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

Key Points

• Canadian Natural Resources hit a new 52-week high, trading as high as C$67.59 (last C$67.39) on a volume of 5,557,435 shares.
• Several analysts raised price targets — notably BMO to C$70 — and MarketBeat's consensus rating is a Moderate Buy with a consensus target of C$58.77, which is below the current share price.
• Recent fundamentals show a market cap of C$140.57 billion, a P/E of 13.06, quarterly EPS of C$0.82, revenue of C$9.61 billion and a net margin of 26.06%.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ's share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$67.59 and last traded at C$67.39, with a volume of 5557435 shares traded. The stock had previously closed at C$67.15.

Analyst Ratings Changes

CNQ has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of 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. Raymond James Financial lifted their target price on shares of Canadian Natural Resources from C$53.00 to C$55.00 and gave the company an "outperform" rating in a report on Friday, March 6th. Jefferies Financial Group boosted their price target on Canadian Natural Resources from C$48.00 to C$59.00 in a research report on Monday. National Bank Financial upped their price target on Canadian Natural Resources from C$54.00 to C$59.00 and gave the stock a "sector perform" rating in a research note on Friday, March 6th. Finally, Gerdes Energy Research downgraded Canadian Natural Resources from a "buy" rating to a "neutral" rating in a report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$58.77.

Canadian Natural Resources Stock Up 0.4%

The company has a market cap of C$140.57 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.53 and a beta of 0.81. The company's 50-day moving average is C$54.58 and its two-hundred day moving average is C$48.34. The company has a debt-to-equity ratio of 44.46, a current ratio of 0.95 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 25.98% and a net margin of 26.06%.The business had revenue of C$9.61 billion for the quarter. As a group, equities analysts predict that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other news, insider Erin Louise Lunn sold 2,252 shares of the business's stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the transaction, the insider directly owned 51,142 shares of the company's stock, valued at C$2,540,734.56. The trade was a 4.22% decrease in their ownership of the stock. Also, insider Stephanie Ann Graham sold 1,930 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of C$49.19, for a total transaction of C$94,936.70. Following the transaction, the insider owned 16,367 shares in the company, valued at approximately C$805,092.73. This trade represents a 10.55% decrease in their position. Insiders sold a total of 51,775 shares of company stock valued at $2,571,074 over the last three months. 4.26% of the stock is owned by insiders.

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.

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