Canadian Natural Resources Limited [CNQ] is 36.31% higher this YTD. Is it still time to buy?

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Canadian Natural Resources Limited [NYSE: CNQ] stock went on a downward path that fall over -1.54% on Thursday, amounting to a one-week price decrease of less than -9.75%. The company report on May 6, 2022 that Canadian Natural Resources Limited Reports Voting Results at Annual and Special Meeting.

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Calgary, Alberta–(Newsfile Corp. – May 6, 2022) – Canadian Natural held its Annual and Special Meeting of the Shareholders on May 5, 2022. The result of the vote by shareholders for each resolution is reported below.

The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are elected or appointed.

Over the last 12 months, CNQ stock rose by 74.36%. The one-year Canadian Natural Resources Limited stock forecast points to a potential downside of -17.41.

The market cap for the stock reached $67.88 billion, with 1.16 billion shares outstanding and 1.14 billion shares in the current float. Compared to the average trading volume of 3.38M shares, CNQ stock reached a trading volume of 3496229 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 2.70, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.90. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 0.34. Price to Free Cash Flow for CNQ in the course of the last twelve months was 7.01 with Quick ratio for the last quarter at 0.60.

CNQ Stock Performance Analysis:

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 -9.75. With this latest performance, CNQ shares dropped by -10.67% in over the last four-week period, additionally plugging by 35.73% over the last 6 months – not to mention a rise of 74.36% 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 37.56, with the RSI for the last a single of trading hit 31.50, and the three-weeks RSI is set at 42.09 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 62.08, while it was recorded at 59.36 for the last single week of trading, and 46.78 for the last 200 days.

Insight into Canadian Natural Resources Limited 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 0.70.

CNQ Stock EPS

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 8.00%.

Canadian Natural Resources Limited [CNQ] Insider Position Details

There are presently around $46,778 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 $5.8 billion in CNQ stocks shares; and FMR LLC, currently with $4.04 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 199 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 49,193,861 shares. Additionally, 206 investors decreased positions by around 41,962,400 shares, while 67 investors held positions by with 708,607,177 shares. The mentioned changes placed institutional holdings at 799,763,438 shares, according to the latest SEC report filing. CNQ stock had 65 new institutional investments in for a total of 9,509,374 shares, while 41 institutional investors sold positions of 6,060,100 shares during the same period.