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Canadian Natural Resources Limited (TSE: CNQ) Receives Consensus “Buy” From Brokerages

MarketBeat Ratings reported that Canadian Natural Resources Limited (TSE: CNQ) (NYSE: CNQ) stocks received an average rating of “Buy” from 23 research firms covering the company. One analyst has given the stock a hold rating and nine have given the company a buy rating. The average 12-month target price among brokers who released a report on the stock last year is $ 38.67.

Several research companies recently published reports on CNQ. The Goldman Sachs Group repeated its “neutral” rating and issued a research note on Monday, January 25th, with a price target of CAD 28.00 for shares of Canadian Natural Resources. JPMorgan Chase & Co. lowered its target price on shares of Canadian Natural Resources from C $ 44.00 to C $ 41.00 in a research report on Thursday, January 14th. National Bank Financial raised its target price on shares of Canadian Natural Resources from C $ 41.00 to C $ 50.00 and rated the stock as “Outperform” in a research report on Friday, February 19. On Monday, January 25th, ATB Capital adjusted an “Outperform” rating in a research note and published a price target of CAD 39.50 for shares of Canadian Natural Resources. Finally, Credit Suisse Group raised its target price for Canadian natural resources from C $ 42.00 to C $ 52.00 and rated the share as “Outperform” in a report on Tuesday.

In other news, director Stephen W. Laut bought 1,350 shares in the company in a transaction that occurred on Tuesday, Jan. 5. The shares were acquired at an average price of $ 32.40 per share for a total value of $ 43,740.95. Following the acquisition, the director now holds 2,365,112 shares in the company valued at approximately $ 76,631,284.38. In addition, Senior Officer William Robert Peterson sold 22,500 shares in a transaction that occurred on Thursday, January 7th. The stock was sold at an average price of $ 34.25 for a total transaction of $ 770,557.50. Upon completion of the sale, the Insider now holds 105,640 shares in the company valued at $ 3,617,853.08. Insiders have sold a total of 244,000 shares in the company in the past three months, valued at $ 8,132,661.

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Canadian Natural Resources shares opened on Friday at a price of $ 40.20. The company has a market capitalization of $ 47.66 billion and a PER of -108.65. The stock has a 50-day simple moving average of $ 34.02 and a 200-day simple moving average of $ 28.67. Canadian Natural Resources has a 12-month low of $ 9.80 and a 12-month high of $ 41.05. The company has a current rate of 0.86, a quick rate of 0.59, and a leverage ratio of 71.47.

About Canadian Natural Resources

Canadian Natural Resources Limited researches, develops, manufactures, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude (SCO), light and medium crude, bitumen (thermal oil), primary heavy crude, and heavy crude from Pelican Lake. Midstream assets include two crude oil pipeline systems; and a 50% stake in an 84 megawatt cogeneration power plant in Primrose.

Further reading: Analyst Ratings Trading

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