Canadian Natural Resources (TSE:CNQ) Hits New 1-Year Low on Analyst Downgrade

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) reached a new 52-week low on Tuesday after Raymond James lowered their price target on the stock from C$97.00 to C$49.00. Raymond James currently has a market perform rating on the stock. Canadian Natural Resources traded as low as C$47.87 and last traded at C$49.01, with a volume of 2095590 shares changing hands. The stock had previously closed at C$48.81.

Several other research analysts have also commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a research note on Monday, March 4th. Scotiabank dropped their price objective 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. Royal Bank of Canada lifted their price objective on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a research note on Tuesday, April 9th. Jefferies Financial Group boosted their target price on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, National Bankshares boosted their target price on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the company a “sector perform” rating in a research note on Friday, April 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$104.88.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Timothy Shawn Mckay sold 30,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of C$99.36, for a total value of C$2,980,797.00. In other news, Director Stephen W. Laut bought 414 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average cost of C$105.70 per share, for a total transaction of C$43,760.71. Also, Senior Officer Timothy Shawn Mckay sold 30,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of C$99.36, for a total transaction of C$2,980,797.00. Insiders sold 55,917 shares of company stock worth $5,411,630 over the last three months. 2.21% of the stock is owned by corporate insiders.

Canadian Natural Resources Price Performance

The firm has a market capitalization of C$51.94 billion, a P/E ratio of 7.12, a P/E/G ratio of 0.53 and a beta of 1.97. The company has a debt-to-equity ratio of 31.83, a current ratio of 0.88 and a quick ratio of 0.54. The stock’s fifty day simple moving average is C$102.50 and its 200 day simple moving average is C$94.26.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 2nd. The company reported C$1.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.40 by C($0.03). Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%. The business had revenue of C$8.24 billion for the quarter, compared to analysts’ expectations of C$8.17 billion. On average, equities research analysts predict that Canadian Natural Resources Limited will post 6.8572356 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.05 per share. The ex-dividend date is Monday, June 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 8.65%. Canadian Natural Resources’s payout ratio is 58.65%.

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).