Canadian Natural Resources Limited (TSE:CNQ) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$71.44.

A number of equities analysts recently weighed in on the stock. TD Securities set a C$58.00 price objective on shares of Canadian Natural Resources and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Jefferies Financial Group decreased their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Wells Fargo & Company boosted their target price on Canadian Natural Resources from C$48.00 to C$50.00 in a research report on Monday, December 9th. Royal Bank of Canada decreased their target price on Canadian Natural Resources from C$63.00 to C$62.00 in a research report on Tuesday, January 14th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at C$40.85 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm has a market capitalization of C$85.73 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.53 and a beta of 1.89. The business has a fifty day simple moving average of C$44.15 and a two-hundred day simple moving average of C$46.14. Canadian Natural Resources has a 12 month low of C$39.92 and a 12 month high of C$56.49.

Insiders Place Their Bets

In related news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. Also, Director Stephen W. Laut sold 3,180 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total transaction of C$139,761.00. Insiders sold a total of 146,932 shares of company stock worth $6,613,689 over the last three months. 4.26% of the stock is currently owned by company insiders.

Canadian Natural Resources Company Profile

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.