Canadian Natural Resources (TSE:CNQ) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ's stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Desjardins reduced their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada upped their price objective 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. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. National Bankshares reduced their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. Finally, Evercore ISI upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$54.25.

Canadian Natural Resources Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm has a market cap of C$96.54 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The stock has a 50 day simple moving average of C$42.22 and a 200-day simple moving average of C$42.89.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Mark Anthony Overwater sold 8,260 shares of the stock in a transaction dated Thursday, June 19th. The shares were sold at an average price of C$46.44, for a total transaction of C$383,594.40. Also, Senior Officer Calvin John Bast sold 10,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of C$44.75, for a total transaction of C$447,500.00. In the last quarter, insiders sold 209,764 shares of company stock worth $9,538,191. Corporate 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.