Morgan Stanley Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$50.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target decreased by Morgan Stanley from C$51.00 to C$50.00 in a research note released on Friday morning,BayStreet.CA reports.

Several other brokerages also recently issued reports on CNQ. Desjardins set a C$52.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a report on Wednesday, December 17th. Wells Fargo & Company set a C$47.00 target price on Canadian Natural Resources and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Scotiabank boosted their price target on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Raymond James Financial upped their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. Finally, TD Securities increased their price objective on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$53.36.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ opened at C$49.47 on Friday. The company has a market cap of C$103.05 billion, a PE ratio of 15.61, a P/E/G ratio of 0.53 and a beta of 0.71. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$49.95. The firm has a 50-day simple moving average of C$46.27 and a 200 day simple moving average of C$44.50. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79.

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. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The firm had revenue of C$9.52 billion for the quarter. On average, sell-side analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Activity at Canadian Natural Resources

In related news, insider Trevor Wagil sold 2,469 shares of Canadian Natural Resources stock in a transaction dated 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 sale, the insider directly owned 14,779 shares in the company, valued at C$667,863.01. The trade was a 14.31% decrease in their ownership of the stock. Company insiders own 4.26% of the company’s stock.

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.