Canadian Natural Resources Limited (TSE:CNQ) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$54.70.

A number of brokerages recently weighed in on CNQ. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a C$52.00 target price for the company. in a research note on Monday, November 24th. 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 report on Thursday, November 20th. Scotiabank increased their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. National Bankshares boosted their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Finally, Raymond James Financial upped their price target on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th.

Insider Buying and Selling

In related news, insider Ronald Keith Laing sold 20,000 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of C$45.17, for a total value of C$903,400.00. Following the completion of the transaction, the insider owned 2,049 shares of the company’s stock, 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 Canadian Natural Resources stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the sale, the insider owned 47,965 shares in the company, valued at C$2,184,805.75. The trade was a 8.58% decrease in their ownership of the stock. Over the last 90 days, insiders sold 31,500 shares of company stock worth $1,415,815. 4.26% of the stock is owned by insiders.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$47.67 on Tuesday. 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$34.92 and a 52 week high of C$49.20. The company’s 50 day moving average price is C$45.03 and its two-hundred day moving average price is C$43.83. The company has a market capitalization of C$99.30 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67.

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

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.