Canadian Natural Resources (TSE:CNQ) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. Jefferies Financial Group decreased their price objective on Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Raymond James raised their price objective on Canadian Natural Resources from C$51.00 to C$52.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, BMO Capital Markets decreased their price objective on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$68.60.

Canadian Natural Resources Trading Up 2.0 %

Shares of TSE:CNQ opened at C$40.74 on Friday. The stock’s 50-day simple moving average is C$43.77 and its two-hundred day simple 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 stock has a market capitalization of C$85.50 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.53 and a beta of 1.89.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of Canadian Natural Resources stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of C$44.98, for a total value of C$3,643,380.00. Also, Director Stephen W. Laut sold 3,180 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total value of C$139,761.00. Insiders have sold a total of 146,932 shares of company stock valued at $6,613,689 in the last quarter. 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.