Canadian Natural Resources (TSE:CNQ) Sets New 52-Week Low – Here’s What Happened

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$41.94 and last traded at C$42.08, with a volume of 2661053 shares changing hands. The stock had previously closed at C$42.66.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CNQ shares. BMO Capital Markets cut their target price on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Raymond James boosted their target price on Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Royal Bank of Canada lowered their price target on Canadian Natural Resources from C$63.00 to C$62.00 in a report on Tuesday, January 14th. Finally, Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of C$71.44.

Canadian Natural Resources Stock Down 1.8 %

The firm has a market capitalization of C$87.91 billion, a P/E ratio of 11.63, a PEG ratio of 0.53 and a beta of 1.89. The firm’s 50 day moving average is C$44.34 and its two-hundred day moving average is C$46.32. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

Insider Activity

In other Canadian Natural Resources news, Director Stephen W. Laut bought 942 shares of Canadian Natural Resources stock in a transaction dated Monday, January 6th. The stock was bought at an average cost of C$46.46 per share, for a total transaction of C$43,765.32. Also, Senior Officer Warren Paul Raczynski sold 7,500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of C$43.70, for a total value of C$327,750.00. Insiders sold a total of 146,932 shares of company stock valued at $6,613,689 in the last quarter. Company insiders own 4.26% of the company’s stock.

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).