Canadian Natural Resources (NYSE:CNQ) Hits New 12-Month Low - Here's What Happened

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

Wall Street Analyst Weigh In

Separately, Desjardins raised 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.com, the stock has a consensus rating of "Hold".

Canadian Natural Resources Stock Up 0.4 %

The company has a market cap of $65.44 billion, a PE ratio of 12.08 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a 50-day simple moving average of $31.50 and a two-hundred day simple moving average of $33.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC raised its stake in shares of Canadian Natural Resources by 5.4% during the third quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer's stock valued at $242,000 after purchasing an additional 376 shares during the period. Measured Wealth Private Client Group LLC grew its holdings in Canadian Natural Resources by 4.1% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer's stock worth $337,000 after buying an additional 404 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer's stock valued at $300,000 after purchasing an additional 419 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Canadian Natural Resources by 51.0% in the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer's stock worth $39,000 after acquiring an additional 429 shares during the period. Finally, Pitcairn Co. raised its stake in shares of Canadian Natural Resources by 1.3% in the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer's stock worth $1,209,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 74.03% 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).