The stock closed at C$62.26 on Wednesday as the S&P/TSX Composite Index rose 1.24% to 33,981.82, leaving the energy producer lagging a broadly stronger Canadian market.
Trading volume was 8.6 million shares, well below the company's 50-day average of 19.1 million, indicating lighter-than-usual activity during the decline.
With record output but a plunging stock, will CNQ's earnings reveal a hidden weakness or a major buying opportunity?
How will Canada's top oil producer balance record shareholder payouts with its massive, policy-dependent C$16.5 billion carbon capture plan?
Is CNQ’s deferred multi-billion dollar mine a warning shot to Ottawa about the future of Canadian energy investment?