Canadian Natural Resources (TSE:CNQ) Hits New 12-Month High – What’s Next?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) hit a new 52-week high during trading on Friday . The company traded as high as C$60.07 and last traded at C$59.50, with a volume of 2213596 shares trading hands. The stock had previously closed at C$58.95.

Wall Street Analyst Weigh In

CNQ has been the topic of a number of research reports. Desjardins set a C$52.00 price objective on Canadian Natural Resources and gave the company a “hold” rating in a research note on Wednesday, December 17th. Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. TD Securities boosted their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Raymond James Financial upped their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Finally, Morgan Stanley reduced their price objective on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$54.40.

Canadian Natural Resources Trading Up 1.2%

The firm’s 50 day moving average is C$50.23 and its 200 day moving average is C$46.49. 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 company has a market cap of C$124.30 billion, a PE ratio of 18.82, a PEG ratio of 0.53 and a beta of 0.70.

Insider Buying and Selling

In related news, insider Erin Louise Lunn sold 2,252 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the transaction, the insider directly owned 51,142 shares in the company, valued at C$2,540,734.56. The trade was a 4.22% decrease in their ownership of the stock. Also, insider Stephanie Ann Graham sold 1,930 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of C$49.19, for a total value of C$94,936.70. Following the completion of the sale, the insider directly owned 16,367 shares in the company, valued at approximately C$805,092.73. The trade was a 10.55% decrease in their position. Insiders have sold a total of 51,775 shares of company stock valued at $2,571,074 in the last ninety days. 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.