Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lifted by Royal Bank of Canada from C$62.00 to C$63.00 in a research report report published on Friday morning,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on CNQ. BMO Capital Markets lowered their price objective on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group cut their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company 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 opened at C$40.74 on Friday. 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 has a market cap of C$85.50 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company’s 50 day simple moving average is C$43.77 and its 200-day simple moving average is C$45.77. Canadian Natural Resources has a 12-month low of C$37.11 and a 12-month high of C$56.49.

Insiders Place Their Bets

In related news, Director Stephen W. Laut sold 3,180 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total transaction of C$139,761.00. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of C$43.68, for a total value of C$98,367.36. Insiders sold a total of 146,932 shares of company stock worth $6,613,689 in the last 90 days. 4.26% of the stock is owned by company 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.