Gerdes Energy Research Downgrades Canadian Natural Resources (TSE:CNQ) to Neutral

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by equities research analysts at Gerdes Energy Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,BayStreet.CA reports.

Several other equities analysts also recently commented on CNQ. National Bank Financial increased their price objective on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Morgan Stanley lowered their price target on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Royal Bank Of Canada dropped their price target on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Wells Fargo & Company set a C$47.00 price objective on Canadian Natural Resources and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Finally, Evercore cut Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 target price for the company. in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and an average price target of C$54.40.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$55.39 on Thursday. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$55.50. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The stock’s 50-day simple moving average is C$47.70 and its 200 day simple moving average is C$45.43. The firm has a market capitalization of C$115.38 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, November 6th. The company reported C$0.86 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 during the quarter. On average, analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal 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 that occurred 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 transaction, the insider directly owned 14,779 shares of the company’s stock, valued at C$667,863.01. The trade was a 14.31% decrease in their ownership of the stock. 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.