Royal Bank of Canada Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$63.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lifted by stock analysts at Royal Bank of Canada from C$62.00 to C$63.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 54.64% from the stock’s current price.

Several other brokerages have also issued reports on CNQ. BMO Capital Markets reduced their price target on Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company dropped their price target on Canadian Natural Resources from C$50.00 to C$44.00 in a research report on Friday. Jefferies Financial Group dropped their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Finally, TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Trading Up 2.0 %

Shares of TSE CNQ opened at C$40.74 on Friday. Canadian Natural Resources has a one year low of C$37.11 and a one year high of C$56.49. The firm has a market capitalization of C$85.50 billion, a PE ratio of 11.31, a PEG ratio of 0.53 and a beta of 1.89. 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 business has a 50-day moving average price of C$43.77 and a two-hundred day moving average price of C$45.80.

Insider Transactions at Canadian Natural Resources

In related news, Director Stephen W. Laut sold 3,180 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total value of C$139,761.00. Also, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total value of C$3,643,380.00. Insiders sold a total of 146,932 shares of company stock worth $6,613,689 over the last 90 days. 4.26% of the stock is owned by insiders.

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.