Canadian Natural Resources (TSE:CNQ) Stock Crosses Above 200-Day Moving Average – Here’s Why

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$55.88 and traded as high as C$65.46. Canadian Natural Resources shares last traded at C$65.40, with a volume of 15,704,197 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Gerdes Energy Research cut shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. National Bank Financial lifted their price target 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 report on Tuesday, March 31st. BMO Capital Markets lifted their price target on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. TD lifted their price target on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Desjardins lifted their price target on shares of Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$63.73.

Canadian Natural Resources Stock Up 2.8%

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 stock has a market cap of C$136.41 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 0.53 and a beta of 0.48. The business’s fifty day moving average is C$64.54 and its two-hundred day moving average is C$55.88.

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. The firm had revenue of C$10.81 billion during the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. Equities analysts forecast that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Natural Resources

In related news, Director Gordon D. Giffin sold 25,000 shares of Canadian Natural Resources stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the completion of the transaction, the director owned 171,210 shares in the company, valued at approximately C$11,643,992.10. The trade was a 12.74% decrease in their ownership of the stock. Company 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.