Canadian Natural Resources (NYSE:CNQ) Reaches New 1-Year Low – What’s Next?

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

Analysts Set New Price Targets

Separately, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Canadian Natural Resources Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock has a market capitalization of $65.23 billion, a PE ratio of 12.05 and a beta of 1.45. The business’s 50-day moving average price is $31.54 and its 200 day moving average price is $33.59.

Institutional Investors Weigh In On Canadian Natural Resources

Several hedge funds have recently bought and sold shares of the stock. Moloney Securities Asset Management LLC raised its position in shares of Canadian Natural Resources by 5.4% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer’s stock valued at $242,000 after buying an additional 376 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its stake in shares of 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 valued at $337,000 after purchasing an additional 404 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Canadian Natural Resources by 4.9% during the 3rd 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 during the last quarter. Fifth Third Bancorp raised its position in 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 purchasing an additional 429 shares during the period. Finally, Pitcairn Co. lifted its stake in Canadian Natural Resources by 1.3% in the third quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after purchasing an additional 475 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Company Profile

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).