Canadian Natural Resource (CNQ) Shares Gap Down to $31.93

Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) shares gapped down before the market opened on Wednesday . The stock had previously closed at $32.49, but opened at $31.93. Canadian Natural Resource shares last traded at $31.04, with a volume of 2593505 shares changing hands.

A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Canadian Natural Resource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. AltaCorp Capital restated a “buy” rating and issued a $52.00 price target on shares of Canadian Natural Resource in a report on Monday, January 15th. Wells Fargo & Co cut shares of Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating and issued a $48.00 price target on shares of Canadian Natural Resource in a report on Thursday, November 2nd. Finally, Morgan Stanley raised their price target on shares of Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $47.71.

The stock has a market capitalization of $37,372.54, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 0.71.

Several large investors have recently added to or reduced their stakes in the company. Korea Investment CORP boosted its stake in Canadian Natural Resource by 3.4% in the 3rd quarter. Korea Investment CORP now owns 805,050 shares of the oil and gas producer’s stock worth $26,900,000 after purchasing an additional 26,584 shares in the last quarter. Shell Asset Management Co. boosted its stake in Canadian Natural Resource by 176.5% in the 3rd quarter. Shell Asset Management Co. now owns 293,011 shares of the oil and gas producer’s stock worth $12,749,000 after purchasing an additional 187,038 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Canadian Natural Resource in the 2nd quarter worth approximately $290,000. CI Investments Inc. acquired a new stake in Canadian Natural Resource in the 3rd quarter worth approximately $18,369,000. Finally, Barometer Capital Management Inc. acquired a new stake in Canadian Natural Resource in the 3rd quarter worth approximately $17,435,000. Institutional investors and hedge funds own 58.89% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2018/02/09/canadian-natural-resource-cnq-shares-gap-down-to-31-93.html.

About Canadian Natural Resource

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Receive News & Ratings for Canadian Natural Resource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resource and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply