Canadian Natural Resources Limited (TSE:CNQ) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Canadian Natural Resources Limited has received a consensus rating of "Moderate Buy" from ten research firms, with an average 12-month price target of C$54.64.
• Recent reports have seen price target adjustments, including Scotiabank raising it to C$58.00 and Wells Fargo to C$46.00, reflecting positive outlooks for the company.
• Insider selling has occurred, with significant shares being sold by directors, indicating potential shifts in confidence among company leadership.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ has received a consensus recommendation of "Moderate Buy" from the ten research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$54.64.

A number of research firms have recently issued reports on CNQ. Scotiabank raised their price target on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an "outperform" rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada reduced their price target 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 report on Friday, August 8th. Finally, Raymond James Financial raised their price target on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at C$43.97 on Monday. The firm has a fifty day moving average of C$43.38 and a two-hundred day moving average of C$42.66. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$52.15. The firm has a market cap of C$91.48 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.53 and a beta of 0.88.

Insider Activity

In related news, Director Stephen W. Laut sold 7,000 shares of Canadian Natural Resources stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total value of C$307,440.00. Following the sale, the director directly owned 895,350 shares in the company, valued at C$39,323,772. This trade represents a 0.78% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of Canadian Natural Resources stock in a transaction dated Monday, October 6th. The shares were sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the completion of the sale, the insider owned 2,049 shares in the company, valued at approximately C$92,553.33. This represents a 90.71% decrease in their ownership of the stock. Company 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.

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