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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$49.33 and traded as high as C$68.07. Canadian Natural Resources shares last traded at C$68.00, with a volume of 20,871,935 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNQ. Raymond James Financial raised their price target on shares of Canadian Natural Resources from C$53.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. Royal Bank Of Canada raised their target price on Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Jefferies Financial Group lifted their price target on Canadian Natural Resources from C$48.00 to C$59.00 in a research note on Monday, March 16th. Finally, National Bank Financial increased their price target on Canadian Natural Resources from C$54.00 to C$59.00 and gave the stock a “sector perform” rating in a research report on Friday, March 6th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.77.

Canadian Natural Resources Price Performance

The company has a debt-to-equity ratio of 44.46, a current ratio of 0.95 and a quick ratio of 0.54. The stock has a 50 day moving average price of C$57.31 and a 200-day moving average price of C$49.33. The stock has a market capitalization of C$141.85 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 EPS for the quarter. The firm had revenue of C$9.61 billion during the quarter. Canadian Natural Resources had a return on equity of 25.98% and a net margin of 26.06%. On average, analysts forecast that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current year.

Insider Buying and Selling at Canadian Natural Resources

In related news, insider Brenda Gayle Balog sold 2,252 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the transaction, the insider directly owned 47,965 shares in the company, valued at approximately C$2,397,290.70. The trade was a 4.48% decrease in their ownership of the stock. Also, insider Erin Louise Lunn sold 2,252 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the sale, the insider directly owned 51,142 shares of the company’s stock, valued at approximately C$2,540,734.56. This represents a 4.22% decrease in their position. Over the last three months, insiders have sold 49,306 shares of company stock valued at $2,459,500. 4.26% of the stock is owned by company insiders.

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.