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

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) reached a new 52-week low during trading on Monday . The company traded as low as C$39.93 and last traded at C$40.52, with a volume of 1552576 shares traded. The stock had previously closed at C$40.85.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. TD Securities set a C$58.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. BMO Capital Markets reduced their target price on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Royal Bank of Canada dropped their price target on Canadian Natural Resources from C$63.00 to C$62.00 in a research note on Tuesday, January 14th. Finally, Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$71.44.

Canadian Natural Resources Stock Performance

The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm’s fifty day moving average price is C$44.15 and its two-hundred day moving average price is C$46.13. The stock has a market capitalization of C$81.32 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Robin Sean Zabek sold 19,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total transaction of C$818,254.00. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of Canadian Natural Resources stock in a transaction on Friday, December 27th. The shares were sold at an average price of C$43.68, for a total transaction of C$98,367.36. Over the last quarter, insiders sold 146,932 shares of company stock valued at $6,613,689. Corporate 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.