Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price dropped by equities researchers at Raymond James from C$53.00 to C$49.00 in a report released on Monday, Price Targets.com reports. The brokerage presently has an "outperform" rating on the stock. Raymond James' target price indicates a potential upside of 28.10% from the company's current price.
Several other analysts also recently issued reports on CNQ. BMO Capital Markets upped their price objective on Canadian Natural Resources from C$45.00 to C$52.00 and gave the company a "na" rating in a research report on Monday, March 15th. Royal Bank of Canada reiterated an "outperform" rating and set a C$43.00 target price on shares of Canadian Natural Resources in a research report on Wednesday, April 7th. National Bankshares reduced their target price on Canadian Natural Resources from C$50.00 to C$49.00 and set an "outperform" rating on the stock in a research report on Thursday. CSFB set a C$52.00 target price on Canadian Natural Resources and gave the stock a "neutral" rating in a research report on Thursday, April 8th. Finally, National Bank Financial reduced their target price on Canadian Natural Resources to C$49.00 and set an "outperform" rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. The company has a consensus rating of "Buy" and a consensus price target of C$40.54.
Shares of TSE:CNQ traded down C$0.29 on Monday, hitting C$38.25. The company had a trading volume of 938,701 shares, compared to its average volume of 6,731,968. The company has a current ratio of 0.86, a quick ratio of 0.59 and a debt-to-equity ratio of 71.47. Canadian Natural Resources has a 52-week low of C$17.00 and a 52-week high of C$41.05. The business has a 50 day moving average of C$38.38 and a 200 day moving average of C$31.21. The company has a market cap of C$45.37 billion and a PE ratio of -103.24.
Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, March 4th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of C$0.06 by C($0.01). The firm had revenue of C$5.02 billion during the quarter, compared to analyst estimates of C$4.88 billion. As a group, equities analysts predict that Canadian Natural Resources will post 3.05 EPS for the current year.
In related news, Director Stephen W. Laut sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of C$40.36, for a total value of C$201,800.00. Following the sale, the director now owns 2,275,112 shares of the company's stock, valued at approximately C$91,823,520.32. In the last ninety days, insiders have sold 85,875 shares of company stock worth $3,342,743.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
Further Reading: Understanding the different types of bonds
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Stop Order7 Stocks to Watch When Student Debt Forgiveness Gets Passed
Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.
If $10,000 of student debt were to be canceled, there are estimates that one-third of borrowers (between 15 million to 16.3 million) would become debt-free. Of course, if the number hits $50,000 as some lawmakers are suggesting the impact would even greater.
Putting aside personal thoughts on the wisdom of pursuing this path, it has the potential to unleash a substantial stimulus into the economy.
And as an investor, it’s fair to ask where that money would go. After all, there’s no harm in having investors profit from this stimulus as well.
A counter-argument is that the absence of one monthly payment may not provide enough money to make an impact. However, Senator Elizabeth Warren referred to the effect student loans have in preventing many in the millennial and Gen-Z generations from pursuing big picture life goals such as buying a house, starting a business, or starting a family.
With that in mind, we’ve put together this special presentation that looks at 7 stocks that are likely to benefit if borrowers are set free from the burden of student loans.
View the "7 Stocks to Watch When Student Debt Forgiveness Gets Passed"