Canadian Natural Resources Limited [CNQ] gain 13.42% so far this year. What now?


Canadian Natural Resources Limited [NYSE: CNQ] loss -2.20% or -1.08 points to close at $47.92 with a heavy trading volume of 3978414 shares. 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.

It opened the trading session at $47.80, the shares rose to $48.455 and dropped to $46.99, the range by which the price of stock traded the whole day. The daily chart for CNQ points out that the company has recorded 1.33% gains over the past six months. However, it is still -62.28% lower than its most recent low trading price.

If we look at the average trading volume of 2.95M shares, CNQ reached to a volume of 3978414 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $67.75 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 2.10. 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.

Scotiabank have made an estimate for Canadian Natural Resources Limited shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on June 08, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $58 to $54. The new note on the price target was released on January 25, 2022, representing the official price target for Canadian Natural Resources Limited stock. Previously, the target price had yet another raise to $54, while BofA Securities analysts kept a Buy rating on CNQ stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 2.75, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.15. The Price to Book ratio for the last quarter was 1.88, 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 5.90 with Quick ratio for the last quarter at 0.60.

Trading performance analysis for CNQ stock

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 -6.64. With this latest performance, CNQ shares dropped by -28.10% in over the last four-week period, additionally plugging by 1.33% over the last 6 months – not to mention a rise of 34.83% 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 33.33, with the RSI for the last a single of trading hit 31.09, and the three-weeks RSI is set at 35.61 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 59.62, while it was recorded at 48.88 for the last single week of trading, and 51.99 for the last 200 days.

Canadian Natural Resources Limited [CNQ]: A deeper dive into fundamental analysis

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.

Canadian Natural Resources Limited [CNQ]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Canadian Natural Resources Limited [CNQ]

There are presently around $40,167 million, or 66.60% of CNQ stock, in the hands of institutional investors. The top three institutional holders of CNQ stocks are: CAPITAL WORLD INVESTORS with ownership of 124,407,484, which is approximately 25.442% of the company’s market cap and around 3.30% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 115,678,563 shares of the stock with an approximate value of $5.67 billion in CNQ stocks shares; and FMR LLC, currently with $4.06 billion in CNQ stock with ownership of nearly 20.095% of the company’s market capitalization.

181 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 78,211,619 shares. Additionally, 232 investors decreased positions by around 59,379,877 shares, while 65 investors held positions by with 682,151,167 shares. The mentioned changes placed institutional holdings at 819,742,663 shares, according to the latest SEC report filing. CNQ stock had 68 new institutional investments in for a total of 18,667,110 shares, while 41 institutional investors sold positions of 7,602,845 shares during the same period.