Canadian Natural Resources (TSE:CNQ) Sets New 12-Month 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 company traded as low as C$43.56 and last traded at C$43.72, with a volume of 8315235 shares changing hands. The stock had previously closed at C$45.40.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. TD Securities raised 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 report on Friday, August 2nd. Raymond James dropped their target price 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 report on Wednesday, June 12th. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group decreased their price target on Canadian Natural Resources from C$110.00 to C$55.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Finally, Desjardins upped their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$90.88.

Canadian Natural Resources Price Performance

The company has a 50-day simple moving average of C$48.35 and a two-hundred day simple moving average of C$77.89. The stock has a market capitalization of C$93.32 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. On average, equities research analysts predict that Canadian Natural Resources Limited will post 4.2311277 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 59.09%.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction on Monday, June 24th. The stock was 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 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).