Canadian Natural Resources (TSE:CNQ) Reaches New 12-Month High – Time to Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$49.06 and last traded at C$48.98, with a volume of 1963125 shares trading hands. The stock had previously closed at C$47.79.

Analyst Ratings Changes

CNQ has been the subject of a number of research reports. Raymond James Financial increased their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. National Bankshares upped their target price on shares of Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. TD Securities upped their target price on Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. Royal Bank Of Canada decreased their price target on 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, August 8th. Finally, Scotiabank increased their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$54.40.

Canadian Natural Resources Trading Up 1.0%

The company has a 50 day moving average of C$44.57 and a 200-day moving average of C$43.54. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The stock has a market cap of C$100.59 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, November 6th. The company reported C$0.29 earnings per share (EPS) for the quarter. The business had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. On average, research analysts anticipate that Canadian Natural Resources Limited will post 3.833989 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Stephen W. Laut sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total transaction of C$307,440.00. Following the transaction, the director owned 895,350 shares of the company’s stock, valued at approximately C$39,323,772. This represents a 0.78% decrease in their ownership of the stock. Also, insider Brenda Gayle Balog sold 4,500 shares of Canadian Natural Resources stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of C$45.55, for a total value of C$204,975.00. Following the completion of the sale, the insider owned 47,965 shares of the company’s stock, valued at C$2,184,805.75. This trade represents a 8.58% decrease in their position. In the last ninety days, insiders have sold 31,500 shares of company stock worth $1,415,815. Corporate 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.