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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$54.22 and traded as high as C$66.09. Canadian Natural Resources shares last traded at C$66.08, with a volume of 6,014,641 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNQ. TD Securities boosted their price target on Canadian Natural Resources from C$51.00 to C$64.00 and gave the company a “buy” rating in a report on Friday, March 6th. Jefferies Financial Group increased their price objective on Canadian Natural Resources from C$48.00 to C$59.00 in a report on Monday, March 16th. Desjardins lifted their target price on Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Morgan Stanley cut their target price on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Finally, TD upped their price target on Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$63.73.

Canadian Natural Resources Price Performance

The company has a current ratio of 0.98, a quick ratio of 0.54 and a debt-to-equity ratio of 44.85. The company has a market capitalization of C$137.90 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.53 and a beta of 0.48. The company has a 50 day moving average price of C$64.53 and a 200 day moving average price of C$54.22.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%.The business had revenue of C$10.81 billion for the quarter. On average, equities analysts predict that Canadian Natural Resources Limited will post 3.833989 EPS for the current fiscal year.

Insider Activity

In other news, Director Gordon D. Giffin sold 25,000 shares of the firm’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 in the company, valued at approximately C$11,643,992.10. This trade represents a 12.74% decrease in their position. Corporate insiders own 4.26% of the company’s stock.

About Canadian Natural Resources

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.