Canadian Natural Resources (TSE:CNQ) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$56.76 and traded as high as C$64.04. Canadian Natural Resources shares last traded at C$63.59, with a volume of 16,981,917 shares trading hands.

Analyst Ratings Changes

CNQ has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. increased their price target on shares of Canadian Natural Resources from C$48.00 to C$70.00 in a research note on Tuesday, April 7th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and upped their price objective for the stock from C$65.00 to C$67.00 in a report on Thursday, May 7th. National Bank Financial upped their price objective on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 31st. Finally, Scotiabank increased their price target on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$63.73.

Canadian Natural Resources Stock Up 1.9%

The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85. The company’s fifty day moving average is C$64.08 and its 200-day moving average is C$56.76. The company has a market cap of C$132.63 billion, a PE ratio of 12.32, a PEG ratio of 0.53 and a beta of 0.24.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. The company had revenue of C$10.81 billion for the quarter. On average, analysts predict that Canadian Natural Resources Limited will post 3.833989 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gordon D. Giffin sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the sale, the director directly owned 171,210 shares in the company, valued at C$11,643,992.10. This trade represents a 12.74% decrease in their position. 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.