Canadian Natural Resources (TSE:CNQ) Sets New 1-Year Low - Here's Why

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ 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 traded. The stock had previously closed at C$39.24.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent analyst reports. Gerdes Energy Research raised shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating in a research report on Monday, December 16th. BMO Capital Markets cut their price objective on Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to an "outperform" rating and set a C$56.00 target price for the company in a research report on Wednesday, March 19th. CIBC boosted their price target on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of Canadian Natural Resources from C$44.00 to C$40.00 and set an "equal weight" rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$60.38.

Canadian Natural Resources Price Performance

The business has a fifty day moving average of C$41.83 and a 200-day moving average of C$44.85. 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 has a market cap of C$79.16 billion, a PE ratio of 10.47, a PEG ratio of 0.53 and a beta of 1.89.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the company's 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. Also, Senior Officer Dwayne Frederick Giggs purchased 1,400 shares of the stock in a transaction on Thursday, April 10th. The stock was acquired at an average cost of C$36.88 per share, for a total transaction of C$51,631.02. Over the last ninety days, insiders bought 29,380 shares of company stock worth $1,351,509 and sold 128,184 shares worth $5,690,788. 4.26% of the stock is owned by company insiders.

About Canadian Natural Resources

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.