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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$44.38 and traded as high as C$48.24. Canadian Natural Resources shares last traded at C$47.62, with a volume of 8,813,290 shares.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Evercore ISI cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Royal Bank Of Canada reduced their price objective on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. National Bankshares decreased their target price on Canadian Natural Resources from C$48.00 to C$47.00 and set a “sector perform” rating on the stock in a report on Friday, January 9th. Desjardins set a C$52.00 price target on Canadian Natural Resources and gave the company a “hold” rating in a report on Wednesday, December 17th. Finally, Scotiabank upped their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$53.70.

Canadian Natural Resources Price Performance

The firm has a 50 day moving average of C$46.07 and a 200-day moving average of C$44.38. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The company has a market cap of C$99.20 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.53 and a beta of 0.71.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. The business 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%. On average, equities research analysts predict that Canadian Natural Resources Limited will post 3.833989 EPS for the current year.

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.