Canadian Natural Resources (CNQ) Stock Forecast, Price & News

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 and refining assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. As of December 31, 2020, the company had total proved crude oil, bitumen, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil, bitumen, and NGLs reserves were 13,271 MMbbl; proved SCO reserves were 6,998 MMbbl; total proved plus probable SCO reserves were 7,535 MMbbl; proved natural gas reserves were 12,168 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 20,249 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. National Bankshares reduced their price target on Canadian Natural Resources from C$115.00 to C$100.00 and set an "outperform" rating for the company in a research report on Monday, July 18th. BMO Capital Markets increased their price target on Canadian Natural Resources from C$92.00 to C$95.00 in a research report on Friday, May 6th. JPMorgan Chase & Co. increased their price target on Canadian Natural Resources from C$92.00 to C$94.00 in a research report on Friday. Wells Fargo & Company increased their price target on Canadian Natural Resources from C$79.00 to C$84.00 and gave the company a "na" rating in a research report on Friday, May 6th. Finally, Credit Suisse Group increased their price target on Canadian Natural Resources to C$93.00 and gave the company an "outperform" rating in a research report on Monday, May 9th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$79.91.

Canadian Natural Resources Stock Performance

Shares of TSE:CNQ traded up C$1.83 during trading hours on Friday, reaching C$67.24. 5,169,971 shares of the stock were exchanged, compared to its average volume of 6,099,260. The firm has a market capitalization of C$77.62 billion and a price-to-earnings ratio of 8.48. The company has a debt-to-equity ratio of 40.17, a quick ratio of 0.54 and a current ratio of 0.75. Canadian Natural Resources has a 52 week low of C$37.82 and a 52 week high of C$88.18. The stock's fifty day simple moving average is C$71.08 and its 200 day simple moving average is C$73.75.

Canadian Natural Resources (TSE:CNQ - Get Rating) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, August 4th. The company reported C$3.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$2.85 by C$0.41. The company had revenue of C$11.48 billion for the quarter, compared to analyst estimates of C$10.04 billion. Sell-side analysts predict that Canadian Natural Resources will post 10.0999994 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Darren Fichter sold 750 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of C$78.51, for a total transaction of C$58,882.50. Following the sale, the insider now owns 73,402 shares of the company's stock, valued at C$5,762,791.02. In other news, Director Stephen W. Laut sold 375 shares of Canadian Natural Resources stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of C$66.90, for a total value of C$25,087.50. Following the transaction, the director now owns 1,764,398 shares in the company, valued at approximately C$118,038,226.20. Also, Senior Officer Darren Fichter sold 750 shares of Canadian Natural Resources stock in a transaction on Thursday, May 19th. The shares were sold at an average price of C$78.51, for a total value of C$58,882.50. Following the completion of the transaction, the insider now owns 73,402 shares in the company, valued at approximately C$5,762,791.02. Insiders have sold 220,332 shares of company stock valued at $18,124,781 over the last 90 days.