Canadian Natural Resources (TSE:CNQ) Downgraded to “Market Perform” Rating by Raymond James Financial

Raymond James Financial cut shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from an outperform rating to a market perform rating in a research report released on Monday,BayStreet.CA reports. Raymond James Financial currently has C$65.00 target price on the stock, up from their prior target price of C$55.00.

A number of other equities research analysts have also issued reports on CNQ. TD Securities upped their target price 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. Scotiabank lifted their price target on Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. ATB Cormark Capital Markets raised their target price on shares of Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Gerdes Energy Research lowered shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. Finally, BMO Capital Markets raised their price objective on Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$59.54.

Canadian Natural Resources Trading Down 0.9%

TSE CNQ opened at C$68.83 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. The company has a market cap of C$143.64 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.53 and a beta of 0.81. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$70.99. The company has a 50-day moving average of C$58.56 and a 200-day moving average of C$49.92.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted 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 during the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. As a group, equities analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Buying and Selling at Canadian Natural Resources

In other news, Director Gordon D. Giffin sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the sale, the director owned 171,210 shares of the company’s stock, valued at C$11,643,992.10. This trade represents a 12.74% 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 completion of the sale, the insider directly owned 2,049 shares in the company, valued at C$102,101.67. This represents a 90.71% decrease in their position. Insiders have sold a total of 74,306 shares of company stock valued at $4,159,750 over the last ninety days. 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.