Desjardins Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$49.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price trimmed by Desjardins from C$51.00 to C$49.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating and decreased their price target for the company from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Jefferies Financial Group dropped their price objective 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 increased their price target on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Finally, Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a C$56.00 price objective for the company in a report on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus price target of C$59.62.

Canadian Natural Resources Stock Performance

Shares of TSE CNQ opened at C$39.88 on Tuesday. The stock has a market cap of C$83.69 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$53.46. The company has a 50 day simple moving average of C$41.42 and a two-hundred day simple moving average of C$44.67. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of C$44.91, for a total value of C$336,795.00. Also, Director Stephen W. Laut sold 3,180 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total value of C$139,761.00. Insiders have sold a total of 47,184 shares of company stock valued at $2,047,408 in the last 90 days. 4.26% of the stock is owned by insiders.

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.