Canadian Natural Resources (TSE:CNQ) Shares Pass Above Two Hundred Day Moving Average on Insider Selling

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) passed above its two hundred day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a two hundred day moving average of C$42.79 and traded as high as C$44.00. Canadian Natural Resources shares last traded at C$43.57, with a volume of 9,697,014 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNQ. Wells Fargo & Company lifted their target price on Canadian Natural Resources from C$42.00 to C$46.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. CIBC lifted their target price on Canadian Natural Resources from C$59.00 to C$62.00 in a research report on Thursday, April 10th. Desjardins cut their target price on Canadian Natural Resources from C$51.00 to C$49.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating and cut their target price for the company from C$52.00 to C$49.00 in a research report on Wednesday, April 9th. Finally, Scotiabank lifted their target price on Canadian Natural Resources from C$50.00 to C$54.00 in a research report on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$54.42.

Canadian Natural Resources Trading Down 1.4%

The firm has a fifty day simple moving average of C$43.49 and a two-hundred day simple moving average of C$42.80. The stock has a market cap of C$90.18 billion, a PE ratio of 11.93, a PEG ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

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.