Canadian Natural Resources Limited (CNQ) : Traders are bullish on Canadian Natural Resources Limited (CNQ) as it has outperformed the S&P 500 by a wide margin of 2.42% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.37%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.34% in the last 1 week, and is up 2.81% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Canadian Natural Resources Limited is up 13.23% in the last 3-month period. Year-to-Date the stock performance stands at 50.83%. The stock has recorded a 20-day Moving Average of 4.98% and the 50-Day Moving Average is 6.1%.
Canadian Natural Resources Limited (NYSE:CNQ): The stock opened at $32.68 on Friday but the bulls could not build on the opening and the stock topped out at $32.77 for the day. The stock traded down to $32.44 during the day, due to lack of any buying support eventually closed down at $32.51 with a loss of -1.10% for the day. The stock had closed at $32.87 on the previous day. The total traded volume was 1,422,395 shares.
Also, Bank of America initiates coverage on Canadian Natural Resources Limited (NYSE:CNQ) The shares have been rated Buy. The rating by the firm was issued on August 19, 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.