Canadian Natural Resources (TSE:CNQ) Reaches New 1-Year High After Insider Buying Activity

Canadian Natural Resources Limited (TSE:CNQGet Free Report) (NYSE:CNQ)’s share price reached a new 52-week high during mid-day trading on Thursday following insider buying activity. The stock traded as high as C$93.05 and last traded at C$93.03, with a volume of 2249562 shares. The stock had previously closed at C$89.71.

Specifically, Senior Officer Erin Louise Lunn sold 2,360 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of C$87.14, for a total transaction of C$205,650.40. In other Canadian Natural Resources news, Senior Officer Erin Louise Lunn sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of C$87.14, for a total transaction of C$205,650.40. Also, Senior Officer Kyle Grayson Pisio sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of C$83.02, for a total value of C$207,550.00. Over the last 90 days, insiders have sold 15,378 shares of company stock valued at $1,285,340. 2.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CNQ shares. Stifel Nicolaus raised their price objective on Canadian Natural Resources from C$97.00 to C$99.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Evercore lifted their price target on Canadian Natural Resources from C$88.00 to C$90.00 and gave the company an “in-line” rating in a report on Friday, August 4th. CIBC boosted their target price on Canadian Natural Resources from C$93.00 to C$95.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. National Bank Financial boosted their price objective on Canadian Natural Resources from C$90.00 to C$101.00 in a report on Thursday, October 12th. Finally, UBS Group set a C$90.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$93.89.

Read Our Latest Stock Analysis on CNQ

Canadian Natural Resources Stock Performance

The firm has a market capitalization of C$101.69 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.53 and a beta of 1.97. The firm has a 50 day moving average price of C$87.61 and a 200-day moving average price of C$80.80. The company has a debt-to-equity ratio of 35.40, a current ratio of 0.69 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last posted its earnings results on Thursday, August 3rd. The company reported C$1.14 EPS for the quarter, missing the consensus estimate of C$1.16 by C($0.02). The business had revenue of C$7.89 billion during the quarter, compared to analysts’ expectations of C$7.19 billion. Canadian Natural Resources had a net margin of 20.72% and a return on equity of 19.48%. As a group, sell-side analysts expect that Canadian Natural Resources Limited will post 8.2569832 earnings per share for the current fiscal year.

Canadian Natural Resources Company Profile

(Get Free Report)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

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