Royal Bank of Canada Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective dropped by equities researchers at Royal Bank of Canada from C$63.00 to C$62.00 in a report released on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 37.35% from the company’s current price.

A number of other research analysts also recently issued reports on CNQ. Jefferies Financial Group upped their target price on shares of Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. National Bankshares increased their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. Raymond James increased their price target on Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Finally, TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average price target of C$71.88.

Canadian Natural Resources Trading Down 0.3 %

CNQ stock opened at C$45.14 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49. The company has a market cap of C$96.15 billion, a P/E ratio of 12.86, a PEG ratio of 0.53 and a beta of 1.89. The business has a fifty day moving average of C$45.94 and a 200-day moving average of C$47.22.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of C$46.37, for a total value of C$347,775.00. Also, Director Stephen W. Laut purchased 942 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average cost of C$46.46 per share, with a total value of C$43,765.32. Insiders sold 137,152 shares of company stock valued at $6,207,845 over the last quarter. 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).