Canadian Natural Resources (TSE:CNQ) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-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 Upgrades and Downgrades

A number of brokerages have commented on CNQ. Jefferies Financial Group increased their price objective on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. CIBC boosted their price objective on Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a research note on Monday, December 9th. Finally, BMO Capital Markets lowered their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$71.94.

Canadian Natural Resources Stock Up 1.4 %

The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The company has a market capitalization of C$98.47 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.53 and a beta of 1.89. The firm has a fifty day simple moving average of C$46.07 and a 200-day simple moving average of C$47.24.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Robin Sean Zabek sold 19,000 shares of Canadian Natural Resources stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total value of C$818,254.00. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of C$43.68, for a total value of C$98,367.36. In the last three months, insiders sold 29,652 shares of company stock valued at $1,315,083. 4.26% of the stock is owned by corporate insiders.

Canadian Natural Resources Company Profile

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).