TD Securities Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Key Points

• TD Securities raised its target price on Canadian Natural Resources to C$54 (from C$53), implying about 21.43% upside, and the stock's consensus rating is "Moderate Buy" with an average target of C$54.40.
• The stock trades around C$44.47 with a market cap of C$92.52 billion, a P/E of 11.29, and a one‑year trading range of C$34.92–C$48.92.
• Insiders have been net sellers—31,500 shares worth roughly $1.42 million were sold in the past 90 days—though insiders still own 4.26% of the company.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price raised by stock analysts at TD Securities from C$53.00 to C$54.00 in a note issued to investors on Monday,BayStreet.CA reports. TD Securities' target price would indicate a potential upside of 21.43% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company set a C$47.00 target price on shares of Canadian Natural Resources and gave the stock an "equal weight" rating in a report on Friday, October 17th. National Bankshares raised their price objective on shares of Canadian Natural Resources from C$45.00 to C$48.00 and gave the company a "sector perform" rating in a research note on Friday. Raymond James Financial boosted their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Royal Bank Of Canada lowered their target price on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Scotiabank lifted their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$54.40.

Canadian Natural Resources Trading Up 0.2%

Canadian Natural Resources stock traded up C$0.07 during trading hours on Monday, hitting C$44.47. The stock had a trading volume of 2,430,111 shares, compared to its average volume of 14,403,603. The business's 50 day simple moving average is C$44.04 and its 200-day simple moving average is C$43.22. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$48.92. The stock has a market cap of C$92.52 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.53 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79.

Insider Buying and Selling

In related news, insider Ronald Keith Laing sold 20,000 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the sale, the insider directly owned 2,049 shares in the company, valued at approximately C$92,553.33. The trade was a 90.71% decrease in their position. Also, insider Brenda Gayle Balog sold 4,500 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the sale, the insider directly owned 47,965 shares in the company, valued at C$2,184,805.75. This trade represents a 8.58% decrease in their position. In the last ninety days, insiders sold 31,500 shares of company stock valued at $1,415,815. 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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