Canadian Natural Resources Ltd. [CNQ] stock prices are up 2.58% to $73.92 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The CNQ shares have gain 2.84% over the last week, with a monthly amount glided 21.10%, and seem to be holding up well over a long-time horizon.
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On 8, March 2024, Canadian Natural Resources Limited Announces Normal Course Issuer Bid. In a post published today on Yahoo Finance, Calgary, Alberta–(Newsfile Corp. – March 8, 2024) – Canadian Natural Resources Limited (TSX: CNQ) (NYSE: CNQ) (“Canadian Natural”) announced today that the Toronto Stock Exchange (“TSX”) has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid (“NCIB”) through the facilities of the TSX or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange.
From an analyst’s perspective:
On November 21, 2022, upgrade upgraded it’s rating to Buy and revised its price target to $69 on the stock. Jefferies started tracking the stock assigning a Hold rating. BofA Securities upgraded its rating to Buy for this stock on July 19, 2022, but kept the price target unchanged to $100. In a note dated June 08, 2022, Scotiabank downgraded an Sector Perform rating on this stock.
The stock price of Canadian Natural Resources Ltd. [CNQ] has been fluctuating between $48.81 and $73.19 over the past year. Currently, Wall Street analysts expect the stock to reach $53.45 within the next 12 months. Canadian Natural Resources Ltd. [NYSE: CNQ] shares were valued at $73.92 at the most recent close of the market. An investor can expect a potential drop of -27.69% based on the average CNQ price forecast.
Analyzing the CNQ fundamentals
The Canadian Natural Resources Ltd. [NYSE:CNQ] reported sales of 26.65B for trailing twelve months, representing a drop of -1.72%. Gross Profit Margin for this corporation currently stands at 0.29% with Operating Profit Margin at 0.26%, Pretax Profit Margin comes in at 0.26%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.11, Equity is 0.21 and Total Capital is 0.15. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.28.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 72.91 points at the first support level, and at 71.89 for the second support level. However, for the 1st resistance point, the stock is sitting at 74.57, and for the 2nd resistance point, it is at 75.21.
Canadian Natural Resources Ltd. [CNQ] reported earnings per share of $1.74 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.6/share, meaning a difference of $0.14 and a surprise factor of 8.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.92 per share as compared to estimates of $1.75 per share, a difference of $0.17 representing a surprise of 9.70%.
Ratios To Look Out For
It’s worth pointing out that Canadian Natural Resources Ltd. [NYSE:CNQ]’s Current Ratio is 0.96. On the other hand, the Quick Ratio is 0.69, and the Cash Ratio is 0.12. Considering the valuation of this stock, the price to sales ratio is 2.97, the price to book ratio is 2.62 and price to earnings (TTM) ratio is 13.35.
