Wells Fargo & Company Lowers Canadian Natural Resources (TSE:CNQ) Price Target to C$40.00

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price objective lowered by equities research analysts at Wells Fargo & Company from C$44.00 to C$40.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 5.29% from the stock's previous close.

Several other equities research analysts also recently weighed in on CNQ. Royal Bank of Canada upped their price target on Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. Jefferies Financial Group reduced their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. BMO Capital Markets decreased their price objective on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Finally, Evercore ISI raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$60.38.

Canadian Natural Resources Stock Up 0.7 %

CNQ stock traded up C$0.27 during midday trading on Wednesday, hitting C$37.99. The company's stock had a trading volume of 15,326,968 shares, compared to its average volume of 13,322,354. The firm has a 50-day simple moving average of C$41.83 and a 200-day simple moving average of C$44.85. The firm has a market capitalization of C$79.73 billion, a P/E ratio of 10.55, a PEG ratio of 0.53 and a beta of 1.89. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$54.69.

Insider Buying and Selling at Canadian Natural Resources

In related news, Director Stephen W. Laut sold 3,180 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total transaction of C$139,761.00. Also, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of Canadian Natural Resources stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. In the last three months, insiders sold 128,184 shares of company stock worth $5,690,788. Insiders own 4.26% of the company's stock.

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.