Canadian Natural Resources (TSE:CNQ) Given New C$90.00 Price Target at National Bank Financial

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price lifted by National Bank Financial from C$59.00 to C$90.00 in a research note published on Tuesday,BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.

Several other equities analysts also recently issued reports on the company. Scotiabank upped their target price 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. Raymond James Financial cut Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and lifted their price target for the stock from C$55.00 to C$65.00 in a research report on Monday. BMO Capital Markets boosted 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 note on Friday, March 6th. ATB Cormark Capital Markets increased their price objective on 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. Finally, Canadian Imperial Bank of Commerce raised their price objective on Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$61.31.

Canadian Natural Resources Stock Down 1.4%

CNQ stock opened at C$67.86 on Tuesday. The stock has a market capitalization of C$141.61 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$70.99. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46. The firm has a 50 day moving average of C$58.97 and a 200 day moving average of C$50.09.

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

Insider Activity

In related news, insider Ronald Keith Laing sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$49.83, for a total transaction of C$996,600.00. Following the completion of the transaction, 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. Also, insider Kyle Grayson Pisio sold 7,456 shares of the company’s stock in a transaction on 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 completion of the sale, 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 ownership of the stock. Insiders have sold a total of 74,306 shares of company stock valued at $4,159,750 over the last quarter. 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.