Canadian Natural Resources (TSE:CNQ) Given New C$59.00 Price Target at Jefferies Financial Group

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price raised by Jefferies Financial Group from C$48.00 to C$59.00 in a research report report published on Monday morning,BayStreet.CA reports.

Several other research analysts also recently commented on the company. Raymond James Financial increased their target price on shares of Canadian Natural Resources from C$53.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. BMO Capital Markets lifted their price target on shares of 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. Royal Bank Of Canada upped their price objective on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. TD Securities increased their price objective on shares of Canadian Natural Resources from C$51.00 to C$64.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, National Bank Financial raised their target price on shares of Canadian Natural Resources from C$54.00 to C$59.00 and gave the company a “sector perform” rating in a research report on Friday, March 6th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of C$58.77.

Canadian Natural Resources Trading Up 0.3%

Shares of CNQ opened at C$66.74 on Monday. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$67.05. The firm has a market cap of C$139.22 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.53 and a beta of 0.81. The business’s fifty day moving average is C$54.11 and its 200-day moving average is C$48.17.

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

Insider Transactions at Canadian Natural Resources

In other news, insider Trevor Wagil sold 14,500 shares of Canadian Natural Resources stock in a transaction dated 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 sale, the insider directly owned 14,779 shares of the company’s stock, valued at approximately C$738,358.84. This trade represents a 49.52% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of Canadian Natural Resources stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of C$49.83, for a total value of C$996,600.00. Following the sale, the insider directly owned 2,049 shares in the company, valued at C$102,101.67. The trade was a 90.71% decrease in their ownership of the stock. In the last ninety days, insiders sold 51,775 shares of company stock valued at $2,571,074. 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.