The stock of Canadian Natural Resources Limited (NYSE:CNQ) increased by $1.63 on Tuesday to finish at $64.02, up 2.61 percent. The last five days have seen an average of 2,027,100 shares of common stock traded. 13 times new highs were reached in the current year, with a gain of $8.49. The average number of shares traded over the last 20 days was 1,657,370, while the average volume over the last 50 days totaled 1,655,836.
CNQ stock appreciated 5.30% since last month. On 08/03/23, the company’s shares reached a one-month low of $58.25. The stock touched a high of $62.59 on 08/29/23, after rallying from a low of $44.45 in 52 weeks. The price of CNQ stock has risen by 15.29% or $8.49 this year, reaching a new high 13 times. Still, the stock price is up 2.28% from the 52-week high.
Valuation Metrics
Canadian Natural Resources Limited (CNQ) has a trailing price-to-earnings (P/E) ratio of 12.81. Beta for the stock is 1.59. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.55, the price-to-book (PB) ratio of 2.46, and the price-to-cash flow ratio of 12.25.
Company paid $0.6744 per share in dividends, an increase of 1.57% from $0.6640 last year.
Financial Health
For the three months ended June 29, Canadian Natural Resources Limited’s quick ratio was 0.50, while its current ratio was 0.70, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.29, and the total debt to equity ratio is 0.35. As far as profitability goes, gross margin for the trailing twelve months is 50.20% percent. Canadian Natural Resources Limited’s EBITDA margin for the year ended June 29 was 52.94%, whereas its operating margin stood at 26.70% for the same period. Based on annual data, it had gross profit of $18.16 billion and revenue of $32.54 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 10.00%. There was a 23.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 19.80%.
Earnings Surprise
According to Canadian Natural Resources Limited’s quarterly financial report for the quarter that ended June 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 $0.84, but it ended up being $0.78, beating the consensus by 7.70%. EBITDA was $2.36 billion for the quarter. At the end of Canadian Natural Resources Limited’s most recent quarter ended June 29, its liabilities totaled 27.16 billion, while its total debt was $13.68 billion.
Technical Picture
Here’s a quick look at Canadian Natural Resources Limited’s (CNQ) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 71.95%, suggesting the stock is Overbought, with a 20.71% historical volatility rate.
The stochastic %K and %D were 81.59% and 61.37% respectively, while the average true range (ATR) was 1.42. Based on the 14-day stochastic reading of 97.58%, the RSI (14) reading is 67.47%. On the 9-day MACD Oscillator, the stock is at 0.98, and the 14-day reading is at 1.16.
Analyst Ratings
In its analyst report released on July 12, 2023, UBS began covering Canadian Natural Resources Limited (NYSE: CNQ). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Canadian Natural Resources Limited (CNQ) an Overweight rating. CNQ is a stock that is recommended for selling by 0 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 14 others recommend it as a buy.
What is CNQ’s price target for the next 12 months?
The current consensus forecast for the stock is between $60.23 and $75.90, with a median target price of $68.00. In analyzing these forecasts, the average price target given by analysts for Canadian Natural Resources Limited (CNQ) is $67.90.
