Canadian Natural Resources (TSE:CNQ) Upgraded by Evercore ISI to “Strong-Buy” Rating

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

A number of other brokerages have also recently commented on CNQ. National Bankshares cut their price target on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research note on Friday. Raymond James increased their price target on shares of 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. TD Securities set a C$58.00 price target on shares of Canadian Natural Resources and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Finally, Jefferies Financial Group cut their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$68.60.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$40.74 on Friday. The stock has a market cap of C$85.50 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a fifty day moving average price of C$43.77 and a two-hundred day moving average price of C$45.77. Canadian Natural Resources has a one year low of C$37.11 and a one year high of C$56.49.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Stephen W. Laut sold 3,180 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of C$43.95, for a total value of C$139,761.00. Also, Senior Officer Troy John Peter Andersen sold 19,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of C$47.45, for a total transaction of C$901,607.00. Over the last three months, insiders have sold 146,932 shares of company stock valued at $6,613,689. 4.26% of the stock is owned by company insiders.

About Canadian Natural Resources

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.