Canadian Natural Resources (TSE:CNQ) Stock Price Passes Above Two Hundred 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 Monday . The stock has a two hundred 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.

Analysts Set New Price Targets

CNQ has been the topic of a number of recent analyst reports. CIBC raised their target price on Canadian Natural Resources from C$59.00 to C$62.00 in a report on Thursday, April 10th. Desjardins cut their price target on Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. National Bankshares cut their price target on Canadian Natural Resources from C$51.00 to C$49.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating and cut their price target for the company from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Finally, Wells Fargo & Company boosted their price target on Canadian Natural Resources from C$40.00 to C$42.00 in a report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$54.25.

Canadian Natural Resources Trading Up 1.8%

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 business has a 50-day moving average of C$41.20 and a 200-day moving average of C$42.97. The firm has a market cap of C$96.33 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.53 and a beta of 1.89.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Jay Ellery Froc sold 4,500 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of C$42.89, for a total transaction of C$193,005.00. Also, Senior Officer Calvin John Bast sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of C$44.75, for a total value of C$447,500.00. Insiders have sold a total of 86,004 shares of company stock valued at $3,852,802 over the last 90 days. 4.26% of the stock is currently 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.