Canadian Natural Resources Limited [CNQ] Stock trading around $50.77 per share: What’s Next?
Canadian Natural Resources Limited [NYSE: CNQ] Its price declined by -0.92 points on Thursday, while share prices fell at $50.77 at the close of the session, down -1.78%. Company report on August 4, 2022 Canadian Natural Resources Limited announces the results of the second quarter of 2022.
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Calgary, Alberta – (Newsfile Corp. – August 4, 2022) – Canadian Natural’s (TSX:CNQ) (NYSE:CNQ) President Tim McKay commented on the company’s second-quarter 2022 results, “Our world-class asset base is strategically balanced. Across commodity types so we can be flexible and seize opportunities throughout the commodity price cycle to maximize value for our shareholders.A large portion of our unique and diversified asset base consists of long-term, low-risk assets with large, low-risk, high-value reserves that require less maintenance capital than most other reserves, This makes Canadian Natural a truly robust and resilient energy company.
“Our culture of continuous improvement with an emphasis on cost control, safe, efficient and effective operations, and our disciplined approach to capital allocation continues to deliver strong operating results. Total corporate production averaged approximately 1,211 boe/boep per day in the second quarter of 2222, including record quarterly natural gas production of 2.1 billion cubic feet/day which grew more than 30% from Q2/21 levels. We completed the transformation of our oil sands mining and upgrading assets in Q222 , as both mines returned to full production rates, and we got a solid price premium for Synthetic Crude Oil (“SCO”) over WTI.
Canadian Natural Resources Limited stock is now 22.71% higher than its trade value YTD (YTD). CNQ stock saw an intraday high of $52.79 and a low of $50.74 per share. The company’s 52-week high is 69.14, which means the current price is +19.97% above the all-time high touched on 04/21/22.
Compared to an average trading volume of 3.05 million shares, CNQ reached a trading volume of 2,649,870 on the last trading day, which is why market watchers consider the stock to be active.
What Top Market Experts Say About Canadian Natural Resources Limited [CNQ]?
Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on CNQ’s stock price target is $74.65 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for CNQ stock is a set recommendation at 2.30. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
Credit Suisse has made an appreciation for Canadian Natural Resources Limited shares, maintaining their opinion of the stock as Neutral, with their previous recommendation back on August 11, 2022. The new note on price target was issued on July 19, 2022, which is the official share price target for Canadian Natural Resources Limited’s stock. . On January 25, 2022, analysts lowered their price target for CNQ shares from 58 to 54.
Canadian Natural Resources Limited’s Average True Range (ATR) is set at 1.91, with the CNQ stock’s price-to-sales ratio for the past 12 months at 1.94. The price-to-book ratio for the last quarter was 1.96, with the price-to-cash ratio for the stock in the same quarter set at 0.40. CNQ’s free cash flow rate for the past 12 months was 5.04 with a Q4 quick ratio of 0.60.
How has CNQ’s stock been performing lately?
Canadian Natural Resources Limited [CNQ] It fell into the red at the end of last week, fell in a negative direction and fell by -6.16. With this latest performance, CNQ shares are down -9.55% over the past four-week period, as well as -18.03% over the past six months – not to mention a 53.07% rise in the past year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for the CNQ stock for the past two weeks was set at 38.68, with the RSI for the last one trading at 31.69, and the three-week RSI set at 41.67 for Canadian Natural Resources Limited [CNQ]. The current moving average for the last 50 trading days for this stock is 53.52 while it recorded at 52.70 for the last trading week, and 55.16 for the last 200 days.
Canadian Natural Resources Limited [CNQ]: A deeper look into the basics
Operating margin for any stock indicates how profitable the investment is, Canadian Natural Resources Limited [CNQ] The current equity operating margin is +31.65 and the total margin is +34.57. Canadian Natural Resources Limited net margin is currently recorded at +25.50.
The return on equity for this stock rose to 22.11, with the return on assets remaining at 10.09.
Canadian Natural Resources Limited’s liquidity data is also interesting, with the quick ratio at 0.60 and the current ratio at 0.90.
Canadian Natural Resources Limited Earnings Analysis [CNQ]
The company’s progress can be seen through the perspective of the EPS growth rate, while Wall Street analysts focus on forecasting the 5-year EPS growth rate for CNQ. When it comes to the stated value, analysts expect Canadian Natural Resources Limited’s 5-year EPS growth rate to rise to 10.00%.
Inside Commercial Parking for Canadian Natural Resources Limited [CNQ]
There are currently approximately $41,362 million, or 66.60% of CNQ’s equity, in the hands of institutional investors. The three largest institutional owners of CNQ shares are: Capital WORLD INVESTORS with ownership of 139,860,305, which represents about 12.421% of the company’s market capitalization and about 3.30% of the total institutional ownership; Global Investors Capital Research, who own 105,474,045 shares with an approximate value of $5.35 billion in CNQ stock; and FMR LLC, currently worth $4.15 billion in CNQ stock with ownership of approximately 1.566% of the company’s market capitalization.
Positions in Canadian Natural Resources Limited stocks held by institutional investors increased at the end of August and at the time of the August report, as 204 institutional owners strengthened their position in Canadian Natural Resources Limited [NYSE:CNQ] About 53,137,928 shares. In addition, 203 investors decreased positions by 59,476,947 shares, while 84 investors held positions with 702,085,899 shares. The said changes put institutional holdings at 814,770,774 shares, according to the latest report from the Securities and Exchange Commission. CNQ had 52 new institutional investments with a total of 5,760,083 shares, while 40 institutional investors sold positions of 4,549,101 shares during the same period.