Canadian Natural Resources (TSE:CNQ) Hits New 12-Month High – Should You Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$67.59 and last traded at C$67.39, with a volume of 5557435 shares changing hands. The stock had previously closed at C$67.15.

Analyst Upgrades and Downgrades

CNQ has been the subject of a number of recent research reports. ATB Cormark Capital Markets boosted their price target on Canadian Natural Resources from C$56.00 to C$65.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a report on Thursday, February 12th. BMO Capital Markets lifted their price target on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Royal Bank Of Canada boosted their price objective on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Finally, Morgan Stanley reduced their price objective on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.77.

Canadian Natural Resources Trading Up 0.4%

The stock has a market capitalization of C$140.57 billion, a PE ratio of 13.06, a PEG ratio of 0.53 and a beta of 0.81. The stock’s 50 day moving average price is C$54.58 and its 200-day moving average price is C$48.34. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. The company had revenue of C$9.61 billion for the quarter. On average, sell-side analysts expect that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kyle Grayson Pisio sold 7,456 shares of Canadian Natural Resources stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of C$50.11, for a total transaction of C$373,620.16. Following the sale, the insider owned 26,089 shares of the company’s stock, valued at approximately C$1,307,319.79. This trade represents a 22.23% decrease in their position. Also, insider Erin Louise Lunn sold 2,252 shares of Canadian Natural Resources stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total value of C$111,879.36. Following the sale, the insider directly owned 51,142 shares in the company, valued at C$2,540,734.56. This trade represents a 4.22% decrease in their position. Over the last ninety days, insiders sold 51,775 shares of company stock valued at $2,571,074. 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.