Canadian Natural Resources Limited (TSE:CNQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$63.73.

CNQ has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Canadian Natural Resources from C$48.00 to C$59.00 in a research report on Monday, March 16th. Royal Bank Of Canada increased their price objective on Canadian Natural Resources from C$65.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. TD increased their price objective on Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on Canadian Natural Resources from C$48.00 to C$70.00 in a research report on Tuesday, April 7th. Finally, Desjardins increased their price objective on Canadian Natural Resources from C$52.00 to C$56.00 and gave the stock a “hold” rating in a research report on Monday, March 9th.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Gordon D. Giffin sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the transaction, the director directly owned 171,210 shares in the company, valued at C$11,643,992.10. This represents a 12.74% decrease in their ownership of the stock. 4.26% of the stock is owned by company insiders.

Canadian Natural Resources Trading Down 3.6%

Shares of Canadian Natural Resources stock opened at C$64.80 on Tuesday. The firm has a market capitalization of C$135.15 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.53 and a beta of 0.48. Canadian Natural Resources has a fifty-two week low of C$40.62 and a fifty-two week high of C$70.99. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98. The stock has a 50 day moving average of C$64.93 and a 200 day moving average of C$55.23.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. The company had revenue of C$10.81 billion during the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. As a group, research analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current 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.