Canadian Natural Resources Ltd. [NYSE: CNQ] loss -2.19% or -1.43 points to close at $63.93 with a heavy trading volume of 3293672 shares. The company report on November 2, 2023 at 5:00 AM that Canadian Natural Resources Limited Announces Quarterly Dividend.
Calgary, Alberta–(Newsfile Corp. – November 2, 2023) – Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) announces that its Board of Directors has approved an 11% increase to its quarterly cash dividend on its common shares to C$1.00 (One dollar) per common share. The dividend will be payable on January 5, 2024 to shareholders of record at the close of business on December 8, 2023.
Canadian Natural’s growing and sustainable dividend demonstrates the confidence that the Board of Directors has in the sustainability of our business model, our strong balance sheet and the strength of our diverse, long life low decline reserves and asset base. With this increase announced today, the Company has increased its dividend by 18% in 2023 to $4.00 per share annually. As a result, the Company’s leading track record of dividend increases continues, as this increase will mark 2024 as the 24th consecutive year of dividend increases, with a CAGR of 21% over that time.
It opened the trading session at $64.49, the shares rose to $64.65 and dropped to $62.82, the range by which the price of stock traded the whole day. The daily chart for CNQ points out that the company has recorded 14.00% gains over the past six months. However, it is still -30.98% lower than its most recent low trading price.
If we look at the average trading volume of 2.96M shares, CNQ reached to a volume of 3293672 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 Ltd. [CNQ]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNQ shares is $72.57 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 1.78. 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.
UBS have made an estimate for Canadian Natural Resources Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 12, 2023.
The Average True Range (ATR) for Canadian Natural Resources Ltd. is set at 1.72, with the Price to Sales ratio for CNQ stock in the period of the last 12 months amounting to 2.59. The Price to Book ratio for the last quarter was 2.37, with the Price to Cash per share for the same quarter was set at 0.47. Price to Free Cash Flow for CNQ in the course of the last twelve months was 14.30 with Quick ratio for the last quarter at 0.65.
Trading performance analysis for CNQ stock
Canadian Natural Resources Ltd. [CNQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.60. With this latest performance, CNQ shares dropped by -4.43% in over the last four-week period, additionally plugging by 14.00% over the last 6 months – not to mention a rise of 2.55% 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 47.09, with the RSI for the last a single of trading hit 44.95, and the three-weeks RSI is set at 48.60 for Canadian Natural Resources Ltd. [CNQ]. The present Moving Average for the last 50 days of trading for this stock 64.47, while it was recorded at 65.07 for the last single week of trading, and 59.44 for the last 200 days.
Canadian Natural Resources Ltd. [CNQ]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Canadian Natural Resources Ltd. [CNQ] shares currently have an operating margin of +34.90 and a Gross Margin at +37.78. Canadian Natural Resources Ltd.’s Net Margin is presently recorded at +25.86.
Return on Total Capital for CNQ is now 28.28, given the latest momentum, and Return on Invested Capital for the company is 21.33. Return on Equity for this stock inclined to 29.12, with Return on Assets sitting at 14.31. When it comes to the capital structure of this company, Canadian Natural Resources Ltd. [CNQ] has a Total Debt to Total Equity ratio set at 34.01. Additionally, CNQ Total Debt to Total Capital is recorded at 25.38, with Total Debt to Total Assets ending up at 17.05. Long-Term Debt to Equity for the company is recorded at 32.32, with the Long-Term Debt to Total Capital now at 24.11.
Receivables Turnover for the company is 12.69 with a Total Asset Turnover recorded at a value of 0.55.Canadian Natural Resources Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.65 and a Current Ratio set at 0.91.
Canadian Natural Resources Ltd. [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 Ltd. go to -0.74%.
An analysis of Institutional ownership at Canadian Natural Resources Ltd. [CNQ]
The top three institutional holders of CNQ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CNQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CNQ stock with ownership which is approximately 5.7994%.