Canadian Natural Resources (NYSE:CNQ) Reaches New 12-Month Low – Here’s Why

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $28.84 and last traded at $29.51, with a volume of 147716 shares traded. The stock had previously closed at $30.35.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, According to MarketBeat, Canadian Natural Resources has an average rating of “Hold”.

Canadian Natural Resources Stock Up 3.3 %

The company has a 50-day moving average of $31.54 and a two-hundred day moving average of $33.59. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $65.23 billion, a P/E ratio of 12.05 and a beta of 1.45.

Institutional Trading of Canadian Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Holocene Advisors LP purchased a new stake in shares of Canadian Natural Resources during the third quarter valued at $13,700,000. SG Americas Securities LLC grew its position in Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after purchasing an additional 17,694 shares during the period. Canoe Financial LP grew its holdings in shares of Canadian Natural Resources by 226.0% in the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock worth $51,469,000 after acquiring an additional 1,074,199 shares during the period. Cerity Partners LLC boosted its position in Canadian Natural Resources by 112.8% in the third quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer’s stock worth $15,057,000 after purchasing an additional 240,354 shares during the last quarter. Finally, Anson Funds Management LP grew its stake in shares of Canadian Natural Resources by 150.0% during the 3rd quarter. Anson Funds Management LP now owns 100,000 shares of the oil and gas producer’s stock valued at $3,321,000 after purchasing an additional 60,000 shares during the period. 74.03% of the stock is currently owned by institutional investors.

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).