Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$44.00 by Analysts at Wells Fargo & Company

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price reduced by stock analysts at Wells Fargo & Company from C$50.00 to C$44.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Wells Fargo & Company's price objective would indicate a potential upside of 8.00% from the stock's current price.

Several other analysts also recently issued reports on CNQ. Jefferies Financial Group reduced their price objective on Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Gerdes Energy Research upgraded Canadian Natural Resources from a "neutral" rating to a "buy" rating in a research report on Monday, December 16th. Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. TD Securities set a C$58.00 price objective on Canadian Natural Resources and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reduced their price objective on Canadian Natural Resources from C$63.00 to C$62.00 in a research report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$68.60.

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Canadian Natural Resources Price Performance

CNQ traded up C$0.79 during trading on Friday, reaching C$40.74. 20,193,906 shares of the stock were exchanged, compared to its average volume of 9,731,315. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. Canadian Natural Resources has a 1 year low of C$37.11 and a 1 year high of C$56.49. The business's 50 day moving average price is C$43.77 and its two-hundred day moving average price is C$45.80. The company has a market capitalization of C$85.50 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.53 and a beta of 1.89.

Insider Activity

In other news, Senior Officer Warren Paul Raczynski sold 7,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of C$43.70, for a total value of C$327,750.00. Also, Director Stephen W. Laut sold 3,180 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total value of C$139,761.00. Over the last quarter, insiders sold 146,932 shares of company stock worth $6,613,689. 4.26% of the stock is currently owned by corporate insiders.

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.