Canadian Natural Resources (TSE:CNQ) Cut to Hold at Desjardins

Desjardins cut shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat.com reports. The firm currently has C$52.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company set a C$47.00 price objective on shares of Canadian Natural Resources and gave the company an “equal weight” rating in a research report on Friday, October 17th. Royal Bank Of Canada set a C$62.00 price target on Canadian Natural Resources and gave the company an “outperform” rating in a report on Thursday, November 20th. Scotiabank upped their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Raymond James Financial lifted their price objective on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. Finally, National Bankshares boosted their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the company a “sector perform” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$54.70.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at C$46.80 on Monday. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$49.20. The business’s 50 day simple moving average is C$44.85 and its two-hundred day simple moving average is C$43.77. The stock has a market capitalization of C$97.49 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The firm had revenue of C$9.52 billion for the quarter. Analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Activity at Canadian Natural Resources

In related news, insider Ronald Keith Laing sold 20,000 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of C$45.17, for a total value of C$903,400.00. Following the sale, 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. Also, insider Brenda Gayle Balog sold 4,500 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the completion of the transaction, the insider owned 47,965 shares of the company’s stock, valued at approximately C$2,184,805.75. This trade represents a 8.58% decrease in their position. Insiders have sold 31,500 shares of company stock worth $1,415,815 over the last ninety days. 4.26% of the stock is owned by corporate insiders.

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.