Canadian Natural Resources Limited (NYSE:CNQ) finished Friday with an addition of $0.85 to close at $60.91, an upside of 1.42 percent. An average of 1,704,180 shares of common stock have been traded in the last five days. There was a fall of -$0.66 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 1,571,885 shares traded, while the 50-day average volume stands at 1,680,376.
CNQ stock has increased by 2.89% in the last month. The company shares reached their 1-month lowest point of $58.25 on 08/03/23. With the stock rallying to its 52-week high on 04/14/23, shares of the company touched a low of $44.45 and a high of $62.57 in 52 weeks. It has reached a new high 11 times so far this year and achieved 9.69% or $5.38 in price. In spite of this, the price is down -2.65% 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 12.16. The stock’s beta is 1.59. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.41, the price-to-book (PB) ratio at 2.34, and the price-to-cash flow ratio at 11.55.
The company has a payout ratio of 67.10%. The company’s most recent quarterly dividend payment was $0.6744 a share, representing a up of 1.57% from $0.6640 last year.
Financial Health
The quick ratio of Canadian Natural Resources Limited for the three months ended June 29 was 0.50, and the current ratio was 0.70, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.35 for the quarter ending June 29. Canadian Natural Resources Limited’s EBITDA margin for the year ending June 29 is 52.94%, while its operating margin for the same period stands at 26.70%. Its gross profit as reported stood at $18.16 billion compared to revenue of $32.54 billion.
Earnings Surprise
The analyst consensus anticipated Canadian Natural Resources Limited’s latest quarter earnings to come in at $0.78 per share, but it turned out to be $0.84, a 7.70% surprise. For the quarter, EBITDA amounted to $2.36 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Canadian Natural Resources Limited (CNQ) price momentum. RSI 9-day as of the close on 25 August was 53.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 23.34%.
As of today, CNQ’s price is $60.95 -1.07% or -$0.66 from its 5-day moving average. CNQ is currently trading +0.79% higher than its 20-day SMA and +2.94% higher than its 100-day SMA. However, the stock’s current price level is +9.83% above the SMA50 and -0.44% below the SMA200.
The stochastic %K and %D were 45.37% and 56.58%, respectively, and the average true range (ATR) was 1.28. With the 14-day stochastic at 53.82% and the average true range at 1.31, the RSI (14) stands at 54.87%. The stock has reached -0.03 on the 9-day MACD Oscillator while the 14-day reading was at -0.31.
Analyst Ratings
UBS launched coverage on Canadian Natural Resources Limited (NYSE: CNQ) in its analyst report released on July 12, 2023. The firm assigned the stock a Buy rating. The consensus rating for Canadian Natural Resources Limited (CNQ) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CNQ, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 14 others rate it as a “buy”.
What is CNQ’s price target for the next 12 months?
Analysts predict a range of price targets between $60.23 and $75.90, with a median target of $67.33. Taking a look at these predictions, the average price target given by analysts for Canadian Natural Resources Limited (CNQ) stock is $67.58.
