Desjardins Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ - Free Report) NYSE: CNQ had its price target lowered by Desjardins from C$51.00 to C$49.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on CNQ. National Bankshares decreased their price target on Canadian Natural Resources from C$51.00 to C$49.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. Jefferies Financial Group decreased their price objective on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to an "outperform" rating and set a C$56.00 target price on the stock in a research report on Wednesday, March 19th. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$59.62.

Canadian Natural Resources Stock Up 2.1 %

Shares of CNQ stock traded up C$0.81 during trading hours on Tuesday, reaching C$39.88. 19,856,124 shares of the company's stock were exchanged, compared to its average volume of 13,352,914. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$53.46. The stock's 50 day moving average is C$41.33 and its 200-day moving average is C$44.63. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The company has a market cap of C$83.69 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.53 and a beta of 1.89.

Insider Buying and Selling at Canadian Natural Resources

In related news, Senior Officer Warren Paul Raczynski sold 7,500 shares of Canadian Natural Resources stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of C$43.70, for a total value of C$327,750.00. Also, Director Stephen W. Laut sold 3,180 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total value of C$139,761.00. Insiders have sold a total of 47,184 shares of company stock valued at $2,047,408 over the last ninety days. Corporate 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.