Canadian Natural Resources (TSE:CNQ) Rating Lowered to "Market Perform" at Raymond James Financial

Key Points

• Raymond James downgraded Canadian Natural Resources from "outperform" to "market perform" while raising its price target to C$65 (from C$55), implying roughly a 6.3% downside from the prior close.
• Consensus is mixed: the stock has an average rating of "Hold" (five Buy, six Hold) with an average price target of C$59.54, which is below the current share price.
• Shares traded at C$69.35 (down 0.2% midday) with a market cap of C$144.66B and a P/E of 13.44; insiders sold 74,306 shares (~US$4.16M) in the last 90 days and now own 4.26%.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ was downgraded by equities researchers at Raymond James Financial from an "outperform" rating to a "market perform" rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$65.00 price objective on the stock, up from their prior price objective of C$55.00. Raymond James Financial's target price would suggest a potential downside of 6.27% from the company's previous close.

A number of other equities analysts also recently commented on CNQ. Desjardins raised their target price on shares of Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a "hold" rating in a research note on Monday, March 9th. National Bank Financial increased their price target on Canadian Natural Resources from C$54.00 to C$59.00 and gave the company a "sector perform" rating in a report on Friday, March 6th. Evercore lowered Canadian Natural Resources from an "outperform" rating to a "hold" rating and set a C$50.00 price objective on the stock. in a research report on Tuesday, January 6th. Gerdes Energy Research cut Canadian Natural Resources from a "buy" rating to a "neutral" rating in a research note on Thursday, February 12th. Finally, BMO Capital Markets upped their target price on Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$59.54.

Canadian Natural Resources Trading Down 0.2%

Shares of TSE CNQ traded down C$0.11 during midday trading on Monday, hitting C$69.35. The stock had a trading volume of 3,504,220 shares, compared to its average volume of 16,399,135. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$70.99. The company has a market capitalization of C$144.66 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 0.53 and a beta of 0.81. The company has a fifty day moving average price of C$58.15 and a 200 day moving average price of C$49.74.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last posted its quarterly earnings results on Thursday, March 5th. The company reported C$0.82 EPS for the quarter. The firm had revenue of C$9.61 billion for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. On average, analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, insider Erin Louise Lunn sold 2,252 shares of the business's stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total value of C$111,879.36. Following the transaction, the insider owned 51,142 shares in the company, valued at C$2,540,734.56. The trade was a 4.22% decrease in their position. Also, insider Trevor Wagil sold 14,500 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the completion of the transaction, 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 90 days, insiders sold 74,306 shares of company stock worth $4,159,750. 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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