Canadian Natural Resources (TSE:CNQ) Stock Rating Lowered by National Bankshares

Posted by on Aug 6th, 2023

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) was downgraded by National Bankshares from an “outperform” rating to a “sector perform” rating in a report released on Friday, BayStreet.CA reports. They currently have a C$90.00 price objective on the stock, down from their prior price objective of C$93.00. National Bankshares’ price objective suggests a potential upside of 10.42% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. National Bank Financial lowered their price target on shares of Canadian Natural Resources from C$105.00 to C$93.00 in a research report on Thursday, June 29th. Stifel Nicolaus decreased their target price on shares of Canadian Natural Resources from C$97.00 to C$95.00 in a report on Friday, May 5th. Desjardins decreased their target price on shares of Canadian Natural Resources from C$97.00 to C$95.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. CSFB decreased their target price on shares of Canadian Natural Resources from C$93.00 to C$90.00 in a report on Thursday, April 6th. Finally, ATB Capital decreased their target price on shares of Canadian Natural Resources from C$94.00 to C$90.00 in a report on Monday, April 17th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$89.44.

Canadian Natural Resources Trading Up 1.9 %

Shares of CNQ opened at C$81.51 on Friday. The firm’s 50-day moving average price is C$75.20 and its 200-day moving average price is C$76.82. The firm has a market capitalization of C$88.85 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 0.53 and a beta of 2.04. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 35.14. Canadian Natural Resources has a 1-year low of C$61.23 and a 1-year high of C$84.25.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 4th. The company reported C$1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.62 by C$0.07. Canadian Natural Resources had a net margin of 23.94% and a return on equity of 25.00%. The company had revenue of C$8.63 billion during the quarter, compared to analysts’ expectations of C$8.48 billion. Sell-side analysts anticipate that Canadian Natural Resources will post 6.6185567 EPS for the current year.

Insider Transactions at Canadian Natural Resources

In related news, Director Stephen W. Laut sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of C$72.78, for a total transaction of C$363,895.00. Company insiders own 2.22% of the company’s stock.

Canadian Natural Resources Company Profile

(Get Free Report)

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).

See Also

Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.