Gerdes Energy Research Downgrades Canadian Natural Resources (TSE:CNQ) to Neutral

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by equities research analysts at Gerdes Energy Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday,BayStreet.CA reports.

Several other equities analysts also recently issued reports on the stock. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research note on Tuesday, January 6th. Wells Fargo & Company set a C$47.00 price objective on Canadian Natural Resources and gave the company an “equal weight” rating in a research report on Friday, October 17th. National Bank Financial boosted 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 report on Tuesday, February 3rd. TD Securities raised 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. Finally, Royal Bank Of Canada lowered their target price on shares of Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$54.40.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded down C$0.79 during mid-day trading on Thursday, hitting C$54.38. 4,619,819 shares of the company were exchanged, compared to its average volume of 11,563,589. 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 has a 12-month low of C$34.92 and a 12-month high of C$55.50. The business’s 50 day simple moving average is C$47.42 and its two-hundred day simple moving average is C$45.28. The company has a market capitalization of C$113.28 billion, a P/E ratio of 17.15, a PEG ratio of 0.53 and a beta of 0.70.

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

Insider Activity

In related news, insider Trevor Wagil sold 2,469 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the transaction, the insider owned 14,779 shares of the company’s stock, valued at approximately C$667,863.01. The trade was a 14.31% decrease in their ownership of the stock. Insiders own 4.26% of the company’s stock.

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.