Canadian Natural Resources (TSE:CNQ) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$44.03 and traded as high as C$47.70. Canadian Natural Resources shares last traded at C$46.67, with a volume of 30,749,666 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNQ. TD Securities upped their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Wells Fargo & Company set a C$47.00 target price on Canadian Natural Resources and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Scotiabank lifted their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Royal Bank Of Canada set a C$62.00 price objective on Canadian Natural Resources and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating and set a C$52.00 target price on the stock. in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$54.70.

Canadian Natural Resources Price Performance

The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The stock has a market capitalization of C$97.22 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.53 and a beta of 0.73. The stock’s 50 day simple moving average is C$45.31 and its 200-day simple moving average is C$44.03.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The business had revenue of C$9.52 billion for the quarter. On average, analysts expect that Canadian Natural Resources Limited will post 3.833989 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brenda Gayle Balog sold 4,500 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the transaction, the insider owned 47,965 shares of the company’s stock, valued at approximately C$2,184,805.75. This represents a 8.58% decrease in their position. Also, Director Stephen W. Laut sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total value of C$307,440.00. Following the completion of the transaction, the director directly owned 895,350 shares in the company, valued at C$39,323,772. The trade was a 0.78% decrease in their ownership of the stock. Insiders sold 31,500 shares of company stock valued at $1,415,815 over the last quarter. Insiders own 4.26% of the company’s stock.

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.