Canadian Natural Resources (TSE:CNQ) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$42.91 and traded as high as C$46.60. Canadian Natural Resources shares last traded at C$46.43, with a volume of 33,843,679 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CNQ shares. 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 note on Tuesday, April 15th. Royal Bank Of Canada boosted their target price on Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. CIBC boosted their target price on Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Evercore ISI upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company boosted their target price on Canadian Natural Resources from C$40.00 to C$42.00 in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$54.25.

Canadian Natural Resources Trading Up 2.6%

The firm has a fifty day simple moving average of C$41.73 and a two-hundred day simple moving average of C$42.91. 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 firm has a market capitalization of C$97.44 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89.

Insider Transactions at Canadian Natural Resources

In related news, Senior Officer Robin Sean Zabek sold 20,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of C$44.90, for a total value of C$898,000.00. Also, Senior Officer Jay Ellery Froc sold 12,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of C$45.49, for a total value of C$545,880.00. Insiders sold 101,504 shares of company stock valued at $4,557,797 over the last three months. Company insiders own 4.26% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.