Canadian Natural Resources (TSE:CNQ) Stock Price Passes Above 200-Day Moving Average - What's Next?

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$42.97 and traded as high as C$43.50. Canadian Natural Resources shares last traded at C$43.28, with a volume of 33,170,427 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Canadian Natural Resources from C$40.00 to C$42.00 in a report on Thursday, May 22nd. National Bankshares lowered their target price on Canadian Natural Resources from C$51.00 to C$49.00 and set a "sector perform" rating for the company in a report on Friday, March 7th. CIBC increased their price target on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a research report on Thursday, April 10th. Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating and cut their target price for the stock from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. Finally, Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to an "outperform" rating and set a C$56.00 price target for the company in a research report on Wednesday, March 19th. Five 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$54.25.

Canadian Natural Resources Stock Performance

The stock's 50 day moving average price is C$40.94 and its two-hundred day moving average price is C$42.98. 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 capitalization of C$93.87 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.53 and a beta of 1.89.

Insider Buying and Selling

In other news, Senior Officer Devin Craig Lowe sold 10,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of C$44.76, for a total transaction of C$447,600.00. Also, Senior Officer Calvin John Bast sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of C$41.80, for a total transaction of C$313,500.00. Over the last 90 days, insiders have sold 62,000 shares of company stock worth $2,743,505. 4.26% of the stock is owned by 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.