Canadian Natural Resources (TSE:CNQ) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$44.03 and traded as high as C$47.70. Canadian Natural Resources shares last traded at C$46.67, with a volume of 30,749,666 shares trading hands.

Analyst Ratings Changes

CNQ has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a C$62.00 price objective on Canadian Natural Resources and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Scotiabank lifted their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. TD Securities increased their price objective on Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. National Bankshares raised their price objective on shares of Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Finally, Raymond James Financial upped their target price on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average price target of C$54.70.

Canadian Natural Resources Stock Down 1.1%

The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The business’s fifty day moving average price is C$45.31 and its 200 day moving average price is C$44.03. The company has a market capitalization of C$97.22 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.53 and a beta of 0.73.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share for the quarter. The business had revenue of C$9.52 billion for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. As a group, equities research analysts predict that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insider Transactions at Canadian Natural Resources

In related news, insider Ronald Keith Laing sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the completion of the transaction, the insider owned 2,049 shares in the company, valued at C$92,553.33. This trade represents a 90.71% decrease in their position. Also, Director Stephen W. Laut sold 7,000 shares of the business’s stock in a transaction 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 directly owned 895,350 shares in the company, valued at approximately C$39,323,772. This represents a 0.78% decrease in their position. In the last ninety days, insiders sold 31,500 shares of company stock valued at $1,415,815. Corporate insiders own 4.26% of the company’s stock.

About Canadian Natural Resources

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.