Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$62.00 by Analysts at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective dropped by equities research analysts at Royal Bank of Canada from C$63.00 to C$62.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 37.35% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. TD Securities set a C$58.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a report on Tuesday, December 3rd. CIBC upped their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Desjardins raised Canadian Natural Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their target price on Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th. Finally, BMO Capital Markets dropped their price target on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$71.88.

Canadian Natural Resources Stock Down 0.3 %

CNQ stock opened at C$45.14 on Tuesday. The company has a market cap of C$96.15 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49. The business has a 50 day moving average price of C$45.94 and a two-hundred day moving average price of C$47.22. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. Also, Senior Officer Scott Gerald Stauth purchased 27,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average price of C$46.52 per share, for a total transaction of C$1,256,121.00. Insiders sold 137,152 shares of company stock valued at $6,207,845 in the last quarter. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).