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 Performance

CNQ Stock traded up C$0.55 on Friday, reaching C$71.86. 2,218,229 shares of the company were exchanged, compared to its average volume of 6,037,131. Canadian Natural Resources has a 12 month low of C$37.82 and a 12 month high of C$88.18. The stock's fifty day moving average price is C$69.49 and its 200 day moving average price is C$73.87. The firm has a market capitalization of C$82.95 billion and a PE ratio of 9.06. The company has a debt-to-equity ratio of 40.17, a current ratio of 0.75 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ - Get Rating) (NYSE:CNQ) last issued its earnings results on Thursday, August 4th. The company reported C$3.26 EPS for the quarter, beating the consensus estimate of C$2.85 by C$0.41. The firm had revenue of C$11.48 billion during the quarter, compared to analyst estimates of C$10.04 billion. On average, research analysts anticipate that Canadian Natural Resources will post 10.0999994 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNQ. TD Securities increased their target price on shares of Canadian Natural Resources from C$91.00 to C$92.00 and gave the stock a "buy" rating in a research note on Friday, August 5th. Wells Fargo & Company raised their price target on shares of Canadian Natural Resources from C$79.00 to C$84.00 and gave the stock a "na" rating in a report on Friday, May 6th. Raymond James lifted their target price on shares of Canadian Natural Resources from C$87.00 to C$90.00 and gave the company an "outperform" rating in a report on Tuesday, July 5th. Stifel Nicolaus decreased their price target on shares of Canadian Natural Resources from C$115.00 to C$111.00 in a research report on Monday, August 8th. Finally, CIBC raised their price target on shares of Canadian Natural Resources from C$90.00 to C$95.00 in a research report on Thursday, June 9th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Canadian Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price of C$79.73.

Insiders Place Their Bets

In other news, Director Stephen W. Laut sold 375 shares of the company's stock in a transaction dated 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 approximately C$118,038,226.20. In other Canadian Natural Resources news, Director Stephen W. Laut sold 375 shares of the company'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 transaction, the director now owns 1,764,398 shares of the company's stock, valued at approximately C$118,038,226.20. Also, Director Norman Murray Edwards sold 121,832 shares of the 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 value of C$10,262,274.86. Following the completion of the sale, the director now directly owns 21,381,798 shares of the company's stock, valued at approximately C$1,801,052,990.93. In the last three months, insiders sold 160,332 shares of company stock valued at $13,460,381.