Canadian Natural Resources (TSE:CNQ) Sets New 1-Year Low at $43.56

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$43.56 and last traded at C$43.72, with a volume of 8315235 shares trading hands. The stock had previously closed at C$45.40.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNQ shares. TD Securities increased their price objective 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. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Desjardins boosted their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group lowered their target price on Canadian Natural Resources from C$110.00 to C$55.00 and set a “hold” rating on the stock in a research report on Monday, July 15th. Finally, Raymond James decreased their price target on 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. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$90.88.

Canadian Natural Resources Price Performance

The firm has a market capitalization of C$94.36 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.53 and a beta of 1.91. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The business’s fifty day moving average is C$48.15 and its 200 day moving average is C$77.26.

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. The company had revenue of C$9.05 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. As a group, analysts forecast that Canadian Natural Resources Limited will post 4.2311277 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.525 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.74%. Canadian Natural Resources’s dividend payout ratio (DPR) is 59.09%.

Insider Buying and Selling

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

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).