Canadian Natural Resources Limited (TSE:CNQ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$68.53.

A number of equities analysts have commented on CNQ shares. Evercore ISI upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Wells Fargo & Company reduced their target price on Canadian Natural Resources from C$50.00 to C$44.00 in a report on Friday, March 7th. Jefferies Financial Group dropped their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a C$56.00 price objective on the stock in a research note on Wednesday, March 19th. Finally, Raymond James increased their target price on Canadian Natural Resources from C$51.00 to C$52.00 and gave the stock a “market perform” rating in a report on Friday, March 7th.

Canadian Natural Resources Stock Up 1.3 %

Shares of TSE CNQ opened at C$44.28 on Thursday. The business has a fifty day moving average of C$42.99 and a two-hundred day moving average of C$45.24. 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 stock has a market cap of C$92.93 billion, a PE ratio of 12.29, a PEG ratio of 0.53 and a beta of 1.89.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Calvin John Bast sold 7,500 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of C$41.80, for a total value of C$313,500.00. Also, Senior Officer Trevor Wagil sold 4,504 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of C$40.86, for a total value of C$184,046.95. In the last quarter, insiders have sold 154,684 shares of company stock valued at $6,940,170. 4.26% of the stock is currently owned by insiders.

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.