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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNQ. Scotiabank downgraded shares of Canadian Natural Resources from an "outperform" rating to a "hold" rating and upped their price target for the stock from C$88.00 to C$91.00 in a report on Wednesday, June 8th. JPMorgan Chase & Co. upped their target price on Canadian Natural Resources from C$92.00 to C$94.00 in a report on Friday, August 5th. CSFB set a C$93.00 price target on Canadian Natural Resources and gave the company a "neutral" rating in a research note on Thursday, August 11th. CIBC upped their price objective on Canadian Natural Resources from C$90.00 to C$95.00 in a research note on Thursday, June 9th. Finally, BMO Capital Markets raised their price objective on shares of Canadian Natural Resources from C$92.00 to C$95.00 in a report on Friday, May 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$79.73.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$70.40 on Thursday. The stock's 50 day moving average price is C$68.59 and its two-hundred day moving average price is C$73.98. The stock has a market capitalization of C$81.27 billion and a price-to-earnings ratio of 7.31. The company has a debt-to-equity ratio of 36.02, a quick ratio of 0.60 and a current ratio of 0.85. Canadian Natural Resources has a 52-week low of C$37.82 and a 52-week high of C$88.18.

Canadian Natural Resources (TSE:CNQ - Get Rating) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, August 4th. The company reported C$3.26 earnings per share for the quarter, beating the consensus estimate 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. On average, equities analysts predict that Canadian Natural Resources will post 10.0200001 earnings per share for the current year.

Insider Transactions at Canadian Natural Resources

In other news, Director Stephen W. Laut sold 375 shares of the 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 value of C$25,087.50. Following the completion of the sale, the director now directly owns 1,764,398 shares of the company's stock, valued at C$118,038,226.20. In other Canadian Natural Resources news, Director Norman Murray Edwards sold 121,832 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of C$84.23, for a total transaction of C$10,262,274.86. Following the transaction, the director now owns 21,381,798 shares of the company's stock, valued at approximately C$1,801,052,990.93. Also, Director Stephen W. Laut sold 375 shares of the company's stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of C$66.90, for a total value of C$25,087.50. Following the completion of the transaction, the director now directly owns 1,764,398 shares of the company's stock, valued at C$118,038,226.20. Insiders sold a total of 149,582 shares of company stock valued at $12,607,310 over the last three months.