Insider Selling: Canadian Natural Resources (TSE:CNQ) Insider Sells C$903,400.00 in Stock

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) insider Ronald Keith Laing sold 20,000 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the transaction, the insider directly owned 2,049 shares of the company’s stock, valued at C$92,553.33. This represents a 90.71% decrease in their ownership of the stock.

Canadian Natural Resources Trading Down 4.2%

TSE CNQ opened at C$43.97 on Monday. Canadian Natural Resources Limited has a 52-week low of C$34.92 and a 52-week high of C$52.15. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The stock has a market capitalization of C$91.48 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.53 and a beta of 0.88. The firm has a 50-day moving average price of C$43.38 and a 200 day moving average price of C$42.66.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CNQ shares. Wells Fargo & Company increased their target price on shares of Canadian Natural Resources from C$42.00 to C$46.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. Scotiabank increased their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James Financial increased their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada dropped their target price on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of C$54.64.

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.