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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$44.21 and traded as low as C$43.05. Canadian Natural Resources shares last traded at C$44.28, with a volume of 29,698,845 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on CNQ. Raymond James Financial lifted their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Scotiabank lifted their price objective on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Desjardins set a C$52.00 target price on shares of Canadian Natural Resources and gave the stock a “hold” rating in a report on Wednesday, December 17th. Royal Bank Of Canada set a C$62.00 target price on shares of Canadian Natural Resources and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, National Bankshares lifted their price target on shares of Canadian Natural Resources from C$45.00 to C$48.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of C$54.33.

Canadian Natural Resources Stock Down 6.0%

The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The firm has a market capitalization of C$92.24 billion, a PE ratio of 13.97, a PEG ratio of 0.53 and a beta of 0.71. The company has a fifty day moving average price of C$45.81 and a 200-day moving average price of C$44.21.

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

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.