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

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by stock analysts at Desjardins from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BayStreet.CA reports. They currently have a C$110.00 price objective on the stock, up from their previous price objective of C$104.00. Desjardins’ price target indicates a potential upside of 4.92% from the stock’s previous close.

Several other equities research analysts also recently weighed in on CNQ. BMO Capital Markets lifted their price target on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research note on Thursday, March 28th. National Bankshares boosted their price target on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the stock a “sector perform” rating in a report on Friday. Jefferies Financial Group boosted their target price on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Evercore upped their price target on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a research note on Monday, April 8th. Finally, Royal Bank of Canada upped their price target on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of C$111.00.

Canadian Natural Resources Stock Down 0.3 %

Shares of Canadian Natural Resources stock traded down C$0.33 during trading hours on Tuesday, reaching C$104.84. 1,709,600 shares of the company’s stock were exchanged, compared to its average volume of 6,302,182. Canadian Natural Resources has a fifty-two week low of C$69.83 and a fifty-two week high of C$112.99. The stock has a market cap of C$112.18 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.53 and a beta of 1.98. The company has a 50 day moving average of C$98.90 and a two-hundred day moving average of C$91.39. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, topping the consensus estimate of C$2.14 by C$0.20. The company had revenue of C$9.55 billion for the quarter, compared to analysts’ expectations of C$9.04 billion. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. On average, sell-side analysts forecast that Canadian Natural Resources will post 7.6092114 EPS for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other news, Senior Officer Warren Paul Raczynski sold 3,000 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. In other news, Senior Officer Erin Louise Lunn sold 3,664 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$35.59, for a total value of C$130,419.35. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. In the last quarter, insiders have sold 332,363 shares of company stock valued at $32,567,851. 2.20% of the stock is owned by company insiders.

About Canadian Natural Resources

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).