Canadian Natural Resources (TSE:CNQ) Reaches New 12-Month High – Time to Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price reached a new 52-week high during trading on Friday. The stock traded as high as C$78.34 and last traded at C$78.31, with a volume of 1,884,925 shares traded. The stock had previously closed at C$77.05.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNQ. ATB Cormark Capital Markets upped their price objective on Canadian Natural Resources from C$70.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Desjardins lifted their target price on Canadian Natural Resources from C$73.00 to C$74.00 and gave the company a “hold” rating in a report on Tuesday, October 20th. Royal Bank Of Canada boosted their target price on Canadian Natural Resources from C$79.00 to C$86.00 in a research note on Tuesday, October 13th. Scotia boosted their target price on Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Finally, National Bank Financial upped their price target on Canadian Natural Resources from C$84.00 to C$86.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 20th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$70.00.

Canadian Natural Resources Stock Up 1.8%

The business’s 50 day moving average is C$71.18 and its 200-day moving average is C$63.70. The company has a debt-to-equity ratio of 36.64, a current ratio of 1.00 and a quick ratio of 0.54. The company has a market cap of C$161.66 billion, a PE ratio of 13.95, a P/E/G ratio of 0.53 and a beta of 0.38.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. The company had revenue of C$14.74 billion for the quarter. As a group, analysts predict that Canadian Natural Resources Limited will post 3.83 EPS for the current year.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown bought 709 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of C$70.44 per share, with a total value of C$49,941.96. Following the completion of the acquisition, the director directly owned 1,780 shares of the company’s stock, valued at C$125,383.20. This represents a 66.20% increase in their position. 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.