Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$49.00 by Analysts at Jefferies Financial Group

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective reduced by investment analysts at Jefferies Financial Group from C$52.00 to C$49.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 11.85% from the stock’s current price.

A number of other brokerages have also recently weighed in on CNQ. Scotiabank reduced their target price on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating for the company in a report on Tuesday, June 11th. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. TD Securities boosted their target price on Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Raymond James decreased their price target on Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Finally, Royal Bank of Canada lifted their price target on Canadian Natural Resources from C$60.00 to C$62.00 in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$90.50.

Canadian Natural Resources Price Performance

TSE CNQ traded up C$0.41 on Monday, reaching C$43.81. 8,598,236 shares of the stock traded hands, compared to its average volume of 12,008,905. Canadian Natural Resources has a 12 month low of C$40.02 and a 12 month high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The firm’s fifty day simple moving average is C$47.91 and its 200 day simple moving average is C$76.62. The company has a market cap of C$93.32 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The business had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. As a group, research analysts predict that Canadian Natural Resources will post 4.2311277 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$48.43, for a total transaction of C$181,612.50. 4.24% of the stock is 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).