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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) shares reached a new 52-week low on Monday after Royal Bank of Canada lowered their price target on the stock from C$62.00 to C$59.00. The company traded as low as C$43.05 and last traded at C$44.00, with a volume of 8882095 shares. The stock had previously closed at C$43.40.

A number of other research analysts have also commented on CNQ. Desjardins increased their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group lowered their price target on Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating on the stock in a report on Monday. Scotiabank reduced 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, June 11th. Raymond James decreased their price objective 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 report on Wednesday, June 12th. Finally, Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$90.31.

Insider Activity at Canadian Natural Resources

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$48.43, for a total transaction of C$181,612.50. Corporate insiders own 4.24% of the company’s stock.

Canadian Natural Resources Stock Performance

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 firm has a market capitalization of C$95.17 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.53 and a beta of 1.91. The stock has a fifty day moving average price of C$47.72 and a 200-day moving average price of C$75.95.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. As a group, analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders 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 yield of 4.70%. Canadian Natural Resources’s dividend payout ratio (DPR) 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).