Canadian Natural Resources (TSE:CNQ) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of Canadian Natural Resources (TSE:CNQ - Free Report) NYSE: CNQ from a market perform rating to an outperform rating in a research note published on Wednesday, MarketBeat reports. Raymond James currently has C$49.00 price target on the stock, down from their previous price target of C$52.00.

A number of other analysts have also issued reports on CNQ. Tudor Pickering lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Gerdes Energy Research raised Canadian Natural Resources from a "neutral" rating to a "buy" rating in a research report on Monday, December 16th. Evercore ISI raised shares of Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. BMO Capital Markets dropped their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Finally, National Bankshares reduced their price objective on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a "sector perform" rating on the stock in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of "Moderate Buy" and an average price target of C$60.38.

Canadian Natural Resources Stock Up 0.7 %

Shares of CNQ stock traded up C$0.27 on Wednesday, hitting C$37.99. The stock had a trading volume of 15,326,968 shares, compared to its average volume of 13,322,354. The stock's 50 day moving average is C$41.83 and its 200-day moving average is C$44.85. The firm has a market capitalization of C$79.73 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$54.69. 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 Activity

In other news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of Canadian Natural Resources stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. Also, Senior Officer Warren Paul Raczynski sold 7,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of C$43.70, for a total transaction of C$327,750.00. Insiders have sold 128,184 shares of company stock valued at $5,690,788 over the last three months. 4.26% of the stock is owned by insiders.

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.