Analysts Set Canadian Natural Resources Limited (TSE:CNQ) Target Price at C$54.70

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$54.40.

A number of equities research analysts have recently weighed in on CNQ shares. Royal Bank Of Canada dropped their price objective on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. TD Securities boosted their price target on Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday. Scotiabank increased their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. National Bankshares lifted their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company set a C$47.00 target price on Canadian Natural Resources and gave the company an “equal weight” rating in a research report on Friday, October 17th.

Canadian Natural Resources Stock Up 1.2%

CNQ stock opened at C$45.38 on Friday. The stock has a market capitalization of C$94.53 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$48.92. 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 firm has a 50 day moving average of C$44.09 and a 200 day moving average of C$43.29.

Insider Activity

In other news, Director Stephen W. Laut sold 7,000 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total value of C$307,440.00. Following the sale, the director owned 895,350 shares in the company, valued at C$39,323,772. This represents a 0.78% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the transaction, the insider 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. Insiders have sold 31,500 shares of company stock valued at $1,415,815 in the last ninety days. 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.