Canadian Natural Resources (TSE:CNQ) Upgraded at Scotiabank

Scotiabank upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a sector perform rating to an outperform rating in a research report report published on Wednesday,BayStreet.CA reports. The brokerage currently has C$56.00 price target on the stock.

A number of other brokerages have also weighed in on CNQ. BMO Capital Markets cut their price objective on Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. TD Securities set a C$58.00 target price on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Raymond James upped their target price on Canadian Natural Resources from C$51.00 to C$52.00 and gave the stock a “market perform” rating in a research note on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company lowered their target price on Canadian Natural Resources from C$50.00 to C$44.00 in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$68.53.

Canadian Natural Resources Stock Down 1.5 %

Shares of CNQ stock opened at C$43.47 on Wednesday. The stock’s 50-day simple moving average is C$43.12 and its 200-day simple moving average is C$45.35. 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 firm has a market capitalization of C$91.23 billion, a PE ratio of 12.07, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a fifty-two week low of C$37.11 and a fifty-two week high of C$56.49.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 7,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of C$43.70, for a total transaction of C$327,750.00. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total value of C$818,254.00. Over the last 90 days, insiders sold 165,936 shares of company stock valued at $7,409,291. 4.26% of the stock is currently 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.