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

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

A number of other equities analysts have also commented on CNQ. TD Securities set a C$58.00 price target on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada decreased their target price on shares of Canadian Natural Resources from C$63.00 to C$62.00 in a report on Tuesday, January 14th. BMO Capital Markets decreased their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Price Performance

TSE:CNQ opened at C$40.74 on Friday. Canadian Natural Resources has a 52 week low of C$37.11 and a 52 week high of C$56.49. The firm has a market cap 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. The firm’s 50-day simple moving average is C$43.77 and its 200 day simple moving average is C$45.83. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Stephen W. Laut sold 3,180 shares of the business’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 transaction of C$139,761.00. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total transaction of C$818,254.00. Insiders have sold a total of 146,932 shares of company stock worth $6,613,689 in the last ninety days. Company 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.