Interested In Buying Canadian Natural Resources Limited (CNQ)? Make Sure You Read This First

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The stock of Canadian Natural Resources Limited (NYSE:CNQ) decreased by -$0.58 on Wednesday to $60.20, down -0.95 percent. The last five days have seen an average of 1,501,957 shares of common stock traded. 28 times new highs were reached in the current year, with a gain of $18.04. The average number of shares traded over the last 20 days was 1,777,494, while the average volume over the last 50 days totaled 2,323,458.

CNQ stock appreciated 3.67% since last month. On 11/21/22, the company’s shares reached a one-month low of $56.93. The stock touched a high of $69.14 on 04/21/22, after rallying from a low of $36.62 in 52 weeks. The price of CNQ stock has risen by 46.90% or $18.04 this year, reaching a new high 28 times. Still, the stock price is down -12.93% from the 52-week high.


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Valuation Metrics

Canadian Natural Resources Limited (CNQ) has a trailing price-to-earnings (P/E) ratio of 7.90. Beta for the stock is 1.58. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.16, the price-to-book (PB) ratio of 2.38, and the price-to-cash flow ratio of 6.07.

Company paid $0.6237 per share in dividends, an increase of 7.13% from $0.5822 last year. A $0.0415 dividend increase was reported on Friday November 4 2022.

Financial Health

For the three months ended September 29, Canadian Natural Resources Limited’s quick ratio was 0.60, while its current ratio was 0.80, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending September 29 is 0.34, and the total debt to equity ratio is 0.38. As far as profitability goes, gross margin for the trailing twelve months is 57.70% percent. Canadian Natural Resources Limited’s operating margin stood at 40.90% for the same period. Based on annual data, it had gross profit of $13.01 billion and revenue of $23.98 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CNQ’s return on assets (ROA) during the last 12 months has been 15.40%. There was a 14.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 31.30%.

Earnings Surprise

According to Canadian Natural Resources Limited’s quarterly financial report for the quarter that ended September 29. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Canadian Natural Resources Limited’s quarterly earnings would be $2.3, but it ended up being $2.13, beating the consensus by 8.00%. EBITDA was $4.59 billion for the quarter. At the end of Canadian Natural Resources Limited’s most recent quarter ended September 29, its liabilities totaled 30.14 billion, while its total debt was $14.48 billion.

Technical Picture

Here’s a quick look at Canadian Natural Resources Limited’s (CNQ) price momentum from a technical perspective. As of 22 November, the RSI 9-day stood at 52.06%, suggesting the stock is Neutral, with a 26.51% historical volatility rate.

The stochastic %K and %D were 57.39% and 48.41% respectively, while the average true range (ATR) was 1.79. Based on the 14-day stochastic reading of 59.57%, the RSI (14) reading is 54.90%. On the 9-day MACD Oscillator, the stock is at -0.52, and the 14-day reading is at -0.48.

Analyst Ratings

In its most recent analyst report, Goldman raised its rating on Canadian Natural Resources Limited (NYSE: CNQ) to a Buy. Prior to this, analysts firm rated the stock as a Neutral.

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