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

Key Points

• Canadian Natural Resources Limited receives a consensus rating of "Moderate Buy" from 13 brokerages, with eight analysts issuing buy ratings.
• The average price target for the stock is set at C$54.75, reflecting recent adjustments by several analysts.
• Insiders have sold significant shares totaling C$13.45 million in the past three months, indicating potential concerns about stock performance.

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ have been assigned an average recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$54.75.

Several research firms have issued reports on CNQ. Wells Fargo & Company upped 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. Scotiabank upped their price objective on Canadian Natural Resources from C$50.00 to C$54.00 in a research note on Friday, July 11th. Royal Bank Of Canada dropped their price objective on 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. Finally, Raymond James Financial upped their price objective 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 2.0%

CNQ traded down C$0.87 on Friday, hitting C$42.16. 23,124,516 shares of the company were exchanged, compared to its average volume of 13,750,141. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$52.15. The company has a market cap of C$88.48 billion, a PE ratio of 11.71, a PEG ratio of 0.53 and a beta of 1.89. 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 stock's fifty day moving average is C$43.05 and its 200-day moving average is C$42.23.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Director Stephen W. Laut bought 1,006 shares of Canadian Natural Resources stock in a transaction on Wednesday, July 2nd. The shares were purchased at an average price of C$43.47 per share, with a total value of C$43,730.82. Also, Senior Officer Troy John Peter Andersen sold 60,000 shares of the firm'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. Insiders have sold a total of 299,676 shares of company stock valued at $13,450,829 over the last ninety days. 4.26% of the stock is owned by corporate 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.