Canadian Natural Resources Ltd. (NYSE:CNQ) shares, rose in value, with the stock price up by 0.91% to the previous day’s close as strong demand from buyers drove the stock to $80.10.
Actively observing the price movement in the last trading, the stock closed the session at $79.38. The value of beta (5-year monthly) was 1.98 whereas the PE ratio was 14.46 over 12-month period. Referring to stock’s 52-week performance, its high was $79.72, and the low was $52.66. On the whole, CNQ has fluctuated by 12.33% over the past month.
With the market capitalization of Canadian Natural Resources Ltd. currently standing at about $85.78 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024. The company’s Forward Dividend Ratio is 2.86, with its dividend yield at 3.57%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.33, which is expected to increase to $1.53 for fiscal year $5.63 and then to about $6.9 by fiscal year 2025. Data indicates that the EPS growth is expected to be -1.40% in 2025, while the next year’s EPS growth is forecast to be 22.60%.
Analysts have estimated the company’s revenue for the quarter at $6.04 billion, with a low estimate of $5 billion and a high estimate of $6.66 billion. According to the average forecast, sales growth in current quarter could jump down -7.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $26.58 billion, representing an increase of 0.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CNQ’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CNQ currently trading nearly 7.78% and 17.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 81.14, while the 7-day volatility ratio is showing 1.70% which for the 30-day chart, stands at 1.64%. Furthermore, Canadian Natural Resources Ltd. (CNQ)’s beta value is 1.55, and its average true range (ATR) is 1.34.
A comparison of Canadian Natural Resources Ltd. (CNQ) with its peers suggests the former has fared considerably weaker in the market. CNQ showed an intraday change of 0.91% in last session, and over the past year, it grew by 35.37%%.
Data on historical trading for Canadian Natural Resources Ltd. (NYSE:CNQ) indicates that the trading volumes over the past 10 days have averaged 2.37 million and over the past 3 months, they’ve averaged 3.02 million. According to company’s latest data on outstanding shares, there are 1.07 billion shares outstanding.
Nearly 2.23% of Canadian Natural Resources Ltd.’s shares belong to company insiders and institutional investors own 76.79% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 32.63 million shares as on Mar 15, 2024, resulting in a short ratio of 33.71. According to the data, the short interest in Canadian Natural Resources Ltd. (CNQ) stood at 10.03% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 11.22 million. The stock has risen by 22.25% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CNQ stock heading into the next quarter.
