Royal Bank of Canada Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target decreased by research analysts at Royal Bank of Canada from C$63.00 to C$62.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 37.59% from the stock’s current price.

CNQ has been the subject of a number of other research reports. BMO Capital Markets decreased their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Wells Fargo & Company boosted their price objective on Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. Raymond James upped their target price on shares of Canadian Natural Resources from C$50.00 to C$51.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. National Bankshares lifted their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group upped their target price on Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$71.88.

Canadian Natural Resources Price Performance

Shares of TSE CNQ traded down C$0.39 during mid-day trading on Tuesday, hitting C$45.06. 2,715,918 shares of the stock traded hands, compared to its average volume of 7,648,554. The company has a market cap of C$95.98 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The firm has a 50 day simple moving average of C$45.99 and a two-hundred day simple moving average of C$47.23.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of Canadian Natural Resources stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$48.70, for a total transaction of C$97,405.40. Also, Senior Officer Devin Craig Lowe sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of C$46.37, for a total transaction of C$347,775.00. In the last three months, insiders have sold 56,152 shares of company stock worth $2,564,465. 4.26% of the stock is currently owned by corporate 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).