Canadian Natural Resources (TSE:CNQ) Insider Sells C$111,879.36 in Stock

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) insider Erin Louise Lunn sold 2,252 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the sale, the insider directly owned 51,142 shares of the company’s stock, valued at approximately C$2,540,734.56. This represents a 4.22% decrease in their ownership of the stock.

Canadian Natural Resources Price Performance

TSE CNQ opened at C$58.02 on Tuesday. Canadian Natural Resources Limited has a 12 month low of C$34.92 and a 12 month high of C$59.08. The firm has a market capitalization of C$120.86 billion, a PE ratio of 18.30, a P/E/G ratio of 0.53 and a beta of 0.70. The company’s 50 day simple moving average is C$49.02 and its 200 day simple moving average is C$46.04. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CNQ. Desjardins set a C$52.00 target price on Canadian Natural Resources and gave the stock a “hold” rating in a report on Wednesday, December 17th. Raymond James Financial lifted their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Royal Bank Of Canada cut their target price on shares of 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. Gerdes Energy Research cut shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a report on Thursday, February 12th. Finally, Morgan Stanley dropped their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of C$54.40.

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.