Canadian Natural Resources (TSE:CNQ) Hits New 1-Year High After Analyst Upgrade

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price hit a new 52-week high during trading on Wednesday after National Bankshares raised their price target on the stock from C$47.00 to C$54.00. National Bankshares currently has a sector perform rating on the stock. Canadian Natural Resources traded as high as C$52.01 and last traded at C$51.80, with a volume of 1739104 shares changing hands. The stock had previously closed at C$51.11.

Several other research analysts have also recently commented on CNQ. Scotiabank increased their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Evercore Partners cut Canadian Natural Resources from an “outperform” rating to an “in-line” rating and set a C$50.00 price objective on the stock. in a research note on Tuesday, January 6th. Raymond James Financial increased their price objective on Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Morgan Stanley lowered their target price on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Finally, Royal Bank Of Canada dropped their price target 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 report on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$54.40.

Insiders Place Their Bets

In related news, insider Trevor Wagil sold 2,469 shares of the stock in a transaction on 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 sale, the insider owned 14,779 shares in the company, valued at approximately C$667,863.01. This represents a 14.31% decrease in their position. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Down 1.4%

The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The stock has a market cap of C$108.11 billion, a P/E ratio of 16.37, a PEG ratio of 0.53 and a beta of 0.70. The firm has a 50-day simple moving average of C$46.92 and a two-hundred day simple moving average of C$44.96.

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 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. Equities research analysts expect that Canadian Natural Resources Limited 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.