Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies raised its target on Canadian Natural Resources to C$59.00 (from C$48.00), but that price is still below the stock's recent trading level and implies roughly an 11.8% downside from current prices.
• Several other banks also lifted targets (TD C$64 buy, RBC C$65 outperform, Scotiabank C$62), yet the Street consensus remains a “Moderate Buy” with an average target of C$58.77, while Evercore downgraded to a hold with a C$50 target.
• The stock traded around C$66.86 with a market cap of C$139.47B, a P/E of 12.96, and last quarter results showing C$0.82 EPS on C$9.61B revenue and a net margin of 26.06%, leaving valuation metrics mixed versus analyst targets.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price raised by investment analysts at Jefferies Financial Group from C$48.00 to C$59.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group's price objective points to a potential downside of 11.76% from the company's previous close.

Other research analysts have also issued reports about the company. TD Securities raised their target price on Canadian Natural Resources from C$51.00 to C$64.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. National Bank Financial upped their target price on shares of Canadian Natural Resources from C$54.00 to C$59.00 and gave the stock a "sector perform" rating in a report on Friday, March 6th. Scotiabank increased their price target on Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an "outperform" rating in a research report on Friday, March 6th. Royal Bank Of Canada raised their price objective 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, March 6th. Finally, Evercore lowered shares of Canadian Natural Resources from an "outperform" rating to a "hold" rating and set a C$50.00 target price for the company. in a research note on Tuesday, January 6th. Six 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.com, Canadian Natural Resources currently has a consensus rating of "Moderate Buy" and an average target price of C$58.77.

Canadian Natural Resources Price Performance

Shares of TSE CNQ traded up C$0.35 during mid-day trading on Monday, reaching C$66.86. The company had a trading volume of 19,548,757 shares, compared to its average volume of 14,947,554. The firm has a market cap of C$139.47 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.53 and a beta of 0.81. The business's 50-day simple moving average is C$53.66 and its 200 day simple moving average is C$48.00. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$67.05. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95.

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 EPS for the quarter. The business had revenue of C$9.61 billion during the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. On average, research analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other news, insider Brenda Gayle Balog sold 2,252 shares of Canadian Natural Resources stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the completion of the sale, the insider directly owned 47,965 shares of the company's stock, valued at approximately C$2,397,290.70. The trade was a 4.48% decrease in their position. Also, insider Erin Louise Lunn sold 2,252 shares of Canadian Natural Resources stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total value of C$111,879.36. Following the sale, the insider directly owned 51,142 shares of the company's stock, valued at approximately C$2,540,734.56. This trade represents a 4.22% decrease in their position. Insiders have sold 51,775 shares of company stock valued at $2,571,074 in the last ninety days. 4.26% of the stock is currently owned by corporate 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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