Canadian Natural Resources Limited [CNQ] Revenue clocked in at $23.92 billion, up 56.57% YTD: What’s Next?

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Canadian Natural Resources Limited [NYSE: CNQ] traded at a low on 04/21/22, posting a -3.82 loss after which it closed the day’ session at $66.15. The company report on March 8, 2022 that Canadian Natural Resources Limited Announces Normal Course Issuer Bid.

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Calgary, Alberta–(Newsfile Corp. – March 8, 2022) – Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) (“Canadian Natural”) announced today 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 March 11, 2022 and ending March 10, 2023, purchase for cancellation up to 101,574,207 shares, being 10% of the public float as at February 28, 2022. Canadian Natural will not acquire through the facilities of the TSX more than 1,507,034 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 results of the trading session contributed to over 3398731 shares changing hands. Over the past one week, the price volatility of Canadian Natural Resources Limited stands at 3.05% while the volatility over the past one month is 2.71%.

The market cap for CNQ stock reached $76.85 billion, with 1.17 billion shares outstanding and 1.14 billion shares in the current float. Compared to the average trading volume of 3.62M shares, CNQ reached a trading volume of 3398731 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]?

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 25, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on January 10, 2022, representing the official price target for Canadian Natural Resources Limited stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 2.04, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 3.21. The Price to Book ratio for the last quarter was 2.64, with the Price to Cash per share for the same quarter was set at 0.72. Price to Free Cash Flow for CNQ in the course of the last twelve months was 7.85 with Quick ratio for the last quarter at 0.60.

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 1.07. With this latest performance, CNQ shares gained by 7.14% in over the last four-week period, additionally plugging by 54.52% over the last 6 months – not to mention a rise of 125.15% 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 59.65, with the RSI for the last a single of trading hit 57.43, and the three-weeks RSI is set at 60.92 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 59.67, while it was recorded at 66.97 for the last single week of trading, and 44.67 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 +31.65 and a Gross Margin at +34.57. Canadian Natural Resources Limited’s Net Margin is presently recorded at +25.50.

Return on Equity for this stock inclined to 22.11, with Return on Assets sitting at 10.09.

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 4.70%.

Insider trade positions for Canadian Natural Resources Limited [CNQ]

There are presently around $55,292 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 121,275,042, which is approximately 4.141% of the company’s market cap and around 3.30% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 99,175,130 shares of the stock with an approximate value of $6.82 billion in CNQ stocks shares; and FMR LLC, currently with $4.75 billion in CNQ stock with ownership of nearly 12.787% of the company’s market capitalization.

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 223 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 48,499,134 shares. Additionally, 175 investors decreased positions by around 51,947,234 shares, while 61 investors held positions by with 703,456,582 shares. The mentioned changes placed institutional holdings at 803,902,950 shares, according to the latest SEC report filing. CNQ stock had 73 new institutional investments in for a total of 9,424,238 shares, while 37 institutional investors sold positions of 9,210,175 shares during the same period.