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

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

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Canadian Natural Resources from C$50.00 to C$44.00 in a report on Friday, March 7th. TD Securities set a C$58.00 target price on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. BMO Capital Markets reduced their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Evercore ISI upgraded shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ opened at C$44.69 on Thursday. The company’s fifty day moving average price is C$43.07 and its 200-day moving average price is C$45.27. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The firm has a market capitalization of C$93.79 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a one year low of C$37.11 and a one year high of C$56.49.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Troy John Peter Andersen sold 19,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of C$47.45, for a total transaction of C$901,607.00. Also, Senior Officer Calvin John Bast sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of C$44.75, for a total transaction of C$447,500.00. In the last 90 days, insiders have sold 156,936 shares of company stock worth $7,038,537. Company 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.