Royal Bank Of Canada Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target upped by Royal Bank Of Canada from C$65.00 to C$80.00 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also commented on the company. Evercore lowered 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. TD Securities boosted their price objective on Canadian Natural Resources from C$51.00 to C$64.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. ATB Cormark Capital Markets boosted their price objective on Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Raymond James Financial lowered Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and boosted their price objective for the stock from C$55.00 to C$65.00 in a research note on Monday, March 30th. Finally, Jefferies Financial Group boosted their price objective on Canadian Natural Resources from C$48.00 to C$59.00 in a research note on Monday, March 16th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$63.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$64.12 on Wednesday. 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$133.81 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.53 and a beta of 0.40. The business’s fifty day moving average is C$60.95 and its two-hundred day moving average is C$50.96. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$70.99.

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

Insider Buying and Selling at Canadian Natural Resources

In other news, Director Gordon D. Giffin sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the director owned 171,210 shares of the company’s stock, valued at C$11,643,992.10. This represents a 12.74% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 2,049 shares in the company, valued at C$102,101.67. This trade 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.