For Canadian Natural Resources Limited [CNQ], Analyst sees a rise to $44. What next?

Canadian Natural Resources Limited [NYSE: CNQ] traded at a low on 08/04/21, posting a -3.24 loss after which it closed the day’ session at $32.24. The company report on June 9, 2021 that Canada’s Largest Oil Sands Producers Announce Unprecedented Alliance to Achieve Net Zero Greenhouse Gas Emissions.

Calgary, Alberta–(Newsfile Corp. – June 9, 2021) – Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada’s oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations.

This collaborative effort follows welcome announcements from the Government of Canada and the Government of Alberta of important support programs for emissions- reduction projects and infrastructure. Collaboration between industry and government will be critical to progressing the Oil Sands Pathways to Net Zero vision and achieving Canada’s climate goals.

The results of the trading session contributed to over 2967124 shares changing hands. Over the past one week, the price volatility of Canadian Natural Resources Limited stands at 3.32% while the volatility over the past one month is 3.23%.

The market cap for CNQ stock reached $38.57 billion, with 1.19 billion shares outstanding and 1.16 billion shares in the current float. Compared to the average trading volume of 2.81M shares, CNQ reached a trading volume of 2967124 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 Buy, with their previous recommendation back on June 11, 2021. The new note on the price target was released on March 22, 2021, representing the official price target for Canadian Natural Resources Limited stock. Previously, the target price had yet another raise from $27 to $28, while Goldman kept a Neutral rating on CNQ stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 1.13, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 0.39. Price to Free Cash Flow for CNQ in the course of the last twelve months was 13.66 with Quick ratio for the last quarter at 0.60.

How has CNQ stock performed recently?

Canadian Natural Resources Limited [CNQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.56. With this latest performance, CNQ shares dropped by -10.19% in over the last four-week period, additionally plugging by 31.65% over the last 6 months – not to mention a rise of 76.56% 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 41.21, with the RSI for the last a single of trading hit 40.48, and the three-weeks RSI is set at 42.85 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 35.06, while it was recorded at 32.89 for the last single week of trading, and 28.60 for the last 200 days.

Canadian Natural Resources Limited [CNQ]: Deeper insight into the 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.

Reflecting on the efficiency of the workforce at the company, Canadian Natural Resources Limited [CNQ] managed to generate an average of -$43,530 per employee. 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 0.60 and a Current Ratio set at 0.80.

Earnings analysis for Canadian Natural Resources Limited [CNQ]

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%.

Insider trade positions for Canadian Natural Resources Limited [CNQ]

There are presently around $26,011 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 141,783,121, which is approximately 2.799% of the company’s market cap and around 3.30% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 77,813,989 shares of the stock with an approximate value of $2.51 billion in CNQ stocks shares; and ROYAL BANK OF CANADA, currently with $1.98 billion in CNQ stock with ownership of nearly 10.283% 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 August and at the time of the August reporting period, where 183 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 99,587,070 shares. Additionally, 157 investors decreased positions by around 85,463,413 shares, while 48 investors held positions by with 621,728,304 shares. The mentioned changes placed institutional holdings at 806,778,787 shares, according to the latest SEC report filing. CNQ stock had 54 new institutional investments in for a total of 3,263,963 shares, while 46 institutional investors sold positions of 5,249,936 shares during the same period.

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