Wells Fargo & Company Lowers Canadian Natural Resources (TSE:CNQ) Price Target to C$44.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target trimmed by Wells Fargo & Company from C$50.00 to C$44.00 in a research note published on Friday morning,BayStreet.CA reports.

A number of other research firms have also commented on CNQ. BMO Capital Markets reduced their price objective on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Jefferies Financial Group dropped their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Royal Bank of Canada dropped their target price on shares of Canadian Natural Resources from C$63.00 to C$62.00 in a research report on Tuesday, January 14th. Finally, TD Securities set a C$58.00 target price on shares of Canadian Natural Resources and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$68.60.

Canadian Natural Resources Trading Up 2.0 %

TSE:CNQ opened at C$40.74 on Friday. The firm’s fifty day moving average is C$43.77 and its 200-day moving average is C$45.83. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. Canadian Natural Resources has a 52 week low of C$37.11 and a 52 week high of C$56.49. The firm has a market cap of C$85.50 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.53 and a beta of 1.89.

Insiders Place Their Bets

In other news, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of C$43.68, for a total value of C$98,367.36. Also, Director Stephen W. Laut bought 942 shares of Canadian Natural Resources stock in a transaction dated Monday, January 6th. The stock was purchased at an average price of C$46.46 per share, with a total value of C$43,765.32. Over the last 90 days, insiders have sold 146,932 shares of company stock worth $6,613,689. Insiders own 4.26% of the company’s stock.

About Canadian Natural Resources

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.