Canadian Natural Resources (TSE:CNQ) Upgraded at Evercore ISI

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was upgraded by investment analysts at Evercore ISI from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other research analysts also recently commented on CNQ. Raymond James increased their price objective on shares of Canadian Natural Resources from C$51.00 to C$52.00 and gave the company a “market perform” rating in a report on Friday. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. National Bankshares reduced their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating on the stock in a research note on Friday. BMO Capital Markets lowered their target price on Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Finally, Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Trading Up 2.0 %

Canadian Natural Resources stock opened at C$40.74 on Friday. 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’s 50 day moving average price is C$43.77 and its 200-day moving average price is C$45.83. Canadian Natural Resources has a 1 year low of C$37.11 and a 1 year high of C$56.49. The stock has a market cap of C$85.50 billion, a P/E ratio of 11.31, a PEG ratio of 0.53 and a beta of 1.89.

Insider Activity

In related news, Director Stephen W. Laut bought 942 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was bought at an average cost of C$46.46 per share, for a total transaction of C$43,765.32. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total transaction of C$818,254.00. In the last quarter, insiders sold 146,932 shares of company stock worth $6,613,689. 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.