Canadian Natural Resources Ltd. (NYSE:CNQ) does about 2.95M shares in volume on a normal day but saw 2023857 shares change hands in Monday trading. The company now has a market cap of 81.17B USD. Its current market price is $75.80, marking an increase of 2.29% compared to the previous close of $74.10. The 52 week high reached by this stock is $74.52 whilst the lowest price level in 52 weeks is $50.08.
Canadian Natural Resources Ltd. (CNQ) has a 20-day trading average at $72.04 and the current price is 1.72% off the 52-week high compared with 51.36% distance from its 52-week low. The 50-day simple moving average of the closing price is $66.53 and its 200-day simple moving average is $63.33. If we look at the stock’s price movements over the week, volatility stands at 1.46%, which increases to 1.94% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 74.52 to suggest the stock is overbought.
The consensus objective for the share price is $76.50, suggesting that the stock has a potential upside of 0.92% over the period.
Goldman upgraded its price target at $62-$69.
Canadian Natural Resources Ltd. (CNQ) stock is up 3.26% over the week and 16.04% over the past month. Its price is 15.69% year-to-date and 47.18% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of $1.72 above consensus estimates by $0.13. CNQ’s earnings per share are forecast to shrink by -0.50% this year and 23.20% over next year. Expected sales for next quarter are $5.81 billion, which analysts say will come at $27.09 billion for the current fiscal year and next year at $30.08 billion. In addition, estimates put the company’s current quarterly revenue at an average of $5.94 billion.
To reach the target analysts have set, the stock logically needs to grow 0.92 percent from here.
Outstanding shares total 1.07B with insiders holding 2.21% of the shares and institutional holders owning 79.30% of the company’s common stock. The company has a return on investment of 15.79% and return on equity of 20.88%. The price to earnings ratio (P/E ratio) amounts to 13.69 while the forward price to earnings ratio is 11.10. The beta has a value of 1.55. Price to book ratio is 2.69 and price to sales ratio is 3.05.
