Morgan Stanley Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lowered by equities research analysts at Morgan Stanley from C$51.00 to C$50.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Morgan Stanley’s price objective would suggest a potential upside of 1.07% from the stock’s current price.

Several other research firms also recently weighed in on CNQ. Raymond James Financial upped their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Desjardins set a C$52.00 price target on shares of Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. Evercore ISI cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. National Bankshares lowered their price target on Canadian Natural Resources from C$48.00 to C$47.00 and set a “sector perform” rating for the company in a research report on Friday, January 9th. Finally, Wells Fargo & Company set a C$47.00 target price on shares of Canadian Natural Resources and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$53.36.

Canadian Natural Resources Stock Up 1.2%

TSE:CNQ opened at C$49.47 on Friday. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$49.95. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. 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. The firm’s 50 day simple moving average is C$46.27 and its 200 day simple moving average is C$44.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced 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 return on equity of 19.14% and a net margin of 21.25%.The business had revenue of C$9.52 billion during the quarter. On average, research analysts anticipate that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Activity

In other Canadian Natural Resources news, insider Trevor Wagil sold 2,469 shares of Canadian Natural Resources stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the completion of the transaction, the insider owned 14,779 shares of the company’s stock, valued at C$667,863.01. The trade was a 14.31% decrease in their position. 4.26% of the stock is currently owned by corporate insiders.

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.