National Bankshares Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price reduced by investment analysts at National Bankshares from C$51.00 to C$49.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 20.27% from the company’s previous close.

A number of other research analysts have also recently issued reports on CNQ. Royal Bank of Canada lifted their price objective on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company cut their target price on shares of Canadian Natural Resources from C$50.00 to C$44.00 in a research report on Friday. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group cut their price target on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Stock Up 2.0 %

Shares of CNQ opened at C$40.74 on Friday. The firm’s 50 day moving average is C$43.77 and its 200-day moving average is C$45.80. The stock has a market capitalization of C$85.50 billion, a PE ratio of 11.31, a P/E/G 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 Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Director Stephen W. Laut bought 942 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was bought at an average cost of C$46.46 per share, with a total value of C$43,765.32. Also, Senior Officer Warren Paul Raczynski sold 7,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of C$43.70, for a total transaction of C$327,750.00. Over the last ninety days, insiders sold 146,932 shares of company stock valued at $6,613,689. Corporate 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.