Wells Fargo & Company Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price boosted by equities researchers at Wells Fargo & Company from C$42.00 to C$46.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 6.70% from the stock's previous close.

CNQ has been the subject of several other research reports. Royal Bank Of Canada raised their price target on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating and decreased their target price for the company from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Evercore ISI raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Desjardins cut their price target on Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, CIBC lifted their price objective on Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$54.58.

Canadian Natural Resources Trading Down 1.0%

Canadian Natural Resources stock traded down C$0.45 during midday trading on Thursday, reaching C$43.11. 17,009,946 shares of the stock traded hands, compared to its average volume of 14,571,345. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm has a market cap of C$90.47 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a 50-day simple moving average of C$42.66 and a two-hundred day simple moving average of C$42.80. Canadian Natural Resources has a 12-month low of C$34.92 and a 12-month high of C$52.15.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Stephen W. Laut bought 980 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was purchased at an average price of C$44.65 per share, for a total transaction of C$43,757.00. Also, Senior Officer Mark Allen Stainthorpe sold 45,000 shares of Canadian Natural Resources stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of C$43.27, for a total value of C$1,947,150.00. Insiders sold a total of 249,676 shares of company stock worth $11,265,119 over the last 90 days. 4.26% of the stock is owned by insiders.

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.