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

Key Points

• Canadian Natural Resources shares surpassed their 200-day moving average, with the stock trading as high as C$43.20 before closing at C$43.07.
• Equities research analysts have a generally positive outlook, with a consensus rating of "Moderate Buy" and a price target averaging C$54.75 despite some recent target adjustments.
• The company revealed significant insider activity, including a sale of over 299,000 shares by insiders in the past ninety days, indicating notable fluctuations in insider holdings.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ's stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$42.26 and traded as high as C$43.20. Canadian Natural Resources shares last traded at C$43.07, with a volume of 24,395,482 shares traded.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Royal Bank Of Canada dropped their target price on Canadian Natural Resources from C$64.00 to C$62.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Raymond James Financial boosted their target price on Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Scotiabank boosted their target price on Canadian Natural Resources from C$50.00 to C$54.00 in a research report on Friday, July 11th. Finally, Wells Fargo & Company boosted their target price 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and a consensus price target of C$54.75.

Canadian Natural Resources Stock Down 2.0%

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 stock has a market capitalization of C$88.48 billion, a PE ratio of 11.71, a PEG ratio of 0.53 and a beta of 1.89. The company has a 50 day moving average price of C$43.05 and a 200-day moving average price of C$42.23.

Insider Activity

In other news, Senior Officer Scott Gerald Stauth sold 55,000 shares of the business's stock in a transaction that occurred on Thursday, June 19th. The stock was sold at an average price of C$46.22, for a total transaction of C$2,542,100.00. Also, Senior Officer Devin Craig Lowe sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of C$44.76, for a total value of C$895,200.00. In the last ninety days, insiders sold 299,676 shares of company stock valued at $13,450,829. 4.26% of the stock is 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.