Canadian Natural Resources (TSE:CNQ) Reaches New 1-Year Low – Here’s Why

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s share price hit a new 52-week low on Wednesday . The stock traded as low as C$42.65 and last traded at C$42.84, with a volume of 21251958 shares changing hands. The stock had previously closed at C$43.80.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNQ shares. Jefferies Financial Group increased their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a research note on Friday, October 11th. CIBC increased their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research report on Wednesday, October 9th. National Bankshares boosted their price target on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. BMO Capital Markets decreased their price objective on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Finally, Desjardins raised Canadian Natural Resources from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$56.00 to C$59.00 in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$71.94.

Canadian Natural Resources Stock Up 0.0 %

The stock has a fifty day moving average of C$47.41 and a 200-day moving average of C$50.82. The firm has a market capitalization of C$90.53 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.53 and a beta of 1.89. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 dividend on an annualized basis and a yield of 4.94%. Canadian Natural Resources’s dividend payout ratio is currently 60.97%.

Insiders Place Their Bets

In other Canadian Natural Resources news, Director Stephen W. Laut sold 6,400 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of C$47.04, for a total transaction of C$301,056.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. In the last quarter, insiders have sold 16,422 shares of company stock worth $785,328. Company insiders own 4.26% of the company’s stock.

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).