Canadian Natural Resources (TSE:CNQ) Given New C$59.00 Price Target at National Bank Financial

Key Points

• National Bank Financial raised its price target on Canadian Natural Resources to C$59.00 (from C$54.00) while keeping a "sector perform" rating, and several other banks (TD, BMO, ATB Cormark, RBC) also lifted targets, leaving a consensus target of C$58.42 and an average "Moderate Buy" rating.
• CNQ traded at C$63.17 on Friday—near its 52‑week high of C$64.00—with a market cap of C$131.6 billion and a P/E of about 19.9.
• Insiders sold 51,775 shares in the last quarter (about US$2.57M), leaving insiders owning 4.26%, and the company reported Q results of C$0.82 EPS with analysts forecasting roughly C$3.83 EPS for the fiscal year.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price increased by equities researchers at National Bank Financial from C$54.00 to C$59.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's price objective suggests a potential downside of 6.60% from the company's previous close.

Other research analysts also recently issued research reports about the stock. TD Securities upped their price target on shares of Canadian Natural Resources from C$51.00 to C$64.00 and gave the stock a "buy" rating in a research report on Friday. BMO Capital Markets raised their price target on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an "outperform" rating in a report on Friday. ATB Cormark Capital Markets upped their price objective on Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an "outperform" rating in a report on Friday. Morgan Stanley lowered their target price on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada upped their price target on Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an "outperform" rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of "Moderate Buy" and a consensus target price of C$58.42.

Canadian Natural Resources Price Performance

CNQ stock traded up C$1.21 during trading on Friday, hitting C$63.17. The company had a trading volume of 5,804,543 shares, compared to its average volume of 12,278,394. The company has a current ratio of 0.86, a quick ratio of 0.54 and a debt-to-equity ratio of 42.68. The company has a fifty day moving average price of C$51.50 and a two-hundred day moving average price of C$47.00. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$64.00. The company has a market cap of C$131.59 billion, a P/E ratio of 19.93, a P/E/G ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last announced its earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 15.49% and a return on equity of 16.47%. Equities research analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Transactions at Canadian Natural Resources

In other news, insider Ronald Keith Laing sold 20,000 shares of the firm's stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$49.83, for a total transaction of C$996,600.00. Following the sale, the insider owned 2,049 shares of the company's stock, valued at C$102,101.67. This trade represents a 90.71% decrease in their ownership of the stock. Also, insider Trevor Wagil sold 14,500 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total value of C$724,420.00. Following the sale, the insider directly owned 14,779 shares of the company's stock, valued at approximately C$738,358.84. The trade was a 49.52% decrease in their ownership of the stock. In the last quarter, insiders sold 51,775 shares of company stock valued at $2,571,074. Insiders own 4.26% of the company's stock.

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.

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