Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) Target Price at C$54.75

Key Points

• Canadian Natural Resources Limited has received an average rating of "Moderate Buy" from analysts, with three hold ratings, eight buy ratings, and one strong buy rating.
• The average 12-month target price for CNQ stock among brokerages is C$54.75, reflecting recent adjustments by firms such as Royal Bank Of Canada and Raymond James Financial.
• As of today, CNQ's stock opened at C$45.14, with a market capitalization of approximately C$93.92 billion and a 52-week trading range between C$34.92 and C$52.15.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ has been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$54.75.

Several brokerages have recently weighed in on CNQ. Scotiabank raised their price target on shares of Canadian Natural Resources from C$50.00 to C$54.00 in a research note on Friday, July 11th. Wells Fargo & Company raised their price objective on 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. Royal Bank Of Canada decreased their price objective on 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. Finally, Raymond James Financial raised their price target on Canadian Natural Resources from C$52.00 to C$54.00 and gave the company an "outperform" rating in a research note on Friday, August 8th.

Canadian Natural Resources Stock Down 2.9%

Shares of CNQ stock traded down C$1.31 during trading hours on Thursday, hitting C$43.58. 49,594,796 shares of the company were exchanged, compared to its average volume of 14,593,390. The business has a 50 day moving average of C$42.82 and a two-hundred day moving average of C$42.44. The company has a market capitalization of C$90.67 billion, a PE ratio of 11.06, a PEG ratio of 0.53 and a beta of 0.97. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$52.15.

Insiders Place Their Bets

In other Canadian Natural Resources news, Director Stephen W. Laut bought 1,006 shares of Canadian Natural Resources stock in a transaction dated Wednesday, July 2nd. The stock was bought at an average price of C$43.47 per share, with a total value of C$43,730.82. Also, Senior Officer Mark Allen Stainthorpe sold 45,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of C$43.27, for a total transaction of C$1,947,150.00. 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.