Canadian Natural Resources Limited [CNQ] Is Currently 2.42 below its 200 Period Moving Avg: What Does This Mean?

Canadian Natural Resources Limited [NYSE: CNQ] price surged by 2.42 percent to reach at $1.34. 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.

A sum of 3369675 shares traded at recent session while its average daily volume was at 2.69M shares. Canadian Natural Resources Limited shares reached a high of $57.70 and dropped to a low of $55.95 until finishing in the latest session at $56.67.

The one-year CNQ stock forecast points to a potential upside of 19.64. The average equity rating for CNQ stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $70.52 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.

Jefferies have made an estimate for Canadian Natural Resources Limited shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on August 11, 2022, representing the official price target for Canadian Natural Resources Limited stock. Previously, the target price had yet another raise to $100, while BofA Securities analysts kept a Buy rating on CNQ stock.

The Average True Range (ATR) for Canadian Natural Resources Limited is set at 2.28, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 0.38. 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.

CNQ Stock Performance Analysis:

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 3.73. With this latest performance, CNQ shares gained by 9.63% in over the last four-week period, additionally sinking by -12.52% over the last 6 months – not to mention a rise of 35.18% 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 61.74, with the RSI for the last a single of trading hit 67.13, and the three-weeks RSI is set at 57.91 for Canadian Natural Resources Limited [CNQ]. The present Moving Average for the last 50 days of trading for this stock 53.49, while it was recorded at 54.33 for the last single week of trading, and 56.19 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 0.90.

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 9.55%.

Canadian Natural Resources Limited [CNQ] Insider Position Details

There are presently around $46,275 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 $5.98 billion in CNQ stocks shares; and FMR LLC, currently with $4.63 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 November and at the time of the November reporting period, where 208 institutional holders increased their position in Canadian Natural Resources Limited [NYSE:CNQ] by around 55,146,375 shares. Additionally, 202 investors decreased positions by around 57,904,366 shares, while 80 investors held positions by with 703,521,148 shares. The mentioned changes placed institutional holdings at 816,571,889 shares, according to the latest SEC report filing. CNQ stock had 56 new institutional investments in for a total of 6,651,783 shares, while 42 institutional investors sold positions of 4,558,011 shares during the same period.

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