Canadian Natural Resources (TSE:CNQ) Sets New 52-Week High – Here’s Why

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) reached a new 52-week high on Tuesday . The company traded as high as C$50.00 and last traded at C$49.63, with a volume of 1689010 shares. The stock had previously closed at C$49.43.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNQ shares. Raymond James Financial upped their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Evercore Partners cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating and set a C$50.00 price objective for the company. in a research report on Tuesday, January 6th. Wells Fargo & Company set a C$47.00 target price on shares of Canadian Natural Resources and gave the company an “equal weight” rating in a research report on Friday, October 17th. National Bankshares cut their target price on shares of Canadian Natural Resources from C$48.00 to C$47.00 and set a “sector perform” rating for the company in a research note on Friday, January 9th. Finally, TD Securities raised their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$53.36.

Canadian Natural Resources Stock Up 0.8%

The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The firm has a market capitalization of C$103.76 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The business has a 50-day moving average price of C$46.32 and a 200-day moving average price of C$44.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%.The company had revenue of C$9.52 billion for the quarter. Equities research analysts forecast that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, insider Trevor Wagil sold 2,469 shares of Canadian Natural Resources stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the transaction, the insider directly owned 14,779 shares of the company’s stock, valued at C$667,863.01. The trade was a 14.31% decrease in their ownership of the stock. Insiders own 4.26% of the company’s stock.

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.