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

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$68.53.

A number of research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Canadian Natural Resources from C$50.00 to C$44.00 in a research note on Friday, March 7th. TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a C$56.00 target price on the stock in a report on Wednesday, March 19th. Raymond James lifted their price target on shares of Canadian Natural Resources from C$51.00 to C$52.00 and gave the company a “market perform” rating in a research report on Friday, March 7th. Finally, Royal Bank of Canada upped their price objective on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th.

Canadian Natural Resources Stock Up 0.5 %

Shares of TSE CNQ opened at C$44.69 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The firm has a market cap of C$93.79 billion, a PE ratio of 12.41, a P/E/G ratio of 0.53 and a beta of 1.89. The company’s fifty day simple moving average is C$43.07 and its 200 day simple moving average is C$45.27. Canadian Natural Resources has a 12-month low of C$37.11 and a 12-month high of C$56.49.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Troy John Peter Andersen sold 19,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of C$47.45, for a total value of C$901,607.00. Also, Senior Officer Calvin John Bast sold 7,500 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of C$41.80, for a total transaction of C$313,500.00. Insiders sold a total of 156,936 shares of company stock valued at $7,038,537 over the last three months. 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.