Canadian Natural Resources Limited (TSE:CNQ) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$68.53.

A number of analysts have recently issued reports on CNQ shares. Raymond James raised 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 report on Friday, March 7th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of Canadian Natural Resources from C$50.00 to C$44.00 in a report on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th.

Canadian Natural Resources Stock Up 0.5 %

CNQ stock opened at C$45.06 on Thursday. The business’s 50 day moving average price is C$42.96 and its two-hundred day moving average price is C$45.24. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The company has a market capitalization of C$94.56 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a fifty-two week low of C$37.11 and a fifty-two week high of C$56.49.

Insider Activity

In related news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of Canadian Natural Resources stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of C$44.98, for a total value of C$3,643,380.00. Also, Senior Officer Calvin John Bast sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of C$44.75, for a total value of C$447,500.00. Insiders sold 154,684 shares of company stock worth $6,940,170 over the last three months. 4.26% of the stock is currently owned by corporate 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.