Raymond James Financial Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Key Points

• Raymond James raised its price target on Canadian Natural Resources to C$55 and maintained an "outperform" rating, though that target implies roughly a 12.93% downside from the stock's recent price.
• Analysts collectively rate CNQ a Moderate Buy (six Buys, five Holds) with an average price target of C$58.42, while individual broker targets range from about C$50 to C$65 (ATB Cormark highest).
• CNQ traded at C$63.17 on Friday—near its 12‑month high of C$64—with a market cap of C$131.6B, a PE of ~19.9, recent quarterly EPS of C$0.82, and expected full‑year EPS of about 3.83.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price objective upped by equities researchers at Raymond James Financial from C$53.00 to C$55.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's target price points to a potential downside of 12.93% from the company's current price.

Several other brokerages have also recently issued reports on CNQ. Morgan Stanley decreased their price target on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. TD Securities upped their price target on Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. National Bank Financial raised their price objective on Canadian Natural Resources from C$47.00 to C$54.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 3rd. Evercore downgraded 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 report on Tuesday, January 6th. Finally, ATB Cormark Capital Markets boosted their price target on shares of Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an "outperform" rating in a research report on Friday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$58.42.

Canadian Natural Resources Price Performance

Shares of CNQ traded up C$1.21 during trading hours on Friday, reaching C$63.17. The stock had a trading volume of 5,804,543 shares, compared to its average volume of 12,278,394. The company has a debt-to-equity ratio of 42.68, a quick ratio of 0.54 and a current ratio of 0.86. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$64.00. The stock has a market capitalization of C$131.59 billion, a PE ratio of 19.93, a PEG ratio of 0.53 and a beta of 0.81. The company's 50-day moving average is C$51.50 and its two-hundred day moving average is C$47.00.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last issued its earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 16.47% and a net margin of 15.49%. Research analysts expect that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Buying and Selling

In other Canadian Natural Resources news, insider Trevor Wagil sold 14,500 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the transaction, the insider directly owned 14,779 shares in the company, valued at approximately C$738,358.84. This trade represents a 49.52% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of the company's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of C$49.83, for a total transaction of C$996,600.00. Following the completion of the sale, the insider owned 2,049 shares of the company's stock, valued at approximately C$102,101.67. The trade was a 90.71% decrease in their position. Over the last ninety days, insiders have sold 51,775 shares of company stock valued at $2,571,074. 4.26% of the stock is currently 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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