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

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$57.36 and traded as high as C$59.50. Canadian Natural Resources shares last traded at C$57.95, with a volume of 27,840,988 shares traded.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on Canadian Natural Resources from C$48.00 to C$59.00 in a research report on Monday, March 16th. TD lifted their target price 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. Royal Bank Of Canada boosted their target price on Canadian Natural Resources from C$65.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. National Bank Financial upped their price target on Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 31st. Finally, TD Securities raised their price target on Canadian Natural Resources from C$51.00 to C$64.00 and gave the company a “buy” rating in a report on Friday, March 6th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$63.73.

Canadian Natural Resources Stock Performance

The firm’s 50-day moving average price is C$63.31 and its 200 day moving average price is C$57.37. 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 company has a market cap of C$122.35 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.53 and a beta of 0.24.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced 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 net margin of 24.51% and a return on equity of 22.74%. The business had revenue of C$10.81 billion for the quarter. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 3.833989 EPS for the current year.

Insider Activity at Canadian Natural Resources

In other news, Director Gordon D. Giffin sold 25,000 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the transaction, the director owned 171,210 shares of the company’s stock, valued at C$11,643,992.10. This represents a 12.74% decrease 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.