The Royal Bank of Canada reaffirms its “Outperform” Rating for Canadian Natural Resources (TSE: CNQ)
Canadian Natural Resources (TSE: CNQ) (NYSE: CNQ)The stock’s rating was confirmed by equity researchers at Royal Bank of Canada in a report released on Wednesday, Stock Target Advisor reports. You currently have a target price of $ 43.00 on the stock. The Royal Bank of Canada’s price target would represent a potential 10.23% gain over the company’s previous close.
Several other brokers have also recently commented on CNQ. CIBC raised its target price on Canadian natural resources from C $ 31.00 to C $ 42.00 in a research report on Wednesday, December 16. The Goldman Sachs Group issued a “neutral” rating in a research note on Monday, January 25, with a price target of CAD 28.00 on shares of Canadian Natural Resources. National Bank Financial raised its target price for Canadian natural resources from C $ 41.00 to C $ 50.00 and rated the company as “Outperform” in a research note on Friday, February 19. The UBS Group raised its target price for Canadian natural resources from C $ 30.00 to C $ 43.00 in a report on Thursday, January 7th. Finally, in a report on Monday, January 25th, ATB Capital adjusted an “outperform” rating and set a price target of $ 39.50 on shares in Canadian Natural Resources. Three research analysts for stocks have given the stock a hold rating and eight a buy rating. Canadian Natural Resources currently has an average “Buy” rating and an average price target of $ 38.61.
CNQ shares traded at $ 0.40 at noon on Wednesday and hit $ 39.01. The share had a trading volume of 295,379 shares compared to an average volume of 7,052,895 shares. The company has a 50-day simple moving average of $ 37.72 and a 200-day simple moving average of $ 30.39. The company has a market capitalization of $ 46.28 billion and a PER of -105.68. The company has a current rate of 0.86, a quick rate of 0.59, and a leverage ratio of 71.47. Canadian Natural Resources has a fifty-two week low of $ 16.55 and a fifty-two week high of $ 41.05.
This stock could be a big hit story in 2021.
Canadian Natural Resources (TSE: CNQ) (NYSE: CNQ) last released its quarterly results on Thursday, March 4th. The company reported earnings per share for the quarter of $ 0.05, missing the Thomson Reuters consensus estimate of $ 0.06 by $ 0.01. The company had revenue of $ 5.02 billion for the quarter, compared to analyst estimates of $ 4.88 billion. On average, analysts expect Canadian Natural Resources to achieve earnings per share of 3.05 for the current fiscal year.
In Other Canadian Natural Resource News, Director Stephen W. Laut sold 5,000 shares in a transaction that occurred on Monday, March 15. The stock was sold at an average price of $ 40.36 for a total transaction of $ 201,800. Following the transaction, the director now holds 2,275,112 shares in the company valued at $ 91,823,520.32. In addition, Senior Officer William Robert Peterson sold 22,500 shares in the company in a transaction 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. In the past 90 days, insiders have sold 108,375 shares in the company valued at $ 4,053,514.
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.
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7 outdoor recovery stocks for growth and dividends
If Americans used to enjoy outdoor activities, now they love them even more. The COVID-19 pandemic did many things, and one of them is enlivening Americans’ love for the outdoors. Data from across the industry shows a sustained surge in sales that is propelling the entire complex up.
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Check out the “7 Outdoor Recovery Stocks For Growth And Dividends”.