Canadian Natural Resources Ltd. (NYSE:CNQ) has a beta value of 1.53 and has seen 1.12 million shares traded in the recent trading session. The company, currently valued at $75.86B, closed the recent trade at $35.74 per share which meant it lost -$1.27 on the day or -3.43% during that session. The CNQ stock price is -15.53% off its 52-week high price of $41.29 and 17.6% above the 52-week low of $29.45. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.76 million shares traded. The 3-month trading volume is 5.23 million shares.
The consensus among analysts is that Canadian Natural Resources Ltd. (CNQ) is Buy stock at the moment, with a recommendation rating of 1.96. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 9 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.67.
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Canadian Natural Resources Ltd. (NYSE:CNQ) trade information
Sporting -3.43% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CNQ stock price touched $35.74 or saw a rise of 5.72%. Year-to-date, Canadian Natural Resources Ltd. shares have moved 9.10%, while the 5-day performance has seen it change -1.71%. Over the past 30 days, the shares of Canadian Natural Resources Ltd. (NYSE:CNQ) have changed 10.55%. Short interest in the company has seen 50.78 million shares shorted with days to cover at 38.47.
Wall Street analysts have a consensus price target for the stock at $52.92, which means that the shares’ value could jump 32.46% from the levels at last check today. The projected low price target is $44.56186168 while the price target rests at a high of $63.6598024. In that case, then, we find that the latest price level in today’s session is -78.12% off the targeted high while a plunge would see the stock gain -24.68% from the levels at last check today.
Canadian Natural Resources Ltd. (CNQ) estimates and forecasts
Figures show that Canadian Natural Resources Ltd. shares have outperformed across the wider relevant industry. The company’s shares have lost -7.64% over the past 6 months, with this year growth rate of -15.33%, compared to -22.50% for the industry. Revenue growth from the last financial year stood is estimated to be -1.70%.
3 analysts offering their estimates for the company have set an average revenue estimate of 6.58B for the current quarter. 3 have an estimated revenue figure of 6.3B for the next ending quarter. Year-ago sales stood 6.85B and 7.01B respectively for this quarter and the next, and analysts expect sales will shrink by -4.00% for the current quarter and -1.70% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 27.79% over the past 5 years. Earnings growth for 2024 is a modest -11.64% while over the next 5 years, the company’s earnings are expected to increase by 4.00%.
CNQ Dividends
Canadian Natural Resources Ltd. is expected to release its next earnings report on 2024-Oct-31 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.53 at a share yield of 4.27%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 4.44%.
Canadian Natural Resources Ltd. (NYSE:CNQ)’s Major holders
Insiders own 4.26% of the company shares, while shares held by institutions stand at 77.88% with a share float percentage of 81.35%. Investors are also buoyed by the number of investors in a company, with Canadian Natural Resources Ltd. having a total of 888.0 institutions that hold shares in the company. The top two institutional holders are CAPITAL WORLD INVESTORS with over 290.59 million shares worth more than $10.35 billion. As of 2024-06-30, CAPITAL WORLD INVESTORS held 13.566% of shares outstanding.
The other major institutional holder is ROYAL BANK OF CANADA, with the holding of over 114.83 million shares as of 2024-06-30. The firm’s total holdings are worth over $4.09 billion and represent 5.3604% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are American Balanced Fund and Europacific Growth Fund. As of Jun 30, 2024, the former fund manager holds about 2.78% shares in the company for having 58.68 shares of worth $2.11 billion while later fund manager owns 43.03 shares of worth $1.55 billion as of Jun 30, 2024, which makes it owner of about 2.04% of company’s outstanding stock.
