Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$56.00 at Raymond James Financial

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective upped by research analysts at Raymond James Financial from C$55.00 to C$56.00 in a research report issued on Monday,BayStreet.CA reports. Raymond James Financial’s price objective points to a potential upside of 25.93% from the stock’s current price.

Other analysts have also issued reports about the stock. TD Securities increased their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday. Royal Bank Of Canada cut their price objective on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. National Bankshares lifted their price target on Canadian Natural Resources from C$45.00 to C$48.00 and gave the company a “sector perform” rating in a research report on Friday. Wells Fargo & Company set a C$47.00 target price on Canadian Natural Resources and gave the company an “equal weight” rating in a report on Friday, October 17th. Finally, Scotiabank raised their target price on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$54.40.

Canadian Natural Resources Stock Up 0.2%

CNQ stock traded up C$0.07 during midday trading on Monday, reaching C$44.47. 2,430,111 shares of the company were exchanged, compared to its average volume of 14,403,603. The stock’s 50-day simple moving average is C$44.04 and its 200 day simple moving average is C$43.22. The company has a market cap of C$92.52 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$48.92.

Insider Activity

In other Canadian Natural Resources news, Director Stephen W. Laut sold 7,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$43.92, for a total value of C$307,440.00. Following the completion of the transaction, the director directly owned 895,350 shares of the company’s stock, valued at approximately C$39,323,772. The trade was a 0.78% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the sale, the insider owned 2,049 shares in the company, valued at approximately C$92,553.33. The trade was a 90.71% decrease in their ownership of the stock. Insiders sold 31,500 shares of company stock valued at $1,415,815 in the last quarter. Company 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.