Canadian Natural Resources (TSE:CNQ) Stock Passes Below 200-Day Moving Average – What’s Next?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$47.24 and traded as low as C$45.96. Canadian Natural Resources shares last traded at C$46.23, with a volume of 13,435,210 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and lifted their price target for the company from C$56.00 to C$59.00 in a research note on Tuesday, October 8th. ATB Capital lifted their target price on Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group boosted their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Finally, Wells Fargo & Company upped their price objective on Canadian Natural Resources from C$48.00 to C$50.00 in a research note on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.94.

Canadian Natural Resources Stock Performance

The firm has a market cap of C$98.47 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The stock’s 50 day moving average is C$46.07 and its 200 day moving average is C$47.24.

Insider Activity

In other Canadian Natural Resources news, Director Stephen W. Laut sold 6,400 shares of Canadian Natural Resources stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of C$47.04, for a total value of C$301,056.00. Also, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$48.70, for a total transaction of C$97,405.40. Over the last quarter, insiders have sold 29,652 shares of company stock valued at $1,315,083. 4.26% of the stock is owned by insiders.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).