Analysts Set Canadian Natural Resources Limited (TSE:CNQ) Target Price at C$71.44

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$69.13.

Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Canadian Natural Resources from C$48.00 to C$50.00 in a research note on Monday, December 9th. BMO Capital Markets dropped their price objective on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Royal Bank of Canada dropped their price objective on Canadian Natural Resources from C$63.00 to C$62.00 in a research note on Tuesday, January 14th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Finally, TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the company a “buy” rating in a research note on Tuesday, December 3rd.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Victor Clinton Darel sold 2,252 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of C$43.68, for a total transaction of C$98,367.36. Also, Senior Officer Troy John Peter Andersen sold 19,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of C$47.45, for a total value of C$901,607.00. Over the last ninety days, insiders sold 146,932 shares of company stock worth $6,613,689. 4.26% of the stock is currently owned by insiders.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$39.95 on Friday. Canadian Natural Resources has a 1-year low of C$37.11 and a 1-year high of C$56.49. The company has a market capitalization of C$83.84 billion, a P/E ratio of 11.09, a PEG ratio of 0.53 and a beta of 1.89. The business has a 50 day moving average price of C$43.82 and a 200 day moving average price of C$45.89. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

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.