National Bankshares Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price dropped by National Bankshares from C$51.00 to C$49.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. National Bankshares' price target suggests a potential upside of 19.16% from the company's current price.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Royal Bank of Canada boosted their price target on Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an "outperform" rating in a research note on Friday. TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Gerdes Energy Research upgraded Canadian Natural Resources from a "neutral" rating to a "buy" rating in a research report on Monday, December 16th. Finally, Tudor Pickering lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$68.60.

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Canadian Natural Resources Stock Performance

Shares of CNQ traded up C$0.21 during midday trading on Friday, reaching C$41.12. 2,341,283 shares of the stock were exchanged, compared to its average volume of 9,740,722. The stock's 50 day simple moving average is C$43.72 and its 200 day simple moving average is C$45.74. The company has a market cap of C$86.30 billion, a P/E ratio of 11.42, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a twelve month low of C$37.11 and a twelve month high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Robin Sean Zabek sold 19,000 shares of Canadian Natural Resources stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total transaction of C$818,254.00. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of the business's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of C$43.68, for a total value of C$98,367.36. Insiders have sold 151,436 shares of company stock worth $6,797,736 over the last quarter. 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.