Canadian Natural Resources (TSE:CNQ) Sets New 12-Month Low After Analyst Downgrade

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ's stock price hit a new 52-week low on Tuesday after Scotiabank lowered their price target on the stock from C$114.00 to C$57.00. Scotiabank currently has a sector 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 trading hands. The stock had previously closed at C$48.81.

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Other analysts also recently issued research reports about the stock. National Bankshares lifted 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 report on Friday, April 19th. Evercore boosted their price objective on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Raymond James set a C$97.00 price objective on shares of Canadian Natural Resources and gave the stock a "market perform" rating in a report on Wednesday, May 29th. UBS Group boosted their price objective on shares of Canadian Natural Resources from C$113.00 to C$124.00 in a report on Tuesday, April 9th. Finally, Desjardins downgraded shares of Canadian Natural Resources from a "buy" rating to a "hold" rating and boosted their price objective for the stock from C$104.00 to C$110.00 in a report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$107.88.

Check Out Our Latest Stock Report on CNQ

Insider Activity

In other Canadian Natural Resources news, Senior Officer Jay Ellery Froc sold 3,240 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$99.79, for a total transaction of C$323,319.60. In other Canadian Natural Resources news, Director Norman Murray Edwards sold 251,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$98.46, for a total transaction of C$24,762,187.00. Also, Senior Officer Jay Ellery Froc sold 3,240 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$99.79, for a total transaction of C$323,319.60. Insiders sold a total of 310,657 shares of company stock valued at $30,497,137 over the last 90 days. Insiders own 2.21% of the company's stock.

Canadian Natural Resources Stock Up 0.5 %

The firm's 50-day moving average price is C$104.82 and its 200-day moving average price is C$94.87. The company has a market cap of C$52.46 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth 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.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released its quarterly earnings data on Thursday, May 2nd. The company reported C$1.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of C$8.17 billion. Sell-side analysts forecast that Canadian Natural Resources Limited will post 6.8572356 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date of this dividend is Monday, June 17th. Canadian Natural Resources's payout ratio is 58.65%.

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).

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