Canadian Natural Resources Limited (TSE:CNQ) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Canadian Natural Resources has a consensus “Moderate Buy” rating from 12 analysts, evenly split between six buy and six hold recommendations. The average 12-month price target is C$70.00, with several brokerages recently raising targets to between C$73.00 and C$75.00.
• CNQ shares opened at C$75.50, near their 52-week high of C$77.60, and have risen above both their 50-day and 200-day moving averages. The company has a market capitalization of approximately C$155.6 billion and a P/E ratio of 13.43.
• The company reported quarterly revenue of C$14.74 billion and earnings of C$2.19 per share, alongside a 24.93% net margin and 26.67% return on equity. Director Shelley Ann Marie Brown also purchased 709 shares, increasing her holdings by 66.2%.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ has received a consensus rating of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$70.00.

A number of brokerages have commented on CNQ. Scotia boosted their price objective on Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Gerdes Energy Research upgraded Canadian Natural Resources from a "neutral" rating to a "buy" rating and increased their target price for the company from C$67.00 to C$69.00 in a research note on Monday, June 29th. TD increased their target price on Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Scotiabank upgraded Canadian Natural Resources to a "hold" rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on Canadian Natural Resources from C$67.00 to C$75.00 in a report on Wednesday, August 12th.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$75.50 on Friday. The company's fifty day simple moving average is C$70.18 and its 200-day simple moving average is C$65.26. Canadian Natural Resources has a 52 week low of C$41.68 and a 52 week high of C$77.60. The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. The company has a market cap of C$155.64 billion, a PE ratio of 13.43, a P/E/G ratio of 0.53 and a beta of 0.38.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last announced its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. The firm had revenue of C$14.74 billion during the quarter. As a group, equities research analysts anticipate that Canadian Natural Resources will post 3.83 EPS for the current year.

Insiders Place Their Bets

In other news, Director Shelley Ann Marie Brown acquired 709 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of C$70.44 per share, with a total value of C$49,941.96. Following the completion of the transaction, the director directly owned 1,780 shares of the company's stock, valued at C$125,383.20. The trade was a 66.20% increase in their ownership of the stock. 4.26% of the stock is currently owned by corporate 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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