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

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$71.94.

CNQ has been the subject of a number of recent research reports. National Bankshares boosted their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. BMO Capital Markets lowered their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Finally, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating and raised their target price for the stock from C$56.00 to C$59.00 in a report on Tuesday, October 8th.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at C$47.27 on Friday. The firm has a 50 day simple moving average of C$46.03 and a 200 day simple moving average of C$47.25. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The firm has a market cap of C$100.69 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.53 and a beta of 1.89.

Insiders Place Their Bets

In other news, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$48.70, for a total transaction of C$97,405.40. Also, Senior Officer Troy John Peter Andersen sold 19,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of C$47.45, for a total value of C$901,607.00. In the last 90 days, insiders sold 56,152 shares of company stock worth $2,564,465. Corporate insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).