Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$63.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price raised by investment analysts at Royal Bank of Canada from C$62.00 to C$63.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 54.41% from the company’s current price.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. TD Securities set a C$58.00 target price on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Finally, BMO Capital Markets reduced their price objective on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Stock Up 2.1 %

CNQ traded up C$0.85 during trading hours on Friday, hitting C$40.80. 4,300,082 shares of the company’s stock were exchanged, compared to its average volume of 9,381,774. The firm has a market cap of C$85.62 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 12-month low of C$37.11 and a 12-month high of C$56.49. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm has a 50 day moving average of C$43.82 and a 200 day moving average of C$45.89.

Insiders Place Their Bets

In other news, Senior Officer Robin Sean Zabek sold 19,000 shares of Canadian Natural Resources stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total value of C$818,254.00. Also, Director Stephen W. Laut sold 3,180 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total transaction of C$139,761.00. Insiders have sold a total of 146,932 shares of company stock valued at $6,613,689 over the last quarter. Company insiders own 4.26% of the company’s stock.

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.