Canadian Natural Resources (TSE:CNQ) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$49.33 and traded as high as C$68.07. Canadian Natural Resources shares last traded at C$68.00, with a volume of 20,871,935 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CNQ shares. BMO Capital Markets increased their price target on 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. Gerdes Energy Research lowered Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. National Bank Financial increased their target price on Canadian Natural Resources from C$54.00 to C$59.00 and gave the stock a “sector perform” rating in a research report on Friday, March 6th. TD Securities lifted their target price on Canadian Natural Resources from C$51.00 to C$64.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Finally, Royal Bank Of Canada boosted their price target on Canadian Natural Resources from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and an average price target of C$58.77.

Canadian Natural Resources Stock Up 2.9%

The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46. The company has a market capitalization of C$144.89 billion, a PE ratio of 13.46, a PEG ratio of 0.53 and a beta of 0.81. The company’s 50 day moving average is C$57.71 and its two-hundred day moving average is C$49.45.

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

Insider Buying and Selling

In other Canadian Natural Resources news, insider Trevor Wagil sold 14,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the completion of the transaction, the insider owned 14,779 shares in the company, valued at C$738,358.84. This trade represents a 49.52% decrease in their position. Also, insider Brenda Gayle Balog sold 2,252 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total value of C$112,554.96. Following the completion of the sale, the insider directly owned 47,965 shares in the company, valued at approximately C$2,397,290.70. The trade was a 4.48% decrease in their position. Insiders sold 74,306 shares of company stock valued at $4,159,750 in the last ninety days. Company 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.