Canadian Natural Resources (TSE:CNQ) Announces Quarterly Earnings Results

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) released its earnings results on Thursday. The company reported C$0.82 earnings per share for the quarter, FiscalAI reports. Canadian Natural Resources had a net margin of 15.49% and a return on equity of 16.47%.

Canadian Natural Resources Stock Performance

Shares of TSE CNQ traded up C$0.28 during trading on Friday, reaching C$62.24. The stock had a trading volume of 1,532,039 shares, compared to its average volume of 12,157,115. The company has a debt-to-equity ratio of 42.68, a quick ratio of 0.54 and a current ratio of 0.86. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$64.00. The firm’s 50 day moving average price is C$51.50 and its two-hundred day moving average price is C$47.00. The stock has a market cap of C$129.65 billion, a PE ratio of 19.63, a P/E/G ratio of 0.53 and a beta of 0.81.

Insiders Place Their Bets

In other news, insider Erin Louise Lunn sold 2,252 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the transaction, the insider owned 51,142 shares in the company, valued at approximately C$2,540,734.56. This represents a 4.22% decrease in their ownership of the stock. Also, insider Brenda Gayle Balog sold 2,252 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total value of C$112,554.96. Following the completion of the transaction, the insider directly owned 47,965 shares of the company’s stock, valued at C$2,397,290.70. This trade represents a 4.48% decrease in their ownership of the stock. In the last quarter, insiders have sold 51,775 shares of company stock worth $2,571,074. 4.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Desjardins set a C$52.00 target price on Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. TD Securities upped their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Evercore lowered Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 target price on the stock. in a report on Tuesday, January 6th. National Bank Financial increased their price objective on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial raised their price target on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$54.40.

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.