Canadian Natural Resources (TSE:CNQ) Given New C$40.00 Price Target at Wells Fargo & Company

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target trimmed by Wells Fargo & Company from C$44.00 to C$40.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued reports about the stock. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada raised their price objective on Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group reduced their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Finally, Evercore ISI raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$60.15.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down C$2.81 during trading on Wednesday, hitting C$36.45. 2,877,231 shares of the stock traded hands, compared to its average volume of 13,085,909. The firm’s fifty day moving average is C$42.11 and its 200-day moving average is C$44.96. The stock has a market cap of C$76.49 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$56.42. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79.

Insider Buying and Selling

In other news, Senior Officer Scott Gerald Stauth acquired 27,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average price of C$46.52 per share, with a total value of C$1,256,121.00. Also, Director Stephen W. Laut sold 3,180 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total transaction of C$139,761.00. In the last three months, insiders bought 29,380 shares of company stock worth $1,351,509 and sold 147,184 shares worth $6,592,395. 4.26% of the stock is owned by company 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.