Canadian Natural Resources (TSE:CNQ) Earns Outperform Rating from Raymond James

Raymond James reissued their outperform rating on shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a research note published on Wednesday, PriceTargets.com reports. Raymond James currently has a C$63.00 price target on the stock.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Canadian Natural Resources from an overweight rating to a hold rating and raised their price objective for the company from C$62.00 to C$66.00 in a report on Thursday, December 9th. CIBC raised their target price on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the company a na rating in a research note on Friday, October 15th. TD Securities raised their target price on shares of Canadian Natural Resources from C$58.00 to C$61.00 and gave the company a buy rating in a research note on Friday, November 5th. CSFB raised their target price on shares of Canadian Natural Resources from C$59.00 to C$63.00 in a research note on Thursday, January 6th. Finally, Morgan Stanley began coverage on shares of Canadian Natural Resources in a research note on Thursday, October 7th. They issued a hold rating and a C$53.00 target price for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of Buy and an average target price of C$63.38.

Shares of TSE CNQ opened at C$65.18 on Wednesday. The stock has a market capitalization of C$76.71 billion and a price-to-earnings ratio of 13.16. The business has a 50-day moving average of C$53.86 and a 200-day moving average of C$47.99. The company has a debt-to-equity ratio of 51.74, a current ratio of 0.91 and a quick ratio of 0.67. Canadian Natural Resources has a fifty-two week low of C$28.67 and a fifty-two week high of C$65.51.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, November 4th. The company reported C$1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.51 by C$0.26. The company had revenue of C$7.71 billion during the quarter, compared to the consensus estimate of C$7.91 billion. On average, sell-side analysts expect that Canadian Natural Resources will post 6.42 EPS for the current year.

In other news, Senior Officer William Robert Peterson sold 18,000 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of C$53.00, for a total value of C$953,911.80. Following the completion of the sale, the insider now directly owns 107,683 shares in the company, valued at C$5,706,671.35. Also, Senior Officer Timothy Shawn Mckay sold 50,000 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of C$54.13, for a total transaction of C$2,706,270.00. Following the completion of the sale, the insider now owns 1,175,938 shares of the company’s stock, valued at C$63,648,114.63. Over the last quarter, insiders sold 330,329 shares of company stock valued at $18,144,966.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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