Canadian Natural Resources (TSE:CNQ) Downgraded to Hold at Scotiabank

Canadian Natural Resources (TSE:CNQGet Rating) (NYSE:CNQ) was downgraded by equities researchers at Scotiabank to a “hold” rating in a note issued to investors on Wednesday, TipRanks reports. They currently have a C$91.00 price target on the stock. Scotiabank’s price target would suggest a potential upside of 5.78% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company raised their price target on Canadian Natural Resources from C$79.00 to C$84.00 and gave the stock a “na” rating in a research note on Friday, May 6th. National Bankshares reduced their price objective on Canadian Natural Resources from C$100.00 to C$90.00 in a report on Thursday, April 14th. CIBC raised their price objective on Canadian Natural Resources from C$80.00 to C$90.00 in a report on Thursday, April 14th. Raymond James set a C$87.00 price objective on Canadian Natural Resources and gave the stock an “outperform” rating in a report on Friday, May 6th. Finally, CSFB raised their price objective on Canadian Natural Resources from C$85.00 to C$93.00 in a report on Monday, May 9th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$77.77.

Shares of TSE:CNQ traded up C$0.05 during trading on Wednesday, hitting C$86.03. The company had a trading volume of 1,019,565 shares, compared to its average volume of 5,746,057. Canadian Natural Resources has a one year low of C$37.82 and a one year high of C$88.18. The company has a debt-to-equity ratio of 40.17, a current ratio of 0.75 and a quick ratio of 0.54. The stock has a market cap of C$99.31 billion and a price-to-earnings ratio of 10.86. The company has a fifty day simple moving average of C$81.07 and a two-hundred day simple moving average of C$69.60.

Canadian Natural Resources (TSE:CNQGet Rating) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 5th. The company reported C$2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.45 by C$0.41. The business had revenue of C$10.68 billion for the quarter, compared to the consensus estimate of C$8.95 billion. On average, equities research analysts anticipate that Canadian Natural Resources will post 9.0799994 earnings per share for the current year.

In other news, Senior Officer Trevor James Cassidy sold 9,500 shares of the business’s stock in a transaction dated Monday, May 30th. The stock was sold at an average price of C$86.68, for a total value of C$823,460.00. Following the completion of the transaction, the insider now owns 34,806 shares of the company’s stock, valued at approximately C$3,016,984.08. Also, Senior Officer Corey B. Bieber sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of C$73.90, for a total value of C$147,800.00. In the last ninety days, insiders have sold 279,697 shares of company stock valued at $22,826,081.

Canadian Natural Resources Company Profile (Get Rating)

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

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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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