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.

Canadian Natural Resources Stock Down 2.1 %

Shares of TSE:CNQ traded down C$1.49 on Monday, reaching C$70.37. 1,820,474 shares of the company's stock traded hands, compared to its average volume of 6,008,979. Canadian Natural Resources has a 12 month low of C$37.82 and a 12 month high of C$88.18. The business's 50 day simple moving average is C$69.49 and its two-hundred day simple moving average is C$74.00. The company has a market cap of C$81.23 billion and a price-to-earnings ratio of 7.46. The company has a quick ratio of 0.60, a current ratio of 0.85 and a debt-to-equity ratio of 36.02.

Canadian Natural Resources (TSE:CNQ - Get Rating) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, August 4th. The company reported C$3.26 EPS for the quarter, beating analysts' consensus estimates of C$2.85 by C$0.41. The firm had revenue of C$11.48 billion for the quarter, compared to analysts' expectations of C$10.04 billion. As a group, equities research analysts forecast that Canadian Natural Resources will post 10.0200001 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNQ. Wells Fargo & Company upped their target price on shares of Canadian Natural Resources from C$79.00 to C$84.00 and gave the stock a "na" rating in a research report on Friday, May 6th. JPMorgan Chase & Co. upped their price target on shares of Canadian Natural Resources from C$92.00 to C$94.00 in a research report on Friday, August 5th. Credit Suisse Group restated a "neutral" rating and set a C$93.00 price target on shares of Canadian Natural Resources in a research report on Thursday. CSFB set a C$93.00 price target on shares of Canadian Natural Resources and gave the company a "neutral" rating in a research report on Thursday. Finally, BMO Capital Markets increased their target price on shares of Canadian Natural Resources from C$92.00 to C$95.00 in a report on Friday, May 6th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$79.73.

Insider Activity

In other news, Senior Officer Trevor James Cassidy sold 9,500 shares of the stock in a transaction that occurred on Monday, May 30th. The shares were sold at an average price of C$86.68, for a total transaction of C$823,460.00. Following the sale, the insider now owns 34,806 shares in the company, valued at C$3,016,984.08. In related news, Senior Officer Trevor James Cassidy sold 9,500 shares of the firm's stock in a transaction that occurred on Monday, May 30th. The shares were sold at an average price of C$86.68, for a total value of C$823,460.00. Following the sale, the insider now owns 34,806 shares in the company, valued at C$3,016,984.08. Also, Director Stephen W. Laut sold 375 shares of the firm's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of C$66.90, for a total transaction of C$25,087.50. Following the completion of the sale, the director now owns 1,764,398 shares in the company, valued at approximately C$118,038,226.20. Insiders have sold a total of 155,332 shares of company stock worth $13,056,406 over the last 90 days.