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Canadian Natural Resources (TSE:CNQ) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Canadian Natural Resources logo with Energy background

Key Points

  • Canadian Natural Resources Limited shares have recently crossed above the 200-day moving average, signaling a potential bullish trend as they traded above C$44.00.
  • Analyst ratings show a mix of upgrades and adjustments, with Scotiabank raising its price target to C$54.00, while others show varying target adjustments reflecting differing market outlooks.
  • Insider selling activity was noted, with Senior Officer Scott Gerald Stauth selling 55,000 shares, raising concerns about insider sentiment in the company.
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Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ's share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$42.54 and traded as high as C$44.11. Canadian Natural Resources shares last traded at C$43.12, with a volume of 8,908,087 shares changing hands.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent research reports. Raymond James Financial increased their price target on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an "outperform" rating in a research report on Friday. Scotiabank boosted their target price on shares of Canadian Natural Resources from C$50.00 to C$54.00 in a report on Friday, July 11th. Royal Bank Of Canada dropped their price target on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an "outperform" rating for the company in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Canadian Natural Resources from C$42.00 to C$46.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, Desjardins lowered their price target on shares of 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. Four 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$54.75.

Get Our Latest Analysis on CNQ

Canadian Natural Resources Stock Performance

The company's fifty day moving average price is C$43.55 and its two-hundred day moving average price is C$42.44. The firm has a market capitalization of C$86.90 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Insider Buying and Selling at Canadian Natural Resources

In other news, Director Stephen W. Laut purchased 1,006 shares of Canadian Natural Resources stock in a transaction dated Wednesday, July 2nd. The stock was acquired at an average cost of C$43.47 per share, for a total transaction of C$43,730.82. Also, Senior Officer Troy John Peter Andersen sold 60,000 shares of Canadian Natural Resources stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of C$43.87, for a total value of C$2,632,410.00. In the last three months, insiders have sold 309,676 shares of company stock valued at $13,897,529. Corporate insiders own 4.26% of the company's stock.

Canadian Natural Resources Company Profile

(Get Free Report)

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.

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