Wells Fargo & Company Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$44.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective reduced by Wells Fargo & Company from C$50.00 to C$44.00 in a research note published on Friday morning,BayStreet.CA reports.

Several other research analysts also recently issued reports on CNQ. BMO Capital Markets cut their price target on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Royal Bank of Canada cut their target price on shares of Canadian Natural Resources from C$63.00 to C$62.00 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group cut 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. Six equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Stock Up 2.0 %

CNQ stock opened at C$40.74 on Friday. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a market cap of C$85.50 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a fifty day moving average price of C$43.77 and a 200 day moving average price of C$45.77. Canadian Natural Resources has a 12 month low of C$37.11 and a 12 month high of C$56.49.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of C$46.37, for a total value of C$347,775.00. Also, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the firm’s 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 value of C$3,643,380.00. In the last 90 days, insiders have sold 146,932 shares of company stock valued at $6,613,689. Insiders own 4.26% of the company’s stock.

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.