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 price objective lifted by equities researchers at Wells Fargo & Company from C$42.00 to C$46.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 6.11% from the company's previous close.

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

Canadian Natural Resources Stock Performance

CNQ stock traded up C$0.31 during midday trading on Thursday, reaching C$43.35. The company had a trading volume of 2,674,730 shares, compared to its average volume of 14,446,950. The firm has a market capitalization of C$90.98 billion, a PE ratio of 12.04, a P/E/G ratio of 0.53 and a beta of 1.89. The stock has a 50 day moving average price of C$42.52 and a 200 day moving average price of C$42.85. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$52.15. 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 at Canadian Natural Resources

In other news, Senior Officer Scott Gerald Stauth sold 55,000 shares of Canadian Natural Resources stock in a transaction on Thursday, June 19th. The stock was sold at an average price of C$46.22, for a total transaction of C$2,542,100.00. Also, Senior Officer Mark Anthony Overwater sold 8,260 shares of the company's stock in a transaction dated Thursday, June 19th. The shares were sold at an average price of C$46.44, for a total value of C$383,594.40. Over the last ninety days, insiders sold 204,676 shares of company stock valued at $9,317,969. 4.26% of the stock is currently owned by corporate 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.

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