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

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

Several equities analysts recently commented on CNQ shares. Jefferies Financial Group upped their target price on Canadian Natural Resources from C$48.00 to C$59.00 in a research note on Monday, March 16th. Royal Bank Of Canada upped their target price on Canadian Natural Resources from C$65.00 to C$80.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. Desjardins upped their target price on Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research note on Monday, March 9th. Canadian Imperial Bank of Commerce upped their target price on Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. Finally, TD upped their target price on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th.

Insider Buying and Selling

In related 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 value of C$1,700,250.00. Following the completion of the transaction, the director directly owned 171,210 shares in the company, valued at approximately C$11,643,992.10. This represents a 12.74% decrease in their ownership of the stock. Insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at C$58.66 on Friday. The firm has a market capitalization of C$122.35 billion, a P/E ratio of 11.37, a PEG ratio of 0.53 and a beta of 0.24. The stock has a fifty day moving average price of C$63.31 and a 200 day moving average price of C$57.37. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99. The company has a current ratio of 0.98, a quick ratio of 0.54 and a debt-to-equity ratio of 44.85.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, May 7th. The company reported C$1.17 EPS for the quarter. The firm 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%. Equities research analysts anticipate 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.