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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$54.33.

A number of brokerages have commented on CNQ. Scotiabank upped their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Royal Bank Of Canada set a C$62.00 price objective on Canadian Natural Resources and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Raymond James Financial lifted their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. National Bankshares upped their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company set a C$47.00 price target on Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th.

Insider Transactions at Canadian Natural Resources

In other news, insider Ronald Keith Laing sold 20,000 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the transaction, the insider directly owned 2,049 shares in the company, valued at approximately C$92,553.33. This trade represents a 90.71% decrease in their ownership of the stock. Also, insider Brenda Gayle Balog sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the transaction, the insider directly owned 47,965 shares of the company’s stock, valued at C$2,184,805.75. This trade represents a 8.58% decrease in their position. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ stock opened at C$46.49 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The business’s fifty day simple moving average is C$45.68 and its two-hundred day simple moving average is C$44.22. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$49.20. The firm has a market cap of C$96.84 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.53 and a beta of 0.73.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. The firm had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. Analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

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.