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

Key Points

• TD Securities raised its price target on Canadian Natural Resources to C$64 (from C$51) and maintained a "buy" rating, though that target implies only about a 1.31% upside from the stock's recent close (C$63.17).
• Other brokers were mostly positive—BMO lifted its target to C$70, ATB and RBC to C$65—but views are mixed (six Buys, five Holds) leaving a MarketBeat consensus of "Moderate Buy" with a C$58.42 average target.
• The stock traded up ~2% to C$63.17, near its 52-week high of C$64, while insiders have been net sellers (51,775 shares sold, ~$2.57M in the last three months); the company has a market cap of ~C$131.6B and a P/E of ~19.9.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price target upped by equities research analysts at TD Securities from C$51.00 to C$64.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' price target points to a potential upside of 1.31% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Gerdes Energy Research downgraded Canadian Natural Resources from a "buy" rating to a "neutral" rating in a report on Thursday, February 12th. ATB Cormark Capital Markets lifted their price objective 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. BMO Capital Markets boosted their target price on Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an "outperform" rating in a research note on Friday. Morgan Stanley lowered their target price on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Finally, Royal Bank Of Canada raised their price objective on Canadian Natural Resources from C$61.00 to C$65.00 and gave the stock an "outperform" rating in a report on Friday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$58.42.

Canadian Natural Resources Trading Up 2.0%

Shares of TSE CNQ traded up C$1.21 during trading 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. The company has a market cap of C$131.59 billion, a P/E ratio of 19.93, a PEG ratio of 0.53 and a beta of 0.81. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$64.00. The business's 50-day moving average price is C$51.50 and its 200-day moving average price is C$47.00.

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

Insider Buying and Selling

In other Canadian Natural Resources news, insider Trevor Wagil sold 14,500 shares of the stock in a transaction 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 owned 14,779 shares in the company, valued at approximately C$738,358.84. This represents a 49.52% decrease in their ownership of the stock. Also, insider Brenda Gayle Balog sold 2,252 shares of the firm's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.98, for a total value 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. This trade represents a 4.48% decrease in their position. Insiders have sold 51,775 shares of company stock worth $2,571,074 in the last three months. 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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