Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$70.00
by Michael Walen · The Markets DailyCanadian Natural Resources (TSE:CNQ – Free Report) (NYSE:CNQ) had its target price increased by JPMorgan Chase & Co. from C$48.00 to C$70.00 in a report published on Tuesday,BayStreet.CA reports.
CNQ has been the topic of a number of other reports. ATB Cormark Capital Markets raised their price target on Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Canadian Imperial Bank of Commerce raised their price target on Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. Morgan Stanley decreased their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. National Bank Financial raised their price target on Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 31st. Finally, BMO Capital Markets lifted their price objective on Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$63.00.
Check Out Our Latest Research Report on CNQ
Canadian Natural Resources Stock Down 1.5%
Shares of TSE:CNQ opened at C$63.14 on Tuesday. The stock’s 50-day moving average price is C$61.19 and its two-hundred day moving average price is C$51.04. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 44.46. Canadian Natural Resources has a 12-month low of C$36.03 and a 12-month high of C$70.99. The firm has a market cap of C$131.76 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.53 and a beta of 0.40.
Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 25.98% and a net margin of 26.06%.The firm had revenue of C$9.61 billion for the quarter. On average, research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.
Insiders Place Their Bets
In other news, insider Erin Louise Lunn sold 2,252 shares of Canadian Natural Resources stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total value of C$111,879.36. Following the transaction, the insider directly owned 51,142 shares of the company’s stock, valued at C$2,540,734.56. The trade was a 4.22% decrease in their position. Also, Director Gordon D. Giffin sold 25,000 shares of Canadian Natural Resources stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the completion of the transaction, the director directly owned 171,210 shares in the company, valued at C$11,643,992.10. This represents a 12.74% decrease in their ownership of the stock. Over the last ninety days, insiders sold 74,306 shares of company stock worth $4,159,750. 4.26% of the stock is owned by 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.