Canadian Natural Resources Ltd. (NYSE:CNQ) saw an upside of 1.90% to close Tuesday at $64.45 after adding $1.2 on the day. The 5-day average trading volume is 2,988,320 shares of the company’s common stock. It has gained $64.98 in the past week and touched a new high 2 times within the past 5 days. An average of 2,994,650 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,155,422.
CNQ’s 1-month performance is 5.81% or $3.54 on its low of $61.05 reached on 09/25/23. The company’s shares have touched a 52-week low of $44.45 and high of $66.18, with the stock’s rally to the 52-week high happening on 09/08/23. YTD, CNQ has achieved 16.06% or $8.92 and has reached a new high 18 times. However, the current price is down -2.61% from the 52-week high price.
Valuation Metrics
CNQ stock has a beta of 1.59. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.57 while the price-to-book (PB) in the most recent quarter is 2.41, with the price to cash flow ratio at 10.41.
Canadian Natural Resources Ltd.’s quick ratio for the period ended June 29 was 0.47, with the current ratio over the same period at 0.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.29, while the total debt to equity was 0.35.. In terms of profitability, the gross margin trailing 12 months is 29.23%. The trailing 12-month EBITDA margin is 52.94% while for the period ending June 29, Canadian Natural Resources Ltd.’s operating margin was 26.85%. The firm’s gross profit as reported stood at $18.16 billion against revenue of $32.54 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected CNQ to announce $0.78 per share in earnings in its latest quarter, but it posted $0.85, representing a 9.00% surprise. EBITDA for the quarter stood at more than $2.36 billion. CNQ stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 27.16 billion, with total debt at $13.68 billion.
Let’s look briefly at Canadian Natural Resources Ltd. (CNQ) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 58.08% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.91%.
The stock’s 5-day moving average is $62.77, reflecting a +0.88% or $0.56 change from its current price. CNQ is currently trading +3.30% above its 20-day SMA, +14.76% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +15.30% and SMA200 by+17.25%.
Stochastic %K and %D was 38.13% and 19.42% and the average true range (ATR) pointed at 1.51. The RSI (14) points at 57.33%, while the 14-day stochastic is at 66.28% with the period’s ATR at 1.44. The stock’s 9-day MACD Oscillator is pointing at -0.36 and -0.74 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Canadian Natural Resources Ltd. (NYSE: CNQ), UBS launched coverage with a Buy rating. Analysts offering their rating for CNQ stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CNQ as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 14 have offered a “buy” rating.
What is CNQ’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $60.23 and a high of $77.53, with their median price target at $69.56. Looking at these predictions, the average price target given by analysts is for Canadian Natural Resources Ltd. (CNQ) stock is $69.05.
