Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price objective upped by equities researchers at Royal Bank of Canada from C$62.00 to C$63.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 54.41% from the company's previous close.

Several other analysts have also issued reports on CNQ. BMO Capital Markets dropped their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Wells Fargo & Company lowered their price objective on Canadian Natural Resources from C$50.00 to C$44.00 in a report on Friday. Jefferies Financial Group reduced their target price on Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Gerdes Energy Research raised Canadian Natural Resources from a "neutral" rating to a "buy" rating in a research note on Monday, December 16th. Finally, TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$68.60.

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Canadian Natural Resources Price Performance

Shares of TSE:CNQ traded up C$0.85 during midday trading on Friday, reaching C$40.80. 4,300,082 shares of the company's stock traded hands, compared to its average volume of 9,381,774. The company has a fifty day simple moving average of C$43.82 and a two-hundred day simple moving average of C$45.89. Canadian Natural Resources has a 1 year low of C$37.11 and a 1 year high of C$56.49. The company has a market cap of C$85.62 billion, a P/E ratio of 11.33, a PEG ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insider Buying and Selling

In other news, Senior Officer Victor Clinton Darel sold 2,252 shares of the company's stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of C$43.68, for a total value of C$98,367.36. Also, Director Stephen W. Laut acquired 942 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average cost of C$46.46 per share, with a total value of C$43,765.32. Over the last three months, insiders sold 146,932 shares of company stock worth $6,613,689. 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.

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