Wells Fargo & Company Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target reduced by research analysts at Wells Fargo & Company from C$50.00 to C$44.00 in a report released on Friday,BayStreet.CA reports. Wells Fargo & Company‘s target price points to a potential upside of 8.00% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. BMO Capital Markets decreased their price objective on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. TD Securities set a C$58.00 price objective on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. Jefferies Financial Group decreased their price objective on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Finally, Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$68.60.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$40.74 on Friday. The firm has a 50-day moving average price of C$43.77 and a 200-day moving average price of C$45.80. The firm has a market capitalization of C$85.50 billion, a PE ratio of 11.31, a price-to-earnings-growth 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. Canadian Natural Resources has a 12-month low of C$37.11 and a 12-month high of C$56.49.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Warren Paul Raczynski sold 7,500 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of C$43.70, for a total value of C$327,750.00. Also, Director Stephen W. Laut acquired 942 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was purchased at an average cost of C$46.46 per share, for a total transaction of C$43,765.32. Insiders have sold a total of 146,932 shares of company stock valued at $6,613,689 in the last 90 days. Insiders own 4.26% of the company’s stock.

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.