Canadian Natural Resources (TSE:CNQ) Hits New 1-Year High – Time to Buy?

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$66.28 and last traded at C$66.02, with a volume of 11203761 shares traded. The stock had previously closed at C$64.18.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley cut their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Scotiabank upped their price objective on Canadian Natural Resources from C$58.00 to C$62.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Raymond James Financial increased their target price on Canadian Natural Resources from C$53.00 to C$55.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Royal Bank Of Canada boosted their price target on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, Desjardins upped their price target on shares of Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of C$58.75.

Canadian Natural Resources Stock Performance

The company has a debt-to-equity ratio of 44.46, a current ratio of 0.95 and a quick ratio of 0.54. The business has a 50-day simple moving average of C$52.87 and a 200-day simple moving average of C$47.64. The firm has a market capitalization of C$137.72 billion, a PE ratio of 12.79, a P/E/G ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, March 5th. The company reported C$0.82 EPS for the quarter. Canadian Natural Resources had a return on equity of 25.98% and a net margin of 26.06%. Equities research analysts expect that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Trevor Wagil sold 14,500 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total value of C$724,420.00. Following the sale, the insider owned 14,779 shares of the company’s stock, valued at approximately C$738,358.84. This represents a 49.52% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$49.83, for a total transaction of C$996,600.00. Following the completion of the sale, the insider owned 2,049 shares of the company’s stock, valued at C$102,101.67. This trade represents a 90.71% decrease in their position. Insiders sold 51,775 shares of company stock valued at $2,571,074 over the last 90 days. 4.26% of the stock is currently 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.