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Canadian Natural Resources Surges to 401st in Daily Rankings with 2.07 Billion Shares Traded

Market BriefThursday, Apr 17, 2025 8:02 pm ET

1min read

On April 17, 2025, canadian natural resources (CNQ) saw a significant increase in trading volume, with a total of 2.07 billion shares traded, marking a 34.49% rise from the previous day. This surge in trading volume placed CNQ at the 401st position in the daily stock market rankings. The stock has been on an upward trajectory, rising by 2.24% over the past two days, accumulating a total increase of 5.30% during this period.

Ontario Teachers Pension Plan Board has significantly increased its stake in Canadian Natural Resources Limited, reflecting a strong confidence in the company's future prospects. This move underscores the institutional investor's belief in the stability and growth potential of CNQ's operations.

Canadian Natural Resources Limited recently announced amendments to its stock option plan, which could impact shareholder value and corporate governance. The company also filed a normal course issuer bid, indicating its intention to repurchase shares, which may support the stock price by reducing the number of outstanding shares.

Canadian Natural Resources is one of Canada's largest oil and gas producers, known for its diversified portfolio and low-cost production. The company offers a substantial dividend yield of around 6% and has a history of increasing its dividends for over 20 consecutive years. This makes CNQ an attractive option for investors seeking both income and capital appreciation, especially given the persistent global demand for energy.

CIBC analyst Dennis Fong has maintained an Outperformer rating for Canadian Natural Resources, although he has lowered the price target from C$59 to C$52. This adjustment reflects the analyst's assessment of the company's current market conditions and future growth prospects, providing investors with a more cautious outlook on the stock's potential performance.

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