Canadian Natural Resources (TSE:CNQ) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$64.58 and traded as high as C$68.32. Canadian Natural Resources shares last traded at C$67.12, with a volume of 10,742,552 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CNQ shares. JPMorgan Chase & Co. lifted their price target on Canadian Natural Resources from C$67.00 to C$75.00 in a report on Wednesday, August 12th. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Scotia increased their price target on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Finally, Raymond James Financial raised their price target on shares of Canadian Natural Resources from C$66.00 to C$70.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of C$67.12.

Canadian Natural Resources Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. The stock has a market capitalization of C$138.47 billion, a P/E ratio of 11.95, a PEG ratio of 0.53 and a beta of 0.32. The company has a fifty day simple moving average of C$67.67 and a two-hundred day simple moving average of C$64.63.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. The company had revenue of C$14.74 billion during the quarter. Sell-side analysts expect that Canadian Natural Resources Limited will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling at Canadian Natural Resources

In related news, Director Shelley Ann Marie Brown purchased 709 shares of Canadian Natural Resources stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of C$70.44 per share, for a total transaction of C$49,941.96. Following the transaction, the director directly owned 1,780 shares of the company’s stock, valued at approximately C$125,383.20. This trade represents a 66.20% increase in their ownership of the stock. 4.26% of the stock is currently owned by company 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.