Canadian Natural Resources (TSE:CNQ) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$55.23 and traded as high as C$66.20. Canadian Natural Resources shares last traded at C$64.80, with a volume of 3,323,914 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNQ. Desjardins lifted their price target on shares of Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Raymond James Financial upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$65.00 to C$67.00 in a research note on Thursday, May 7th. TD raised their price objective on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Gerdes Energy Research cut Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus target price of C$63.73.

Canadian Natural Resources Trading Down 0.1%

The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98. The firm has a 50 day simple moving average of C$64.90 and a two-hundred day simple moving average of C$55.36. The firm has a market capitalization of C$135.03 billion, a P/E ratio of 12.55, a PEG ratio of 0.53 and a beta of 0.48.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%.The business had revenue of C$10.81 billion for the quarter. Equities research analysts forecast that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current year.

Insider Activity

In other news, Director Gordon D. Giffin sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the completion of the sale, the director directly owned 171,210 shares of the company’s stock, valued at C$11,643,992.10. This trade represents a 12.74% decrease in their position. 4.26% of the stock is currently owned by corporate insiders.

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.