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

Key Points

• Canadian Natural Resources Limited has received a consensus recommendation of "Moderate Buy" from analysts, with an average 12-month price target of C$54.42.
• Insider sales included Senior Officer Troy John Peter Andersen selling 60,000 shares for approximately C$2.63 million, reflecting a total insider sale of 309,676 shares worth about $13.9 million in the past three months.
• Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, with an average production of 1.16 million barrels of oil equivalent per day in 2020.

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ have been given an average rating of "Moderate Buy" by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$54.42.

Several research analysts have commented on CNQ shares. Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating and cut their target price for the stock from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Desjardins dropped their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. CIBC boosted their price objective on Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Wells Fargo & Company boosted 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 research note on Thursday, June 26th. Finally, Scotiabank boosted their price objective on Canadian Natural Resources from C$50.00 to C$54.00 in a research note on Friday, July 11th.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Troy John Peter Andersen sold 60,000 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of C$43.87, for a total transaction of C$2,632,410.00. Also, Senior Officer Devin Craig Lowe sold 20,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of C$44.76, for a total transaction of C$895,200.00. Insiders sold a total of 309,676 shares of company stock worth $13,897,529 in the last three months. 4.26% of the stock is owned by insiders.

Canadian Natural Resources Trading Up 1.2%

Shares of CNQ opened at C$44.39 on Wednesday. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$52.15. The business's fifty day moving average is C$43.49 and its 200-day moving average is C$42.60. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The firm has a market cap of C$93.16 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.53 and a beta of 1.89.

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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