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An Overview Of Canadian Natural Resources Limited (NYSE: CNQ)

In the latest trading session, 0.95 million Canadian Natural Resources Limited (NYSE:CNQ) shares changed hands as the company’s beta touched 1.91. With the company’s most recent per share price at $35.27 changing hands around $1.25 or 3.67% at last look, the market valuation stands at $40.52B. CNQ’s current price is a discount, trading about -8.02% off its 52-week high of $38.10. The share price had its 52-week low at $14.85, which suggests the last value was 57.9% up since then. When we look at Canadian Natural Resources Limited’s average trading volume, we note the 10-day average is 2.17 million shares, with the 3-month average coming to 2.87 million.

Analysts gave the Canadian Natural Resources Limited (CNQ) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 0 out of 21 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 4 recommended CNQ as a Hold, 15 felt it is a Buy and 0 rated the stock as Underweight. Canadian Natural Resources Limited’s EPS for the current quarter is expected to be $0.49.


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Canadian Natural Resources Limited (NYSE:CNQ) trade information

Instantly CNQ is in green as seen in intraday trades today. With action -0.87%, the performance over the past five days has been red. The jump to weekly highs of 35.57 on Tuesday, 09/14/21 added 3.67% to the stock’s daily price. The company’s shares are showing year-to-date upside of 41.46%, with the 5-day performance at -0.87% in the red. However, in the 30-day time frame, Canadian Natural Resources Limited (NYSE:CNQ) is 3.12% up. Looking at the short shares, we see there were 7.67 million shares sold at short interest cover period of 3.49 days.

The consensus price target for the stock as assigned by Wall Street analysts is $43.96, meaning bulls need an upside of 19.77% from its recent market value. According to analyst projections, CNQ’s forecast low is $35.26 with $62.32 as the target high. To hit the forecast high, the stock’s price needs a -76.69% plunge from its current level, while the stock would need to tank 0.03% for it to hit the projected low.

Canadian Natural Resources Limited (CNQ) estimates and forecasts

Data shows that the Canadian Natural Resources Limited share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 9.39% over the past 6 months, a 1,066.67% in annual growth rate that is considerably higher than the industry average of -21.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Canadian Natural Resources Limited will rise 145.00%, while the growth in revenue is estimated to hit 108.70% for the next quarter. Year-over-year growth is forecast to reach 21.50% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $3.97 billion. 5 analysts are of the opinion that Canadian Natural Resources Limited’s revenue for the quarter ending Jun 2018 will be $3.92 billion. The company’s revenue for the corresponding quarters a year ago was $2.87 billion and $2.92 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 38.40%. The estimates for the next quarter sales put growth at 34.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.80%. The 2021 estimates are for Canadian Natural Resources Limited earnings to decrease by -108.10%, but the outlook for the next 5-year period is at 3.90% per year.

CNQ Dividends

Canadian Natural Resources Limited is expected to release its next quarterly earnings report between November 03 and November 08. The 4.47% annual yield figure for the share gives it an annual dividend of 1.52. It is important to note, however, that the 4.47% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 3.80 per year.

Canadian Natural Resources Limited (NYSE:CNQ)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.16% of Canadian Natural Resources Limited shares while 76.58% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 78.27%. There are 76.58% institutions holding the Canadian Natural Resources Limited stock share, with Capital Research Global Investors the top institutional holder. As of Mar 30, 2021, the company held 11.97% of the shares, roughly 141.78 million CNQ shares worth $4.38 billion.

Capital World Investors holds the second largest percentage of outstanding shares, with 6.57% or 77.81 million shares worth $2.4 billion as of Mar 30, 2021.

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Among Mutual Funds, the top two as of Mar 30, 2021 were Europacific Growth Fund and American Balanced Fund. With 71.34 million shares estimated at $2.2 billion under it, the former controlled 6.02% of total outstanding shares. On the other hand, American Balanced Fund held about 2.16% of the shares, roughly 25.59 million shares worth around $789.95 million.

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