Canadian Natural Resources (TSE:CNQ) Shares Cross Above Two Hundred Day Moving Average of $92.30

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$92.30 and traded as high as C$103.97. Canadian Natural Resources shares last traded at C$102.39, with a volume of 1,964,114 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNQ. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$104.00 to C$110.00 in a research report on Tuesday, April 23rd. CIBC raised their price target on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Jefferies Financial Group upped their price objective on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Evercore raised their target price on Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday, April 8th. Finally, National Bankshares upped their price target on Canadian Natural Resources from C$94.00 to C$120.00 and gave the stock a “sector perform” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$111.47.

Canadian Natural Resources Price Performance

The stock’s fifty day moving average price is C$102.37 and its 200-day moving average price is C$92.37. The company has a debt-to-equity ratio of 31.01, a current ratio of 0.96 and a quick ratio of 0.54. The firm has a market cap of C$109.25 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. The company had revenue of C$9.55 billion during the quarter, compared to analysts’ expectations of C$9.04 billion. As a group, equities analysts expect that Canadian Natural Resources Limited will post 7.6092114 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $1.05 per share. The ex-dividend date is Monday, June 17th. This represents a $4.20 annualized dividend and a dividend yield of 4.11%. Canadian Natural Resources’s dividend payout ratio is presently 51.54%.

Insider Activity at Canadian Natural Resources

In other news, Director Stephen W. Laut bought 414 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 2nd. The shares were bought at an average cost of C$105.70 per share, with a total value of C$43,760.71. In other Canadian Natural Resources news, Director Stephen W. Laut bought 414 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 2nd. The shares were bought at an average price of C$105.70 per share, for a total transaction of C$43,760.71. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. Over the last quarter, insiders sold 330,009 shares of company stock valued at $32,364,302. 2.20% of the stock is owned by company 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).