Canadian Natural Resources (TSE: CNQ) sets new 52-week high after analysts upgrade
Shares of Canadian Natural Resources Limited (TSE: CNQ) (NYSE: CNQ) hit a new 52-week high during trading on Tuesday after Evercore raised its share price target to $ 47.00 CA $ 52.00 CA. The company traded up to C $ 50.58 and last traded at C $ 50.21, with volume of 2,665,143 shares. The stock previously closed at C $ 49.62.
Several other equity research analysts also commented on the stock. BMO Capital Markets raised its price target for Canadian Natural Resources shares from Cdn $ 52.00 to Cdn $ 59.00 and assigned the company a ânaâ rating in a report released on Monday, June 21. JPMorgan Chase & Co. reiterated a âbuyâ rating on shares of Canadian Natural Resources in a research note on Thursday, September 16. National Bank Shares reduced its price target for Canadian Natural Resources shares from CA $ 63.00 to CA $ 61.00 and established an “outperformance” rating for the company in a research note on Friday August 6. TD Securities raised its target price for Canadian Natural Resources shares from C $ 52.00 to C $ 55.00 and rated the stock “buy” in a research note on Friday August 6. Finally, Raymond James reiterated an “outperformance” rating and set a price target of C $ 55.00 on shares of Canadian Natural Resources in a research note on Friday August 6. Three investment analysts rated the stock with a conservation rating and eleven gave the stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C $ 52.98.
In other news, senior officer Scott Gerald Stauth sold 38,000 shares of the company in a trade that took place on Monday, October 4. The shares were sold for an average price of C $ 48.11, for a total value of C $ 1,828,180.00. Following the closing of the transaction, the insider now owns 49,221 shares of the company, valued at C $ 2,368,022.31. Additionally, director David Tuer sold 12,233 shares of the company in a trade that took place on Tuesday, August 10. The shares were sold at an average price of C $ 41.64, for a total transaction of C $ 509,345.42. Following the closing of the transaction, the Director now directly owns 44,978 shares of the company, valued at approximately C $ 1,872,748.99. In the past 90 days, insiders have sold 158,405 shares of the company valued at $ 7,240,882.
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The company has a quick ratio of 0.54, a current ratio of 0.78 and a debt ratio of 58.32. The company’s fifty-day simple moving average is C $ 43.25 and its two-hundred-day simple moving average is C $ 42.07. The company has a market capitalization of 59.29 billion Canadian dollars and a price / earnings ratio of 14.54.
Canadian Natural Resources (TSE: CNQ) (NYSE: CNQ) last reported its results on Thursday, August 5. The company reported EPS of C $ 1.24 for the quarter, beating analyst consensus estimates of C $ 0.97 by C $ 0.27. The company posted sales of C $ 6.53 billion in the quarter, compared to analysts’ estimates of C $ 6.59 billion. Analysts on the seller’s side predict that Canadian Natural Resources Limited will post 5.1300001 EPS for the current fiscal year.
Canadian Natural Resources Company Profile (EST: CNQ)
Canadian Natural Resources Limited acquires, explores, 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.
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