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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price hit a new 52-week high on Friday . The company traded as high as C$60.07 and last traded at C$59.50, with a volume of 2213596 shares traded. The stock had previously closed at C$58.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CNQ shares. TD Securities upped their target price on Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Royal Bank Of Canada lowered their target price on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Raymond James Financial lifted their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective for the company. in a research note on Tuesday, January 6th. Finally, Gerdes Energy Research cut shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Hold” and a consensus target price of C$54.40.

Canadian Natural Resources Trading Up 1.2%

The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a market cap of C$124.22 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The business’s fifty day moving average price is C$49.92 and its 200 day moving average price is C$46.33.

Insider Buying and Selling

In other news, insider Trevor Wagil sold 14,500 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total value of C$724,420.00. Following the sale, the insider directly owned 14,779 shares of the company’s stock, valued at approximately C$738,358.84. This represents a 49.52% decrease in their position. Also, insider Kyle Grayson Pisio sold 7,456 shares of the stock in a transaction 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 ownership of the stock. Insiders sold 51,775 shares of company stock valued at $2,571,074 over the last 90 days. 4.26% of the stock is currently 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.