Canadian Natural Resources (TSE:CNQ) Hits New 12-Month Low - Here's Why

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$42.65 and last traded at C$42.84, with a volume of 21251958 shares trading hands. The stock had previously closed at C$43.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CNQ shares. Jefferies Financial Group upped their price objective on shares of Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th. Raymond James boosted their price target on Canadian Natural Resources from C$50.00 to C$51.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Desjardins raised Canadian Natural Resources from a "hold" rating to a "buy" rating and raised their price objective for the company from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. CIBC lifted their price objective on Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. Finally, ATB Capital increased their target price on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$71.94.

Canadian Natural Resources Stock Down 2.2 %

The company's 50 day simple moving average is C$47.69 and its 200-day simple moving average is C$51.69. 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 cap of C$91.25 billion, a P/E ratio of 12.21, a PEG ratio of 0.53 and a beta of 1.89.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.525 per share. 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 4.90%. Canadian Natural Resources's dividend payout ratio (DPR) is 60.97%.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. Over the last quarter, insiders have sold 16,422 shares of company stock worth $785,328. 4.26% of the stock is owned by 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).

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