Devin Craig Lowe Sells Shares of Canadian Natural Resources Limited

On January 6th, 2023, Devin Craig Lowe, a Senior Officer at Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) (NYSE:CNQ), sold 7,500 shares of the company’s stock. The shares were sold at an average price of C$46.37, amounting to a total value of C$347,775.00.

Performance of Canadian Natural Resources Stock

Following this transaction, Canadian Natural Resources’ stock saw an increase of 1.2%. During mid-day trading on Tuesday, the stock rose by C$0.57, reaching a price of C$46.80. A total of 1,202,904 shares exchanged hands, compared to the average trading volume of 6,586,569. The company’s market capitalization stands at C$99.68 billion, with a price-to-earnings ratio of 13.33. It has a price-to-earnings-growth (P/E/G) ratio of 0.53 and a beta value of 1.89. The 50-day moving average price is C$46.07, while the 200-day moving average price is C$47.24. The stock has seen a low of C$40.02 and a high of C$56.49 over the past year. The financial ratios reveal a quick ratio of 0.54, a current ratio of 0.88, and a debt-to-equity ratio of 29.64.

Analyst Recommendations

Several equities research analysts have updated their ratings for Canadian Natural Resources recently. TD Securities set a new price target of C$58.00, assigning a "buy" rating in a note dated December 3rd. Raymond James raised their target from C$50.00 to C$51.00 and maintained a "market perform" rating on November 1st. CIBC increased their price target from C$57.50 to C$59.00 on October 9th. Additionally, Gerdes Energy Research upgraded their rating from "neutral" to "buy" on December 16th. ATB Capital also raised their target from C$58.00 to C$60.00, giving the stock an "outperform" rating on October 8th. Currently, seven analysts rate the stock as a hold, while eight analysts recommend a buy. The overall consensus rating remains "Moderate Buy", with an average price target of C$71.94 according to MarketBeat data.

About Canadian Natural Resources Limited

Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs). The company’s product offerings include light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

Conclusion

The actions of Devin Craig Lowe reflect a strategic decision, likely influenced by market conditions and personal financial considerations. Investors and analysts will continue to monitor Canadian Natural Resources Limited as they assess potential investment opportunities in the company.

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