Canadian Natural Resources (TSE:CNQ) Price Target Lowered to C$23.00 at Raymond James

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target reduced by Raymond James from C$26.00 to C$23.00 in a research note released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on CNQ. JPMorgan Chase & Co. reduced their target price on Canadian Natural Resources from C$32.00 to C$27.00 in a report on Monday. Evercore ISI downgraded Canadian Natural Resources from an outperform rating to an in-line rating and reduced their target price for the company from C$47.00 to C$30.00 in a report on Monday, March 16th. Evercore downgraded Canadian Natural Resources from an outperform rating to an in-line rating and reduced their target price for the company from C$47.00 to C$30.00 in a report on Monday, March 16th. Morgan Stanley downgraded Canadian Natural Resources from an overweight rating to an equal weight rating and reduced their target price for the company from C$52.00 to C$24.00 in a report on Monday, March 16th. Finally, Wells Fargo & Co reduced their target price on Canadian Natural Resources from C$34.00 to C$14.00 in a report on Friday, March 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of C$35.50.

TSE CNQ traded up C$0.38 during trading on Wednesday, reaching C$14.65. 10,808,126 shares of the company’s stock were exchanged, compared to its average volume of 6,951,437. The stock has a market cap of $14.35 billion and a P/E ratio of 3.23. The company has a debt-to-equity ratio of 65.13, a quick ratio of 0.47 and a current ratio of 0.68. The company has a 50 day moving average price of C$29.69 and a two-hundred day moving average price of C$35.40. Canadian Natural Resources has a 1 year low of C$9.80 and a 1 year high of C$42.57.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, March 5th. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.59 by C($0.13). The business had revenue of C$5.90 billion during the quarter, compared to the consensus estimate of C$5.97 billion. Research analysts forecast that Canadian Natural Resources will post 2.1300002 EPS for the current fiscal year.

In related news, Senior Officer William Robert Peterson sold 30,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of C$41.97, for a total value of C$1,259,100.00. Following the transaction, the insider now owns 83,098 shares in the company, valued at approximately C$3,487,623.06. Also, Senior Officer Timothy Shawn Mckay sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of C$42.07, for a total value of C$1,051,667.50. Following the completion of the transaction, the insider now owns 1,167,469 shares in the company, valued at approximately C$49,111,568.18. Insiders sold a total of 80,000 shares of company stock worth $3,336,682 in the last 90 days.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Read More: Most Active Stocks

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.