CNQ's 43% Volume Spike Propels It to 313th in Trading Activity Amid Analyst Upgrades and Mixed Insider Moves

On August 25, 2025, Canadian Natural Resources (CNQ) traded with a volume of 0.28 billion Canadian dollars, marking a 43.26% increase from the previous day’s activity. The stock closed down 0.29%, ranking 313th in trading activity among listed equities.

Analysts have highlighted CNQ’s recent performance, including a price surge above its 200-day moving average of C$42.26, with shares reaching a high of C$43.20. Institutional activity also drew attention, as Royal Bank of Canada revised its price target to C$62.00 with an “outperform” rating, while Scotiabank raised its target to C$54.00. Insider transactions included Stephen W. Laut purchasing 1,006 shares at C$43.47 apiece, contrasting with a larger insider sell-off of 299,676 shares valued at $13.45 million in the past 90 days.

The company maintains a 4.33% dividend yield, distributing C$3.60 annually in quarterly payments. Its most recent ex-dividend date was September 14, 2023, following a C$0.90 per share payout on July 5. A March 2023 dividend increase of C$0.15 signaled confidence in cash flow, though the payout ratio of 371.76% based on cash flow indicates reliance on liquidity to sustain distributions.

A backtested strategy of purchasing the top 500 stocks by daily trading volume from 2022 to 2025 yielded a compound annual growth rate of 6.98%, but faced a 15.46% maximum drawdown during the period. The strategy showed steady growth overall, though the mid-2023 downturn underscores risks in high-volume trading approaches.