Canadian Natural Resources (TSE:CNQ) Raised to Strong-Buy at Evercore ISI

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was upgraded by Evercore ISI from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada raised their price objective on Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group reduced their price objective on Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, National Bankshares dropped their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$68.60.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at C$40.74 on Friday. Canadian Natural Resources has a twelve month low of C$37.11 and a twelve month high of C$56.49. The stock has a market capitalization of C$85.50 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.53 and a beta of 1.89. The stock has a fifty day simple moving average of C$43.77 and a two-hundred day simple moving average of C$45.80. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total value of C$818,254.00. Insiders sold a total of 146,932 shares of company stock valued at $6,613,689 in the last ninety days. Insiders own 4.26% of the company’s stock.

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.