National Bankshares Forecasts Strong Price Appreciation for Canadian Natural Resources (TSE:CNQ) Stock

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective increased by research analysts at National Bankshares from C$47.00 to C$54.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ price target indicates a potential upside of 2.56% from the company’s previous close.

CNQ has been the topic of several other reports. Scotiabank increased their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research note 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 report on Monday, November 10th. TD Securities lifted their price objective on Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Royal Bank Of Canada decreased their target price on 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. Finally, Morgan Stanley lowered their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and an average target price of C$54.40.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$52.65 on Tuesday. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$52.91. The stock’s 50-day simple moving average is C$46.81 and its 200 day simple moving average is C$44.91. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The stock has a market capitalization of C$109.68 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced 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 return on equity of 19.14% and a net margin of 21.25%.The firm had revenue of C$9.52 billion for the quarter. Research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Transactions at Canadian Natural Resources

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