Raymond James Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$52.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by investment analysts at Raymond James from C$51.00 to C$52.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ target price would suggest a potential upside of 27.64% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Jefferies Financial Group lowered their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research note on Friday. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$68.60.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$40.74 on Friday. 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 debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The company’s fifty day moving average price is C$43.77 and its 200 day moving average price is C$45.80. The stock has a market capitalization of C$85.50 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.53 and a beta of 1.89.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Robin Sean Zabek sold 19,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total transaction of C$818,254.00. Also, Director Stephen W. Laut purchased 942 shares of the business’s stock in a transaction on Monday, January 6th. The shares were acquired at an average price of C$46.46 per share, for a total transaction of C$43,765.32. In the last ninety days, insiders have sold 146,932 shares of company stock worth $6,613,689. 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.