Canadian Natural Resources (TSE:CNQ) Rating Increased to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a hold rating to a strong-buy rating in a report released on Friday morning,Zacks.com reports.

A number of other research firms have also weighed in on CNQ. 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 dropped their price objective on Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Raymond James increased their price objective on Canadian Natural Resources from C$51.00 to C$52.00 and gave the company a “market perform” rating in a research note on Friday. National Bankshares decreased their target price on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a report on Friday. Finally, BMO Capital Markets decreased their target price on Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$68.60.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$40.74 on Friday. The firm has a market cap of C$85.50 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a fifty-two week low of C$37.11 and a fifty-two week high of C$56.49. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The business has a 50 day moving average price of C$43.77 and a 200-day moving average price of C$45.83.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Robin Sean Zabek sold 19,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total value of C$818,254.00. Also, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of C$44.98, for a total value of C$3,643,380.00. Insiders have sold 146,932 shares of company stock valued at $6,613,689 over the last ninety days. Insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

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.