Canadian Natural Resources Limited (TSE:CNQ) Given Average Recommendation 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.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ has earned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$54.75.

A number of research analysts recently weighed in on the company. Scotiabank boosted their target price on Canadian Natural Resources from C$50.00 to C$54.00 in a report on Friday, July 11th. 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 on the stock in a report on Friday, August 8th. 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 report on Thursday, June 26th. 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 report on Friday, August 8th.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded up C$0.16 during trading on Friday, reaching C$43.49. 9,956,344 shares of the company's stock were exchanged, compared to its average volume of 13,754,480. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The stock has a market capitalization of C$90.49 billion, a PE ratio of 11.04, a PEG ratio of 0.53 and a beta of 0.97. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$52.15. The firm's fifty day moving average price is C$42.81 and its 200-day moving average price is C$42.23.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 20,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$44.76, for a total value of C$895,200.00. Also, Senior Officer Robin Sean Zabek sold 20,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of C$44.90, for a total value of C$898,000.00. Over the last quarter, insiders sold 299,676 shares of company stock worth $13,450,829. 4.26% of the stock is currently owned by company insiders.

About Canadian Natural Resources

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.