Goldman slashes price target on Canadian Natural Resources Limited [CNQ] – find out why.

Canadian Natural Resources Limited [NYSE: CNQ] surged by $0.6 during the normal trading session on Thursday and reaching a high of $30.95 during the day while it closed the day at $30.35. The company report on March 4, 2021 that Canadian Natural Resources Limited Announces Quarterly Dividend.

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Calgary, Alberta–(Newsfile Corp. – March 4, 2021) – Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.47 (forty-seven cents) per common share. The dividend will be payable on April 5, 2021 to shareholders of record at the close of business on March 19, 2021.

Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa.

Canadian Natural Resources Limited stock has also gained 8.08% of its value over the past 7 days. However, CNQ stock has inclined by 31.16% in the 3 months of the year. Over the past six months meanwhile, it has gained 52.13% and gained 26.20% year-on date.

The market cap for CNQ stock reached $37.17 billion, with 1.18 billion shares outstanding and 1.16 billion shares in the current float. Compared to the average trading volume of 3.62M shares, CNQ reached a trading volume of 7431369 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Canadian Natural Resources Limited [CNQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNQ shares is $40.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNQ stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Canadian Natural Resources Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 14, 2021. The new note on the price target was released on December 15, 2020, representing the official price target for Canadian Natural Resources Limited stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 1.05, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.63. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 0.29. Price to Free Cash Flow for CNQ in the course of the last twelve months was 21.58 with Quick ratio for the last quarter at 0.70.

CNQ stock trade performance evaluation

Canadian Natural Resources Limited [CNQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.08. With this latest performance, CNQ shares gained by 28.49% in over the last four-week period, additionally plugging by 52.13% over the last 6 months – not to mention a rise of 22.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNQ stock in for the last two-week period is set at 71.76, with the RSI for the last a single of trading hit 75.01, and the three-weeks RSI is set at 68.91 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 25.79, while it was recorded at 28.92 for the last single week of trading, and 20.72 for the last 200 days.

Canadian Natural Resources Limited [CNQ]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Canadian Natural Resources Limited [CNQ] shares currently have an operating margin of +24.45 and a Gross Margin at +26.93. Canadian Natural Resources Limited’s Net Margin is presently recorded at +23.68.

Return on Total Capital for CNQ is now 10.13, given the latest momentum, and Return on Invested Capital for the company is 10.16. Return on Equity for this stock inclined to 16.18, with Return on Assets sitting at 7.01. When it comes to the capital structure of this company, Canadian Natural Resources Limited [CNQ] has a Total Debt to Total Equity ratio set at 65.13. Additionally, CNQ Total Debt to Total Capital is recorded at 39.44, with Total Debt to Total Assets ending up at 28.22. Long-Term Debt to Equity for the company is recorded at 57.63, with the Long-Term Debt to Total Capital now at 34.90.

Reflecting on the efficiency of the workforce at the company, Canadian Natural Resources Limited [CNQ] managed to generate an average of $532,024 per employee. Receivables Turnover for the company is 12.62 with a Total Asset Turnover recorded at a value of 0.30.Canadian Natural Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for Canadian Natural Resources Limited [CNQ] stock

With the latest financial reports released by the company, Canadian Natural Resources Limited posted 0.2/share EPS, while the average EPS was predicted by analysts to be reported at 0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Canadian Natural Resources Limited go to 3.90%.

Canadian Natural Resources Limited [CNQ]: Insider Ownership positions

There are presently around $23,843 million, or 66.60% of CNQ stock, in the hands of institutional investors. The top three institutional holders of CNQ stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 137,922,320, which is approximately -2.673% of the company’s market cap and around 3.30% of the total institutional ownership; ROYAL BANK OF CANADA, holding 55,571,149 shares of the stock with an approximate value of $1.69 billion in CNQ stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.59 billion in CNQ stock with ownership of nearly 60.845% of the company’s market capitalization.

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Positions in Canadian Natural Resources Limited stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 157 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 66,629,402 shares. Additionally, 157 investors decreased positions by around 67,395,144 shares, while 45 investors held positions by with 651,592,655 shares. The mentioned changes placed institutional holdings at 785,617,201 shares, according to the latest SEC report filing. CNQ stock had 55 new institutional investments in for a total of 6,376,612 shares, while 38 institutional investors sold positions of 6,735,775 shares during the same period.

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