Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$70.00 at JPMorgan Chase & Co.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price hoisted by JPMorgan Chase & Co. from C$48.00 to C$70.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

A number of other research analysts have also commented on CNQ. Morgan Stanley cut their price objective on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. Canadian Imperial Bank of Commerce upped their price objective on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. National Bank Financial upped their price objective on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 31st. Gerdes Energy Research lowered shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. Finally, 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 company 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 issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$61.93.

Canadian Natural Resources Stock Up 1.5%

CNQ opened at C$68.23 on Tuesday. The business has a 50 day moving average price of C$60.67 and a 200 day moving average price of C$50.86. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$70.99. 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 firm has a market cap of C$142.38 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40.

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 net margin of 26.06% and a return on equity of 25.98%. The company had revenue of C$9.61 billion during the quarter. Research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insiders Place Their Bets

In other Canadian Natural Resources news, insider Erin Louise Lunn sold 2,252 shares of Canadian Natural Resources stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the sale, the insider owned 51,142 shares of the company’s stock, valued at approximately C$2,540,734.56. The trade was a 4.22% decrease in their position. Also, insider Brenda Gayle Balog sold 2,252 shares of Canadian Natural Resources stock in a transaction on Monday, February 2nd. The stock was 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 C$2,397,290.70. This represents a 4.48% decrease in their position. Insiders have sold a total of 74,306 shares of company stock valued at $4,159,750 over the last quarter. 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.