Canadian Natural Resources (TSE:CNQ) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a sector perform rating to an outperform rating in a research note released on Wednesday,BayStreet.CA reports. They currently have C$56.00 price target on the stock.

CNQ has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on Canadian Natural Resources from C$50.00 to C$44.00 in a report on Friday, March 7th. National Bankshares decreased their price target on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a report on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group cut their target price on Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$68.53.

Canadian Natural Resources Stock Down 1.5 %

Shares of TSE CNQ opened at C$43.47 on Wednesday. The company has a market capitalization of C$91.23 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The business has a 50-day moving average of C$43.12 and a two-hundred day moving average of C$45.35. Canadian Natural Resources has a 1 year low of C$37.11 and a 1 year high of C$56.49.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Robin Sean Zabek sold 19,000 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total value of C$818,254.00. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of Canadian Natural Resources stock in a transaction that occurred 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. Insiders have sold 165,936 shares of company stock worth $7,409,291 in the last quarter. Company 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.