Canadian Natural Resources Limited [CNQ] Revenue clocked in at $30.00 billion, up 35.62% YTD: What’s Next?

Canadian Natural Resources Limited [NYSE: CNQ] gained 2.37% on the last trading session, reaching $56.11 price per share at the time. The company report on August 4, 2022 that Canadian Natural Resources Limited Announces 2022 Second Quarter Results.

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Calgary, Alberta–(Newsfile Corp. – August 4, 2022) – Canadian Natural’s (TSX: CNQ) (NYSE: CNQ) President, Tim McKay, commented on the Company’s second quarter 2022 results, “Our world class asset base is strategically balanced across commodity types so we can be flexible and capture opportunities throughout the commodity price cycle to maximize value for our shareholders. A substantial portion of our unique and diverse asset base consists of long life low decline assets which have significant, low risk, high value reserves that require lower maintenance capital than most other reserves, making Canadian Natural a truly robust and resilient energy company.

“Our culture of continuous improvement with a focus on cost control and safe, effective and efficient operations, and our disciplined approach to capital allocation continues to drive strong operating results. Total corporate production averaged approximately 1,211 MBOE‍/‍d in Q2/22, including record quarterly natural gas production of approximately 2.1 Bcf/d which has grown over 30% from Q2/21 levels. We completed turnarounds at our Oil Sands Mining and Upgrading assets in Q2/22, with both mines having returned to full production rates, capturing a strong Synthetic Crude Oil (“SCO”) price premium to WTI.

Canadian Natural Resources Limited represents 1.15 billion in outstanding shares, while the company has a total market value of $61.74 billion with the latest information. CNQ stock price has been found in the range of $55.28 to $56.875.

If compared to the average trading volume of 3.18M shares, CNQ reached a trading volume of 4431941 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 $69.79 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 2.20. 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.

Credit Suisse have made an estimate for Canadian Natural Resources Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 11, 2022. The new note on the price target was released on July 19, 2022, representing the official price target for Canadian Natural Resources Limited stock. On January 25, 2022, analysts decreased their price target for CNQ shares from 58 to 54.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 1.89, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 2.14, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for CNQ in the course of the last twelve months was 5.34 with Quick ratio for the last quarter at 0.60.

Trading performance analysis for CNQ stock

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 6.77. With this latest performance, CNQ shares gained by 4.67% in over the last four-week period, additionally sinking by -0.89% over the last 6 months – not to mention a rise of 68.43% 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 55.59, with the RSI for the last a single of trading hit 55.94, and the three-weeks RSI is set at 53.13 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 53.01, while it was recorded at 55.10 for the last single week of trading, and 54.80 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 0.90.

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 10.00%.

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

There are presently around $45,713 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 139,860,305, which is approximately 12.421% of the company’s market cap and around 3.30% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 105,474,045 shares of the stock with an approximate value of $5.92 billion in CNQ stocks shares; and FMR LLC, currently with $4.58 billion in CNQ stock with ownership of nearly -1.556% 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 204 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 53,137,928 shares. Additionally, 203 investors decreased positions by around 59,476,947 shares, while 84 investors held positions by with 702,085,899 shares. The mentioned changes placed institutional holdings at 814,700,774 shares, according to the latest SEC report filing. CNQ stock had 52 new institutional investments in for a total of 5,760,083 shares, while 40 institutional investors sold positions of 4,549,101 shares during the same period.


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