Canadian Natural Resources (TSE:CNQ) Given New C$58.00 Price Target at BMO Capital Markets

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target decreased by equities research analysts at BMO Capital Markets from C$60.00 to C$58.00 in a report released on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 30.22% from the company’s previous close.

Several other research analysts have also recently weighed in on CNQ. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday. ATB Capital lifted their target price on shares of Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. CIBC lifted their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and an average price target of C$71.94.

Canadian Natural Resources Trading Up 0.2 %

CNQ stock traded up C$0.08 during trading on Friday, hitting C$44.54. The company had a trading volume of 7,896,725 shares, compared to its average volume of 11,832,240. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The firm has a 50-day moving average price of C$47.90 and a 200-day moving average price of C$52.93. Canadian Natural Resources has a 12 month low of C$40.02 and a 12 month high of C$56.49. The stock has a market cap of C$94.87 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.53 and a beta of 1.89.

Insider Activity

In related news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. Insiders sold 16,422 shares of company stock valued at $785,328 in the last quarter. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).