Insider Buying: Canadian Natural Resources Limited (TSE:CNQ) Director Acquires 1,006 Shares of Stock

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ Director Stephen W. Laut bought 1,006 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were acquired at an average cost of C$43.47 per share, with a total value of C$43,730.82.

Canadian Natural Resources Price Performance

Shares of CNQ traded down C$0.32 during trading hours on Thursday, reaching C$43.46. 17,988,935 shares of the company's stock traded hands, compared to its average volume of 14,592,948. The stock has a market cap of C$91.21 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm's 50 day simple moving average is C$43.17 and its 200-day simple moving average is C$42.80. Canadian Natural Resources Limited has a 12 month low of C$34.92 and a 12 month high of C$52.15.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CNQ shares. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to an "outperform" rating and set a C$56.00 price objective for the company in a report on Wednesday, March 19th. Wells Fargo & Company lifted their price objective on Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Desjardins decreased their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. CIBC lifted their price objective on Canadian Natural Resources from C$59.00 to C$62.00 in a report on Thursday, April 10th. Finally, Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating and decreased their price objective for the stock from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$54.58.

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.