Canadian Natural Resources (TSE:CNQ) Rating Lowered to Hold at Desjardins

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by equities researchers at Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, BayStreet.CA reports. They presently have a C$110.00 price target on the stock, up from their previous price target of C$104.00. Desjardins’ target price would suggest a potential upside of 4.33% from the stock’s previous close.

Several other brokerages have also weighed in on CNQ. Evercore increased their price objective on Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Jefferies Financial Group increased their price objective on Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a “hold” rating in a report on Friday, April 12th. ATB Capital increased their target price on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. CIBC increased their target price on Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, TD Securities increased their target price on Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of C$111.00.

Canadian Natural Resources Stock Performance

CNQ stock opened at C$105.43 on Tuesday. The firm has a market cap of C$112.81 billion, a PE ratio of 14.11, a P/E/G ratio of 0.53 and a beta of 1.98. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01. The business has a 50 day moving average of C$99.87 and a 200-day moving average of C$91.64. Canadian Natural Resources has a 12-month low of C$69.83 and a 12-month high of C$112.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, beating the consensus estimate of C$2.14 by C$0.20. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. The business had revenue of C$9.55 billion during the quarter, compared to analyst estimates of C$9.04 billion. As a group, sell-side analysts expect that Canadian Natural Resources will post 7.6092114 earnings per share for the current year.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Stephen W. Laut acquired 414 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were bought at an average price of C$105.70 per share, for a total transaction of C$43,760.71. In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. Also, Director Stephen W. Laut purchased 414 shares of the stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average price of C$105.70 per share, for a total transaction of C$43,760.71. Over the last quarter, insiders have sold 332,363 shares of company stock worth $32,567,851. Corporate insiders own 2.20% 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).