Canadian Natural Resources (TSE:CNQ) Raised to Outperform at Scotiabank

Scotiabank upgraded shares of Canadian Natural Resources (TSE:CNQ - Free Report) NYSE: CNQ from a sector perform rating to an outperform rating in a research report released on Wednesday,BayStreet.CA reports. They currently have C$56.00 target price on the stock.

CNQ has been the subject of a number of other research reports. Jefferies Financial Group dropped their price target on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of Canadian Natural Resources from C$50.00 to C$44.00 in a research report on Friday, March 7th. 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. Royal Bank of Canada boosted their price objective on Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an "outperform" rating in a report on Friday, March 7th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$68.53.

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Canadian Natural Resources Stock Down 1.5 %

Shares of TSE CNQ traded down C$0.66 during midday trading on Wednesday, reaching C$43.47. 18,388,817 shares of the company's stock were exchanged, compared to its average volume of 12,325,493. 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 52-week low of C$37.11 and a 52-week high of C$56.49. The business's fifty day moving average price is C$43.12 and its two-hundred day moving average price is C$45.33. The stock has a market capitalization of C$91.23 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Calvin John Bast sold 7,500 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of C$41.80, for a total value of C$313,500.00. Also, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total value of C$3,643,380.00. In the last three months, insiders sold 165,936 shares of company stock valued at $7,409,291. Company insiders own 4.26% of the company's stock.

Canadian Natural Resources Company Profile

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.