Canadian Natural Resources Limited (TSE:CNQ – Get Free Report) (NYSE:CNQ)’s stock price passed above its 200-day moving average during trading on Wednesday following insider buying activity. The stock has a 200-day moving average of C$42.85 and traded as high as C$43.31. Canadian Natural Resources shares last traded at C$43.04, with a volume of 13,130,414 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CNQ. Wells Fargo & Company upped their target price on shares of Canadian Natural Resources from C$40.00 to C$42.00 in a research note on Thursday, May 22nd. Royal Bank Of Canada increased their price objective on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to an “outperform” rating and set a C$56.00 price objective for the company in a research note on Wednesday, March 19th. National Bankshares dropped their price objective on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Finally, Desjardins dropped their price objective on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$54.25.
View Our Latest Stock Analysis on CNQ
Canadian Natural Resources Stock Down 0.5%
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.
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