Canadian Natural Resources (TSE:CNQ) Hits New 52-Week Low After Analyst Downgrade

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price hit a new 52-week low during 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 trading hands. The stock had previously closed at C$43.40.

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

Insider Activity

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction that occurred 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. Corporate insiders own 4.24% of the company’s stock.

Canadian Natural Resources Stock Up 1.2 %

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’s fifty day moving average is C$47.80 and its 200-day moving average is C$76.30. The company has a market cap of C$93.57 billion, a PE ratio of 12.48, a PEG ratio of 0.53 and a beta of 1.91.

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

Canadian Natural Resources Cuts Dividend

The firm also recently declared 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 is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is presently 59.09%.

About Canadian Natural Resources

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).