Canadian Natural Resources (TSE:CNQ) Given New C$70.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised its price target on Canadian Natural Resources to C$70 (from C$50) and kept an "outperform" rating, implying about a 10.8% upside from the stock's recent price.
• Analysts are mixed overall — the MarketBeat consensus is a "Moderate Buy" with an average price target of C$58.42, and the coverage splits roughly six Buy vs. five Hold ratings.
• Company insiders have been net sellers recently, disposing of 51,775 shares (~US$2.57M) over the last three months, while insiders still own about 4.26% of the shares.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price increased by analysts at BMO Capital Markets from C$50.00 to C$70.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price objective suggests a potential upside of 10.81% from the company's current price.

A number of other equities research analysts have also commented on CNQ. Raymond James Financial upped their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Evercore cut Canadian Natural Resources from an "outperform" rating to a "hold" rating and set a C$50.00 price target on the stock. in a research note on Tuesday, January 6th. TD Securities raised their target price on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Royal Bank Of Canada decreased their target price on shares of Canadian Natural Resources from C$62.00 to C$61.00 and set an "outperform" rating for the company in a report on Tuesday, January 13th. Finally, Morgan Stanley reduced their price objective on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$58.42.

Canadian Natural Resources Price Performance

Shares of CNQ traded up C$1.21 during midday trading on Friday, reaching C$63.17. The stock had a trading volume of 5,804,543 shares, compared to its average volume of 12,278,394. Canadian Natural Resources has a 12-month low of C$34.92 and a 12-month high of C$64.00. 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's 50-day moving average is C$51.50 and its 200 day moving average is C$47.00. The company has a market capitalization of C$131.59 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81.

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

Insider Transactions at Canadian Natural Resources

In related news, insider Erin Louise Lunn sold 2,252 shares of the business's stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the transaction, the insider directly owned 51,142 shares in the company, valued at approximately C$2,540,734.56. The trade was a 4.22% decrease in their position. Also, insider Brenda Gayle Balog sold 2,252 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the completion of the transaction, the insider directly owned 47,965 shares of the company's stock, valued at C$2,397,290.70. This represents a 4.48% decrease in their position. Over the last three months, insiders have sold 51,775 shares of company stock valued at $2,571,074. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.