Canadian Natural Resources (TSE:CNQ) Hits New 12-Month High – Still a Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$55.10 and last traded at C$55.03, with a volume of 2713755 shares traded. The stock had previously closed at C$53.03.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada cut their price objective on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Desjardins set a C$52.00 price target on shares of Canadian Natural Resources and gave the stock a “hold” rating in a report on Wednesday, December 17th. Gerdes Energy Research lowered shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday. National Bank Financial upped their price objective on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the company a “sector perform” rating in a report on Tuesday, February 3rd. Finally, TD Securities increased their price objective on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$54.40.

Canadian Natural Resources Trading Up 1.8%

The firm has a market cap of C$115.38 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The company has a 50-day simple moving average of C$47.70 and a 200 day simple moving average of C$45.43. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The firm had revenue of C$9.52 billion during the quarter. As a group, sell-side analysts forecast that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Trevor Wagil sold 2,469 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the sale, the insider directly owned 14,779 shares in the company, valued at C$667,863.01. This trade represents a 14.31% decrease in their position. 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.