Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$49.00 by Analysts at National Bankshares

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lowered by National Bankshares from C$51.00 to C$49.00 in a research note released on Friday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other analysts have also weighed in on the company. Royal Bank of Canada increased their price target on Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group decreased their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$68.60.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$40.74 on Friday. The stock’s fifty day moving average is C$43.77 and its 200 day moving average is C$45.83. Canadian Natural Resources has a fifty-two week low of C$37.11 and a fifty-two week high of C$56.49. The firm has a market capitalization of C$85.50 billion, a PE ratio of 11.31, a PEG ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Warren Paul Raczynski sold 7,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of C$43.70, for a total transaction of C$327,750.00. Also, Director Stephen W. Laut sold 3,180 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total value of C$139,761.00. In the last 90 days, insiders have sold 146,932 shares of company stock valued at $6,613,689. 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.