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Stock Investors Bid Up Shares of Canadian Natural Resources, Up 1.4%

Published on Tue, 02/12/2013 - 11:29
By Mallory Stone

Canadian Natural Resources (NYSE:CNQ) is a company whose shares are active, trading 1.4% higher to $30.85. The Dow Jones Industrial Average is now trading fractionally higher to 13,994 and the S&P is trading fractionally higher to 1,518.

Canadian Natural Resources has overhead space with shares priced $30.85, or 20.1% below the average consensus analyst price target of $38.61. The stock should find initial support at its 200-day moving average (MA) of $29.60 and further support at its 50-day MA of $29.44.

In the past 52 weeks, Canadian Natural Resources share prices have been bracketed by a low of $25.01 and a high of $38.62 and are now at $30.85, 23% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 0.37% higher over the past week, respectively.

Canadian Natural Resources Ltd. acquires, explores for, develops, and produces natural gas, crude oil, and related products. The Company operates in the Canadian provinces of Alberta, northeastern British Columbia and Saskatchewan. Canadian Natural also operates in areas which have access for exploration activities and where pipeline systems already exist.

By Mallory Stone
mstone@fnno.com