Canadian Natural Resources (TSE:CNQ) Reaches New 52-Week High – Still a Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) hit a new 52-week high on Wednesday . The stock traded as high as C$55.10 and last traded at C$55.03, with a volume of 2713755 shares changing hands. The stock had previously closed at C$53.03.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNQ. National Bankshares boosted their target price on Canadian Natural Resources from C$47.00 to C$54.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company set a C$47.00 price objective on Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th. Royal Bank Of Canada decreased 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 report on Tuesday, January 13th. TD Securities upped their target price on Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Finally, Raymond James Financial lifted their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$54.40.

Canadian Natural Resources Price Performance

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 business has a fifty day simple moving average of C$47.27 and a 200 day simple moving average of C$45.21. The stock has a market capitalization of C$114.93 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70.

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 company had revenue of C$9.52 billion for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. On average, analysts expect that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current year.

Insiders Place Their Bets

In other Canadian Natural Resources news, insider Trevor Wagil sold 2,469 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the transaction, the insider directly owned 14,779 shares in the company, valued at approximately C$667,863.01. This trade represents a 14.31% decrease in their position. 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.