Canadian Natural Resources Ltd (NYSE:CNQ) price on current trading day, fall -0.73% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $28.64.
A look at the stock’s price movement, the close in the last trading session was $28.85. The PE ratio in trailing twelve months stood at 11.08. Turning to its 52-week performance, $41.29 and $28.53 were the 52-week high and 52-week low respectively. Overall, CNQ moved -7.52% over the past month.
Canadian Natural Resources Ltd’s market cap currently stands at around $60.43 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 1.55, with its dividend yield at 5.43%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 9.27B for the company’s revenue for the quarter, with a low and high estimate of 8.79B and 9.57B respectively. The average forecast suggests down to a -2.99% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 35.42B, representing a -1.53% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CNQ is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 5 recommend CNQ as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CNQ’s current price about -5.43% and -6.91% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 33.03, while 7-day volatility ratio is 2.55% and 2.75% in the 30-day chart. Further, Canadian Natural Resources Ltd (CNQ) has a beta value of 1.50, and an average true range (ATR) of 0.78. Analysts have given the company’s stock an average 52-week price target of $52.917210745, forecast between a low of $44.56186168 and high of $63.6598024. Looking at the price targets, the low is -55.59% off current price level while to achieve the yearly target high, price needs to move -122.28%. Nonetheless, investors will most likely welcome a -84.77% jump to $52.917210745 which is the analysts’ median price.
If we refocus on Canadian Natural Resources Ltd (NYSE:CNQ), historical trading data shows that trading volumes averaged 5.60 million over the past 3 months. The company’s latest data on shares outstanding shows there are 2.11 billion shares.
The 2.28% of Canadian Natural Resources Ltd’s shares are in the hands of company insiders while institutional holders own 70.15% of the company’s shares. Current price change has pushed the stock -7.22% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CNQ stock continues to rise going into the next quarter.
