As of Friday close, Canadian Natural Resources Limited’s (NYSE:CNQ) stock traded at $61.65. The average number of shares traded per day over the past five days has been 2,599,980 shares. 2 times new highs have been achieved over the past 5 days, with a -$2.63 fall in that time frame. In the last twenty days, the average volume was 2,898,025, while in the previous 50 days, it was 2,099,472.
Since last month, CNQ stock rose 1.02%. Shares of the company fell to $59.79 on 08/25/23, the lowest level in the past month. A 52-week high of $66.18 was reached on 09/08/23 after having rallying from a 52-week low of $44.45. Since the beginning of this year, CNQ’s stock price has risen by 11.02% or $6.12, and marked a new high 18 times. However, the stock has declined by -6.84% since its 52-week high.
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Valuation Metrics
Right now, Canadian Natural Resources Limited (CNQ) has a P/E ratio of about 12.27. The stock’s beta is 1.59. Besides these, the trailing price-to-sales (P/S) ratio of 2.49, the price-to-book (PB) ratio of 2.36, and the price-to-cash flow ratio of 11.93 may also be considered.
The latest dividend of $0.6744 per share was paid out, which is 1.57% more than last year’s $0.6640. On Wednesday August 2 2023, a $0.0104 dividend increase was announced.
Financial Health
In the three months ended June 29, Canadian Natural Resources Limited’s quick ratio stood at 0.50, while its current ratio was 0.70, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.29, and the total debt-to-equity ratio was 0.35. On the profitability front, the trailing twelve-month gross margin is 50.20% percent. In the year ended June 29, EBITDA margin amounted to 52.94%, whereas operating margins totaled 26.70%. Based on annual data, CNQ earned $18.16 billion in gross profit and brought in $32.54 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 23.40%. Return on equity (ROE) for the past 12 months was 19.80%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Canadian Natural Resources Limited to report $0.78 quarterly earnings, the actual figure was $0.85 per share, beating the consensus estimate by 9.00%. During the quarter, the company generated $2.36 billion in EBITDA. The liabilities of Canadian Natural Resources Limited were 27.16 billion at the end of its most recent quarter ended June 29, and its total debt was $13.68 billion.
Technical Picture
This quick technical analysis looks at Canadian Natural Resources Limited’s (CNQ) price momentum. With a historical volatility rate of 18.80%, the RSI 9-day stood at 33.52% on 22 September.
With respect to its five-day moving average, the current Canadian Natural Resources Limited price is down by -4.09% percent or -$2.63. At present, CNQ shares trade +2.65% above its 20-day simple moving average and +2.32% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.19% above its SMA50 and +7.91% above its SMA200.
Stochastic coefficient K was 3.06% and Stochastic coefficient D was 13.44%, while ATR was 1.29. Given the Stochastic reading of 5.23% for the 14-day period, the RSI (14) reading has been calculated as 42.43%. As of today, the MACD Oscillator reading stands at -1.58, while the 14-day reading stands at -2.02.
Analyst Ratings
UBS launched its rating on Canadian Natural Resources Limited (NYSE: CNQ) to a Buy in a note to investors on July 12, 2023. Canadian Natural Resources Limited (CNQ) has been rated Overweight by analysts. According to 0 brokerage firms, CNQ is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Canadian Natural Resources Limited stock as buy, with 14 recommending it as overweight.
With a median target price of $69.56, the current consensus forecast for the stock is $60.23 – $77.53. Based on these forecasts, analysts predict Canadian Natural Resources Limited (CNQ) will achieve an average price target of $68.94.
