Canadian Natural Resources (TSE:CNQ) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$43.83 and traded as high as C$47.98. Canadian Natural Resources shares last traded at C$47.67, with a volume of 29,637,914 shares.

Analysts Set New Price Targets

CNQ has been the subject of several recent research reports. TD Securities increased their price target on Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. Scotiabank upped their target price on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Raymond James Financial lifted their price target on Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a C$52.00 price target on the stock. in a research report on Monday, November 24th. Finally, Wells Fargo & Company set a C$47.00 price objective on shares of Canadian Natural Resources and gave the stock an “equal weight” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$54.70.

Canadian Natural Resources Stock Up 0.8%

The business has a 50-day moving average of C$45.03 and a 200-day moving average of C$43.83. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The stock has a market capitalization of C$99.30 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.53 and a beta of 0.67.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The company had revenue of C$9.52 billion for the quarter. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 3.833989 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephen W. Laut sold 7,000 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total value of C$307,440.00. Following the completion of the sale, the director owned 895,350 shares in the company, valued at approximately C$39,323,772. This trade represents a 0.78% decrease in their position. Also, insider Brenda Gayle Balog sold 4,500 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the transaction, the insider owned 47,965 shares in the company, valued at C$2,184,805.75. This trade represents a 8.58% decrease in their ownership of the stock. In the last quarter, insiders sold 31,500 shares of company stock valued at $1,415,815. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.