Canadian Natural Resources (TSE:CNQ) Stock Dropped to Hold by Raymond James Financial

Raymond James Financial cut shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a moderate buy rating to a hold rating in a report released on Wednesday morning,Zacks reports.

Other equities analysts have also recently issued reports about the company. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Desjardins set a C$70.00 price objective on Canadian Natural Resources and gave the company a “hold” rating in a research report on Friday, July 17th. TD raised their price objective on Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Finally, Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$67.53.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$73.83 on Wednesday. Canadian Natural Resources has a 52-week low of C$41.67 and a 52-week high of C$74.99. The company has a debt-to-equity ratio of 36.64, a quick ratio of 0.54 and a current ratio of 1.00. The company has a market capitalization of C$152.20 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.53 and a beta of 0.38. The company has a fifty day moving average of C$68.94 and a 200-day moving average of C$64.90.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. The company had revenue of C$14.74 billion during the quarter. As a group, equities research analysts predict that Canadian Natural Resources will post 3.83 EPS for the current fiscal year.

Insider Activity at Canadian Natural Resources

In related news, Director Shelley Ann Marie Brown acquired 709 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average price of C$70.44 per share, for a total transaction of C$49,941.96. Following the completion of the acquisition, the director owned 1,780 shares in the company, valued at approximately C$125,383.20. This represents a 66.20% increase in their ownership of the stock. Corporate 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.