Canadian Natural Resources Limited [CNQ] Stock trading around $50.03 per share: What’s Next?

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Canadian Natural Resources Limited [NYSE: CNQ] closed the trading session at $50.03 on 07/19/22. The day’s price range saw the stock hit a low of $48.57, while the highest price level was $50.25. 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.

The stocks have a year to date performance of 18.41 percent and weekly performance of 4.40 percent. The stock has been moved at -3.68 percent over the last six months. The stock has performed -10.16 percent around the most recent 30 days and changed -25.54 percent over the most recent 3-months.

If compared to the average trading volume of 3.03M shares, CNQ reached to a volume of 5102432 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $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.

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 July 19, 2022. The new note on the price target was released on June 08, 2022, representing the official price target for Canadian Natural Resources Limited stock. Previously, the target price had yet another drop from $58 to $54, while Goldman kept a Neutral rating on CNQ stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 2.62, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 1.99, 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 6.14 with Quick ratio for the last quarter at 0.60.

CNQ stock trade performance evaluation

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 4.40. With this latest performance, CNQ shares dropped by -10.16% in over the last four-week period, additionally sinking by -3.68% over the last 6 months – not to mention a rise of 62.86% 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 42.36, with the RSI for the last a single of trading hit 46.62, and the three-weeks RSI is set at 41.53 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 58.10, while it was recorded at 48.06 for the last single week of trading, and 52.29 for the last 200 days.

Canadian Natural Resources Limited [CNQ]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Canadian Natural Resources Limited [CNQ] stock

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 Ownership positions

There are presently around $40,002 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 $5.65 billion in CNQ stocks shares; and FMR LLC, currently with $4.05 billion in CNQ stock with ownership of nearly 20.095% of the company’s market capitalization.

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 182 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 78,027,420 shares. Additionally, 231 investors decreased positions by around 58,966,064 shares, while 68 investors held positions by with 682,543,106 shares. The mentioned changes placed institutional holdings at 819,536,590 shares, according to the latest SEC report filing. CNQ stock had 67 new institutional investments in for a total of 18,660,346 shares, while 41 institutional investors sold positions of 7,460,011 shares during the same period.

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