Canadian Natural Resources (TSE:CNQ) Shares Cross Above 200-Day Moving Average on Insider Selling

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ passed above its two hundred day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a two hundred day moving average of C$42.79 and traded as high as C$44.00. Canadian Natural Resources shares last traded at C$43.57, with a volume of 9,697,014 shares.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research reports. Scotiabank raised their price objective on Canadian Natural Resources from C$50.00 to C$54.00 in a research report on Friday, July 11th. Wells Fargo & Company raised their price objective on Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. 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 report on Wednesday, April 9th. CIBC raised their price objective on Canadian Natural Resources from C$59.00 to C$62.00 in a research report on Thursday, April 10th. Finally, 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 report on Tuesday, April 15th. Five equities research 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$54.42.

Canadian Natural Resources Price Performance

The stock has a fifty day moving average of C$43.54 and a two-hundred day moving average of C$42.79. The stock has a market capitalization of C$89.44 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

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.