Canadian Natural Resources (TSE:CNQ) Shares Pass Below 200 Day Moving Average - Here's Why

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ's share price 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNQ. ATB Capital upped their target price on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. National Bankshares lifted their target price on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 8th. BMO Capital Markets decreased their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Finally, Gerdes Energy Research upgraded shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of "Moderate Buy" and an average target price of C$71.94.

Canadian Natural Resources Stock Up 1.7 %

The stock has a market cap of C$100.13 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.53 and a beta of 1.89. 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 50-day simple moving average of C$46.07 and a two-hundred day simple moving average of C$47.24.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$48.70, for a total value of C$97,405.40. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of Canadian Natural Resources 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. Insiders sold 37,152 shares of company stock worth $1,662,858 in the last three months. 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).