Canadian Natural Resources (TSE:CNQ) Given a C$47.00 Price Target by Wells Fargo & Company Analysts

Key Points

• Wells Fargo & Company has set a price target of C$47.00 for Canadian Natural Resources (TSE:CNQ), indicating an 11.40% potential upside from its last close.
• Scotiabank has increased its price objective from C$54.00 to C$58.00, while Royal Bank of Canada and Raymond James have also adjusted their targets, reflecting a generally positive outlook on the stock.
• Insider trading reveals notable sales, with director Stephen W. Laut selling 7,000 shares, and Ronald Keith Laing selling 20,000 shares in early October.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ has been assigned a C$47.00 price objective by equities researchers at Wells Fargo & Company in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 11.40% from the company's previous close.

CNQ has been the subject of a number of other research reports. Scotiabank raised their price objective on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an "outperform" rating in a report on Thursday, October 9th. Royal Bank Of Canada decreased their price target on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Raymond James Financial upped their price target on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$54.73.

Canadian Natural Resources Price Performance

CNQ stock traded down C$0.30 during midday trading on Friday, reaching C$42.19. The company had a trading volume of 9,105,742 shares, compared to its average volume of 14,925,601. 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$49.68. The company has a market capitalization of C$87.78 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.53 and a beta of 0.88. The stock has a 50 day moving average price of C$43.42 and a 200-day moving average price of C$42.66.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Director Stephen W. Laut sold 7,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director owned 895,350 shares of the company's stock, valued at C$39,323,772. The trade was a 0.78% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of C$45.17, for a total value of C$903,400.00. Following the transaction, the insider owned 2,049 shares in the company, valued at C$92,553.33. This trade represents a 90.71% decrease in their ownership of the stock. 4.26% of the stock is currently owned by 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.

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