Canadian Natural Resources Limited (CNQ) has been under a strong bear grip, hence the stock is down -0.77% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 4.13% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.19% in the last 1 week, and is up 0.25% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.06% and the 50-Day Moving Average is 5.55%. Canadian Natural Resources Limited (NYSE:CNQ): stock turned positive on Friday. Though the stock opened at $32.02, the bulls momentum made the stock top out at $32.31 level for the day. The stock recorded a low of $31.89 and closed the trading day at $32.08, in the green by 0.72%. The total traded volume for the day was 972,615. The stock had closed at $31.85 in the previous days trading.
The company Insiders own 5% of Canadian Natural Resources Limited shares according to the proxy statements. Institutional Investors own 67.78% of Canadian Natural Resources Limited shares. Also, Equity Analysts at the Brokerage Firm, Macquarie, upgrades their rating on the shares of Canadian Natural Resources Limited (NYSE:CNQ). Macquarie has a Outperform rating on the shares. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on August 5, 2016.
Canadian Natural Resources Limited is an independent crude oil and natural gas producer. The Companys diversified, balanced resource base consists of both dry and liquids-rich natural gas, heavy crude oil, bitumen, medium and light crude oil and synthetic crude oil. Its reserves were approximately 8.89 billion barrel of oil equivalent. Its segments include North America, North Sea, Offshore Africa, Oil Sands Mining and Upgrading, and Midstream. It has a portfolio of assets with production and development of both natural gas and crude oil. North America serve as its main operations with international exposure provided through operations in the United Kingdom portion of the North Sea and Offshore Africa.