Canadian Natural Resources Limited [NYSE: CNQ] jumped around 1.12 points on 1/12/2022, while shares priced at $49.37 at the close of the session, up 2.32%. The company report on January 11, 2022 that Canadian Natural Resources Limited Announces 2022 Budget.
Calgary, Alberta–(Newsfile Corp. – January 11, 2022) – Canadian Natural’s (TSX: CNQ) (NYSE: CNQ) President, Tim McKay, commented “Our key advantages are our committed and dedicated work teams and our large, high quality asset base including long life low decline assets which provides us optionality and flexibility to allocate capital to our highest return projects. In 2022 our diversified production mix is targeted to consist of approximately 46% light and synthetic crude oil, 28% heavy crude oil and 26% natural gas, at the mid-point of our targeted production range. Our assets have low maintenance capital requirements, and combined with our strong operating teams and our effective and efficient operations, we drive industry leading free cash flow, making Canadian Natural unique, robust and sustainable.
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Our 2022 budget is targeting base capital of approximately $3.6 billion that delivers targeted production of approximately 1,270,000 BOE/d to 1,320,000 BOE/d, with disciplined year over year near-term growth of approximately 60,000 BOE/d derived primarily from production growth in our conventional E&P operations. Also in 2022, strategic growth capital of approximately $0.7 billion will be allocated to our long life low decline assets which targets to add incremental annual production in 2023 and beyond, resulting in approximate total increases in production of 63,000 bbl/d by 2025. Safe, reliable, low cost operations continue to be a focus for the Company, as we maximize value for our shareholders in 2022 and beyond.”.
Compared to the average trading volume of 2.88M shares, CNQ reached a trading volume of 3969760 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]?
BofA Securities have made an estimate for Canadian Natural Resources Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 10, 2022. The new note on the price target was released on December 09, 2021, representing the official price target for Canadian Natural Resources Limited stock. On June 11, 2021, analysts increased their price target for CNQ shares from 38 to 44.
The Average True Range (ATR) for Canadian Natural Resources Limited is set at 1.35, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.76. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 0.83. Price to Free Cash Flow for CNQ in the course of the last twelve months was 6.66 with Quick ratio for the last quarter at 0.70.
How has CNQ stock performed recently?
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 13.86. With this latest performance, CNQ shares gained by 23.89% in over the last four-week period, additionally plugging by 46.07% over the last 6 months – not to mention a rise of 87.15% 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 79.34, with the RSI for the last a single of trading hit 87.74, and the three-weeks RSI is set at 73.15 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 42.16, while it was recorded at 47.54 for the last single week of trading, and 36.56 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 0.70 and a Current Ratio set at 0.90.
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 4.70%.
Insider trade positions for Canadian Natural Resources Limited [CNQ]
There are presently around $40,306 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 116,452,500, which is approximately -7.756% of the company’s market cap and around 3.30% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 89,966,731 shares of the stock with an approximate value of $4.44 billion in CNQ stocks shares; and ROYAL BANK OF CANADA, currently with $3.07 billion in CNQ stock with ownership of nearly 1.294% of the company’s market capitalization.
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 203 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 55,860,718 shares. Additionally, 156 investors decreased positions by around 41,050,056 shares, while 57 investors held positions by with 719,504,617 shares. The mentioned changes placed institutional holdings at 816,415,391 shares, according to the latest SEC report filing. CNQ stock had 64 new institutional investments in for a total of 12,368,690 shares, while 31 institutional investors sold positions of 5,411,887 shares during the same period.