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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNQ shares. Jefferies Financial Group dropped their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. BMO Capital Markets dropped their target price on 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 report on Monday, February 10th. TD Securities set a C$58.00 price target on shares of Canadian Natural Resources and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Canadian Natural Resources from C$63.00 to C$62.00 in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus target price of C$69.13.

Canadian Natural Resources Stock Performance

The business's 50 day simple moving average is C$43.89 and its two-hundred day simple moving average is C$45.96. The firm has a market capitalization of C$82.71 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79.

Insider Buying and Selling

In related news, Senior Officer Robin Sean Zabek sold 19,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total value of C$818,254.00. Also, Director Stephen W. Laut acquired 942 shares of the business's stock in a transaction dated Monday, January 6th. The shares were purchased at an average price of C$46.46 per share, with a total value of C$43,765.32. Insiders sold 146,932 shares of company stock valued at $6,613,689 over the last 90 days. Company 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.