Canadian Natural Resources (TSE:CNQ) Sets New 1-Year Low After Analyst Downgrade

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) hit a new 52-week low during mid-day trading on Monday after Jefferies Financial Group lowered their price target on the stock from C$52.00 to C$49.00. Jefferies Financial Group currently has a hold rating on the stock. Canadian Natural Resources traded as low as C$43.05 and last traded at C$44.00, with a volume of 8882095 shares traded. The stock had previously closed at C$43.40.

CNQ has been the subject of a number of other reports. Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from C$60.00 to C$62.00 in a research report on Friday, August 2nd. Wolfe Research raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Raymond James lowered their price target on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Scotiabank lowered their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Finally, TD Securities lifted their price target on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of C$90.50.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. 4.24% of the stock is owned by company insiders.

Canadian Natural Resources Price Performance

The firm’s 50-day moving average is C$47.80 and its 200-day moving average is C$76.30. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The company has a market capitalization of C$93.57 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. Equities analysts predict that Canadian Natural Resources Limited will post 4.2311277 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 59.09%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).