Canadian Natural Resources Limited (TSE:CNQ) Receives C$54.25 Consensus Price Target from Brokerages

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ has earned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$54.25.

CNQ has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to an "outperform" rating and set a C$56.00 price target for the company in a research report on Wednesday, March 19th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. Evercore ISI raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, CIBC increased their target price on Canadian Natural Resources from C$59.00 to C$62.00 in a report on Thursday, April 10th.

Canadian Natural Resources Price Performance

TSE CNQ traded up C$1.42 during trading hours on Tuesday, reaching C$45.90. 51,979,415 shares of the stock traded hands, compared to its average volume of 13,837,695. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The stock has a 50 day simple moving average of C$41.20 and a two-hundred day simple moving average of C$42.97. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$52.15. The company has a market cap of C$96.33 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Warren Paul Raczynski sold 8,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of C$44.84, for a total value of C$358,720.00. Also, Director Stephen W. Laut acquired 980 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was purchased at an average price of C$44.65 per share, with a total value of C$43,757.00. Insiders have sold a total of 81,500 shares of company stock worth $3,648,140 over the last quarter. Corporate 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.