Canadian Natural Resources Stock Price Reaches Above 200 Day Moving Average

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) saw its stock price surpass its two hundred day moving average on Monday. The stock reached a high of $71.48, exceeding the moving average of $70.01. At the end of trading, Canadian Natural Resources shares were at $70.91 with a trading volume of 1,529,535 shares.

Analysts Update Price Targets for Canadian Natural Resources

Various brokerages recently provided their insights on CNQ. Raymond James upgraded Canadian Natural Resources to a “hold” rating on May 28th, while Desjardins downgraded the stock from “buy” to “hold” on April 23rd. Overall, seven investment analysts have rated the stock as hold and two as buy, with an average target price of $94.00.

Performance and Financials of Canadian Natural Resources

The stock’s 50-day simple moving average stands at $76.65, while the 200-day simple moving average is $70.01. Canadian Natural Resources has a quick ratio of 0.61, a current ratio of 0.88, and a debt-to-equity ratio of 0.23. With a market cap of $75.87 billion, the company has a price-to-earnings ratio of 14.13 and a beta of 1.50. In its latest earnings report on May 2nd, the company posted $1.02 EPS, slightly below analysts’ expectations. Analysts predict an EPS of 5.56 for the current fiscal year.

Dividend Increase and Institutional Trading

Canadian Natural Resources recently announced an increased quarterly dividend, now at $0.777 per share. The ex-dividend date is set for June 17th, with a dividend payout ratio of 61.55%. Institutional investors have shown interest in the company, with various firms acquiring stakes or increasing their holdings in Canadian Natural Resources.

Company Profile: Canadian Natural Resources

Canadian Natural Resources Limited is involved in acquiring, exploring, developing, producing, marketing, and selling crude oil, natural gas, and natural gas liquids. The company offers various types of crude oil, including light, medium, heavy, bitumen, and synthetic crude oil.

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