Canadian Natural Resources (TSE:CNQ) Trading Down 7.4% - Here's Why

Key Points

• Shares tumbled 7.4% intraday to C$58.79 (low C$58.25) on Friday, with about 2.73 million shares traded—roughly an 84% decline versus the stock's average daily volume of 16.67 million; the prior close was C$63.47.
• Analyst sentiment is mixed—six Buy and six Hold ratings—with a MarketBeat consensus of "Moderate Buy" and an average price target of C$63.60, while recent individual targets range from C$50 to C$70 following several revisions.
• Recent results show solid profitability (Q most recent EPS C$0.82, revenue C$9.61B, net margin 26.06%, ROE 25.98%) and a valuation of P/E 11.32 with a market cap of C$121.87 billion.

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ traded down 7.4% during mid-day trading on Friday . The company traded as low as C$58.25 and last traded at C$58.79. Approximately 2,726,721 shares changed hands during trading, a decline of 84% from the average daily volume of 16,670,506 shares. The stock had previously closed at C$63.47.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley decreased their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their price target on Canadian Natural Resources from C$48.00 to C$70.00 in a research note on Tuesday, April 7th. Evercore downgraded shares of 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 report on Tuesday, January 6th. BMO Capital Markets boosted their price target on shares of 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. Finally, Jefferies Financial Group boosted their price target on shares of Canadian Natural Resources from C$48.00 to C$59.00 in a research report on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of "Moderate Buy" and an average price target of C$63.60.

Canadian Natural Resources Stock Performance

The firm's fifty day simple moving average is C$62.43 and its 200 day simple moving average is C$51.69. The company has a debt-to-equity ratio of 44.46, a current ratio of 0.95 and a quick ratio of 0.54. The company has a market capitalization of C$121.87 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.53 and a beta of 0.40.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 earnings per share 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, sell-side analysts forecast that Canadian Natural Resources Limited will post 3.833989 EPS for the current year.

Insider Buying and Selling at Canadian Natural Resources

In other news, insider Trevor Wagil sold 14,500 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total value 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. This represents a 49.52% decrease in their position. Also, Director Gordon D. Giffin sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the sale, the director directly owned 171,210 shares of the company's stock, valued at approximately C$11,643,992.10. The trade was a 12.74% decrease in their position. Insiders sold 74,306 shares of company stock valued at $4,159,750 over the last quarter. Company 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.

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