Canadian Natural Resources (TSE:CNQ) Stock Passes Above 200-Day Moving Average – Time to Sell?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$59.73 and traded as high as C$66.62. Canadian Natural Resources shares last traded at C$65.48, with a volume of 4,065,520 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNQ. Desjardins set a C$70.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a research note on Friday, July 17th. National Bank Financial increased their price objective on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 31st. TD raised their target price on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$65.00 to C$67.00 in a research report on Thursday, May 7th. Finally, Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$67.00 to C$69.00 in a research note on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average price target of C$64.88.

Canadian Natural Resources Price Performance

The company has a 50-day moving average of C$61.58 and a two-hundred day moving average of C$59.73. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54. The stock has a market capitalization of C$136.57 billion, a PE ratio of 12.69, a P/E/G ratio of 0.53 and a beta of 0.27.

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

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.