Canadian Natural Resources (TSE:CNQ) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$55.88 and traded as high as C$65.46. Canadian Natural Resources shares last traded at C$65.40, with a volume of 15,704,197 shares trading hands.

Analyst Ratings Changes

CNQ has been the subject of several recent analyst reports. National Bank Financial raised their target price on shares of 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. Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. ATB Cormark Capital Markets lifted their price objective on shares of Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, BMO Capital Markets lifted their price objective 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. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$63.73.

Canadian Natural Resources Stock Up 1.5%

The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54. The business’s fifty day simple moving average is C$64.49 and its two-hundred day simple moving average is C$56.17. The company has a market cap of C$138.41 billion, a PE ratio of 12.86, a PEG ratio of 0.53 and a beta of 0.24.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released 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 company had revenue of C$10.81 billion during the quarter. On average, analysts predict that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current year.

Insider Activity at Canadian Natural Resources

In other news, Director Gordon D. Giffin sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were 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 owned 171,210 shares of the company’s stock, valued at C$11,643,992.10. The trade was a 12.74% decrease in their ownership of the stock. 4.26% of the stock is owned by corporate insiders.

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.