Canadian Natural Resources Limited [CNQ] gain 24.91% so far this year. What now?

Canadian Natural Resources Limited [NYSE: CNQ] closed the trading session at $30.04 on 04/27/21. The day’s price range saw the stock hit a low of $29.80, while the highest price level was $30.37. The company report on March 9, 2021 that Canadian Natural Resources Limited Announces Normal Course Issuer Bid.

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Calgary, Alberta–(Newsfile Corp. – March 9, 2021) – Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) (“Canadian Natural”) announced that the Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid (“NCIB”) through the facilities of the Toronto Stock Exchange (“TSX”) or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange.

The notice provides that Canadian Natural may, during the 12 month period commencing on March 11, 2021 and ending on March 10, 2022, purchase for cancellation up to 59,278,474 common shares, being 5.0% of the 1,185,569,495 issued and outstanding common shares as at February 28, 2021, in part for the purpose of purchasing common shares to approximately offset the number of common shares it issues throughout the year pursuant to the exercise of options granted under its Amended and Restated Stock Option Plan in order to minimize or eliminate dilution to shareholders. Canadian Natural will not acquire through the facilities of the TSX more than 1,663,760 common shares during a trading day, being 25% of the average daily trading volume of its common shares on the TSX for the six calendar months prior to the date of approval of the NCIB, subject to certain prescribed exceptions. The price which Canadian Natural will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares that may be purchased and the timing of any such purchases will be determined by Canadian Natural. In connection with the NCIB, Canadian Natural expects to enter into an automatic share purchase plan in relation to purchases made by it under the NCIB.

The stocks have a year to date performance of 24.91 percent and weekly performance of 2.18 percent. The stock has been moved at 75.98 percent over the last six months. The stock has performed -3.16 percent around the most recent 30 days and changed 26.11 percent over the most recent 3-months.

If compared to the average trading volume of 3.52M shares, CNQ reached to a volume of 4824827 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.

Credit Suisse have made an estimate for Canadian Natural Resources Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 22, 2021. While these analysts kept the previous recommendation, Goldman raised their target price from $27 to $28. The new note on the price target was released on January 14, 2021, representing the official price target for Canadian Natural Resources Limited stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 0.87, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.62. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 0.33. Price to Free Cash Flow for CNQ in the course of the last twelve months was 16.05 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 2.18. With this latest performance, CNQ shares dropped by -3.16% in over the last four-week period, additionally plugging by 75.98% over the last 6 months – not to mention a rise of 114.27% 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 48.92, with the RSI for the last a single of trading hit 47.51, and the three-weeks RSI is set at 50.99 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 30.08, while it was recorded at 29.72 for the last single week of trading, and 23.02 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 -2.63 and a Gross Margin at -0.81. Canadian Natural Resources Limited’s Net Margin is presently recorded at -2.58.

Return on Total Capital for CNQ is now -0.79, given the latest momentum, and Return on Invested Capital for the company is -0.80. Return on Equity for this stock declined to -1.29, with Return on Assets sitting at -0.56. 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 71.47. Additionally, CNQ Total Debt to Total Capital is recorded at 41.68, with Total Debt to Total Assets ending up at 30.74. Long-Term Debt to Equity for the company is recorded at 66.74, with the Long-Term Debt to Total Capital now at 38.92.

Receivables Turnover for the company is 6.79 with a Total Asset Turnover recorded at a value of 0.22.Canadian Natural Resources Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.90.

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 $23,640 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 $1.67 billion in CNQ stocks shares; and CAPITAL WORLD INVESTORS, currently with $1.57 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 May and at the time of the May reporting period, where 169 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 67,819,113 shares. Additionally, 148 investors decreased positions by around 65,710,723 shares, while 49 investors held positions by with 653,437,087 shares. The mentioned changes placed institutional holdings at 786,966,923 shares, according to the latest SEC report filing. CNQ stock had 59 new institutional investments in for a total of 7,346,354 shares, while 34 institutional investors sold positions of 6,608,153 shares during the same period.

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