Canadian Natural Resources (TSE:CNQ) Reaches New 1-Year Low – Here’s Why

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$36.98 and last traded at C$37.79, with a volume of 1081801 shares. The stock had previously closed at C$39.24.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNQ shares. Raymond James increased their target price on shares of Canadian Natural Resources from C$51.00 to C$52.00 and gave the stock a “market perform” rating in a research report on Friday, March 7th. Wells Fargo & Company cut their target price on shares of Canadian Natural Resources from C$50.00 to C$44.00 in a research note on Friday, March 7th. BMO Capital Markets decreased 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. Jefferies Financial Group lowered their price objective on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Finally, National Bankshares lowered their target price on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$68.53.

Canadian Natural Resources Trading Down 3.6 %

The firm has a market cap of C$79.41 billion, a P/E ratio of 10.51, a P/E/G ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The firm has a fifty day moving average of C$42.78 and a 200-day moving average of C$45.21.

Insider Buying and Selling

In other news, Senior Officer Scott Gerald Stauth acquired 27,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were bought at an average price of C$46.52 per share, with a total value of C$1,256,121.00. Also, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of Canadian Natural Resources stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of C$44.98, for a total value of C$3,643,380.00. Insiders have sold a total of 147,184 shares of company stock valued at $6,592,395 in the last quarter. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.