Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$54.00 at Scotiabank

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price boosted by research analysts at Scotiabank from C$50.00 to C$54.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank's target price points to a potential upside of 23.26% from the company's current price.

CNQ has been the topic of several other research reports. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. CIBC boosted their price objective on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Wells Fargo & Company boosted their price objective 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 note on Thursday, June 26th. Finally, Desjardins dropped their price objective on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$54.42.

Canadian Natural Resources Trading Up 0.8%

Canadian Natural Resources stock traded up C$0.35 during trading hours on Friday, reaching C$43.81. The stock had a trading volume of 2,232,597 shares, compared to its average volume of 14,499,353. The stock has a market cap of C$91.94 billion, a PE ratio of 12.16, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$52.15. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a fifty day simple moving average of C$43.24 and a 200-day simple moving average of C$42.80.

Insider Buying and Selling

In related news, Senior Officer Kyle Grayson Pisio sold 4,912 shares of the company's stock in a transaction on Thursday, June 19th. The shares were sold at an average price of C$46.27, for a total transaction of C$227,278.24. Also, Senior Officer Mark Anthony Overwater sold 8,260 shares of the company's stock in a transaction on Thursday, June 19th. The shares were sold at an average price of C$46.44, for a total transaction of C$383,594.40. Insiders sold a total of 249,676 shares of company stock worth $11,265,119 in the last 90 days. 4.26% of the stock is owned by company insiders.

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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