Raymond James Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$52.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target hoisted by equities research analysts at Raymond James from C$51.00 to C$52.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective indicates a potential upside of 27.45% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. National Bankshares decreased their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a report on Friday. TD Securities set a C$58.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada upped their price target on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$68.60.

Canadian Natural Resources Stock Up 2.1 %

Shares of Canadian Natural Resources stock traded up C$0.85 on Friday, reaching C$40.80. 4,300,082 shares of the company were exchanged, compared to its average volume of 9,381,774. 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 stock’s 50 day moving average price is C$43.82 and its 200-day moving average price is C$45.89. The company has a market cap of C$85.62 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 1-year low of C$37.11 and a 1-year high of C$56.49.

Insider Transactions at Canadian Natural Resources

In related news, Director Stephen W. Laut sold 3,180 shares of Canadian Natural Resources stock in a transaction 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 Mark Allen Stainthorpe sold 81,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total value of C$3,643,380.00. Insiders have sold a total of 146,932 shares of company stock valued at $6,613,689 in the last ninety days. 4.26% of the stock is currently 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.