Canadian Natural Resources Limited (TSE:CNQ) Given Average Rating of "Moderate Buy" by Analysts

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 assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$54.75.

CNQ has been the topic of a number of research reports. Royal Bank Of Canada decreased their target price on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Raymond James Financial boosted their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Scotiabank raised their price objective on shares of Canadian Natural Resources from C$50.00 to C$54.00 in a report on Friday, July 11th. Finally, Wells Fargo & Company raised their price objective 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.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$45.14 on Thursday. The firm's fifty day moving average price is C$42.80 and its two-hundred day moving average price is C$42.33. The stock has a market cap of C$93.92 billion, a PE ratio of 11.46, a PEG ratio of 0.53 and a beta of 0.97. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$52.15. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insider Buying and Selling

In related news, Senior Officer Troy John Peter Andersen sold 60,000 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of C$43.87, for a total value of C$2,632,410.00. Also, Director Stephen W. Laut acquired 1,006 shares of Canadian Natural Resources stock in a transaction that occurred on Wednesday, July 2nd. The stock was acquired at an average cost of C$43.47 per share, for a total transaction of C$43,730.82. 4.26% of the stock is currently owned by 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.

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