Canadian Natural Resources (NYSE:CNQ) Reaches New 1-Year Low at $34.82

Canadian Natural Resources Limited (NYSE:CNQGet Free Report) (TSE:CNQ) shares hit a new 52-week low on Tuesday . The stock traded as low as $34.82 and last traded at $34.85, with a volume of 212857 shares trading hands. The stock had previously closed at $70.91.

Analyst Upgrades and Downgrades

Several analysts recently commented on CNQ shares. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Raymond James upgraded Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

Read Our Latest Research Report on Canadian Natural Resources

Canadian Natural Resources Stock Down 50.8 %

The firm’s 50 day simple moving average is $76.65 and its two-hundred day simple moving average is $70.01. The company has a current ratio of 0.88, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. The firm has a market cap of $37.34 billion, a price-to-earnings ratio of 6.94 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last released its earnings results on Thursday, May 2nd. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.01 billion. On average, equities analysts forecast that Canadian Natural Resources Limited will post 5.56 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.777 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.77. This represents a $3.11 annualized dividend and a yield of 8.91%. The ex-dividend date of this dividend is Monday, June 17th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 61.55%.

Hedge Funds Weigh In On Canadian Natural Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors raised its position in Canadian Natural Resources by 0.5% during the first quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer’s stock valued at $11,011,765,000 after purchasing an additional 684,532 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Canadian Natural Resources by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock valued at $3,343,849,000 after purchasing an additional 714,346 shares during the last quarter. FIL Ltd raised its holdings in shares of Canadian Natural Resources by 1.1% during the 4th quarter. FIL Ltd now owns 23,340,567 shares of the oil and gas producer’s stock worth $1,529,146,000 after buying an additional 250,256 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Canadian Natural Resources by 0.5% during the 1st quarter. TD Asset Management Inc now owns 21,675,640 shares of the oil and gas producer’s stock worth $1,655,085,000 after buying an additional 113,299 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Canadian Natural Resources by 0.4% in the first quarter. Canada Pension Plan Investment Board now owns 21,483,600 shares of the oil and gas producer’s stock valued at $1,640,421,000 after buying an additional 94,011 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Natural Resources

(Get Free Report)

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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