Also, insider Brenda Gayle Balog sold 2,252 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the sale, the insider directly owned 47,965 shares of the company’s stock, valued at approximately C$2,397,290.70. This represents a 4.48% decrease in their ownership of the stock. Insiders sold 51,775 shares of company stock worth $2,571,074 in the last ninety days. 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.