National Bankshares Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$49.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective decreased by National Bankshares from C$51.00 to C$49.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ target price indicates a potential upside of 20.27% from the company’s current price.

A number of other brokerages have also recently commented on CNQ. Wells Fargo & Company dropped their price target on shares of Canadian Natural Resources from C$50.00 to C$44.00 in a research note on Friday. BMO Capital Markets decreased their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Jefferies Financial Group decreased their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average target price of C$68.60.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$40.74 on Friday. The stock has a market capitalization of C$85.50 billion, a P/E ratio of 11.31, a PEG 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. The firm’s 50 day moving average is C$43.77 and its 200 day moving average is C$45.80. 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 Canadian Natural Resources news, Senior Officer Robin Sean Zabek sold 19,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total transaction of C$818,254.00. Also, Director Stephen W. Laut sold 3,180 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total transaction of C$139,761.00. In the last ninety days, insiders sold 146,932 shares of company stock valued at $6,613,689. Company 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.