Canadian Natural Resources (TSE:CNQ) Given New C$90.00 Price Target at CSFB

Posted by Defense World Staff on Apr 8th, 2023

Canadian Natural Resources (TSE:CNQ – Get Rating) (NYSE:CNQ) had its price target cut by stock analysts at CSFB from C$93.00 to C$90.00 in a research note issued on Thursday, BayStreet.CA reports. CSFB’s price objective points to a potential upside of 14.03% from the stock’s current price.

Several other brokerages have also recently issued reports on CNQ. Stifel Nicolaus set a C$97.00 target price on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Friday, January 13th. Stifel Firstegy restated a “buy” rating on shares of Canadian Natural Resources in a report on Thursday, January 12th. Raymond James decreased their price target on shares of Canadian Natural Resources from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research note on Monday, January 16th. National Bankshares decreased their price target on shares of Canadian Natural Resources from C$105.00 to C$100.00 and set an “outperform” rating for the company in a research note on Friday, March 3rd. Finally, Morgan Stanley decreased their price target on shares of Canadian Natural Resources from C$90.00 to C$87.00 in a research note on Monday, March 27th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$91.07.

Canadian Natural Resources Trading Down 0.5 %

Shares of Canadian Natural Resources stock opened at C$78.93 on Thursday. The company has a fifty day simple moving average of C$76.67 and a 200-day simple moving average of C$76.41. Canadian Natural Resources has a 12-month low of C$58.75 and a 12-month high of C$88.18. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 34.01. The stock has a market cap of C$86.82 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.53 and a beta of 2.02.

Insiders Place Their Bets

In other Canadian Natural Resources news, Director Stephen W. Laut sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of C$74.90, for a total transaction of C$374,512.50. Following the completion of the transaction, the director now owns 1,522,710 shares in the company, valued at approximately C$114,054,785.78. In other news, Senior Officer Troy John Peter Andersen sold 20,000 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of C$81.74, for a total value of C$1,634,892.00. Also, Director Stephen W. Laut sold 5,000 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of C$74.90, for a total transaction of C$374,512.50. Following the completion of the transaction, the director now owns 1,522,710 shares of the company’s stock, valued at approximately C$114,054,785.78. In the last quarter, insiders sold 279,000 shares of company stock worth $22,625,878. 2.21% of the stock is owned by insiders.

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.