Canadian Natural Resources Limited (NYSE: CNQ)’s stock price has decreased by -5.34 compared to its previous closing price of 53.58. Nevertheless, the company has seen a loss of -12.23% in its stock price over the last five trading days. Barron’s reported on 06/03/22 that 5 Stocks for $150 Oil
Is It Worth Investing in Canadian Natural Resources Limited (NYSE: CNQ) Right Now?
Canadian Natural Resources Limited (NYSE: CNQ) has a higher price-to-earnings ratio of 7.40x compared to its average ratio. compared to its average ratio and a 36-month beta value of 1.60. Analysts have mixed views on the stock, with 14 analysts rating it as a “buy,” 0 as “overweight,” 8 as “hold,” and 0 as “sell.”
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The public float for CNQ is 1.09B, and currently, short sellers hold a 2.48% ratio of that float. The average trading volume of CNQ on March 16, 2023 was 2.34M shares.
CNQ’s Market Performance
CNQ stock saw a decrease of -12.23% in the past week, with a monthly decline of -16.96% and a quarterly a decrease of -7.97%. The volatility ratio for the week is 4.50%, and the volatility levels for the last 30 days are 3.01% for Canadian Natural Resources Limited (CNQ). The simple moving average for the last 20 days is -11.33% for CNQ stock, with a simple moving average of -9.15% for the last 200 days.
Analysts’ Opinion of CNQ
Goldman, on the other hand, stated in their research note that they expect to see CNQ reach a price target of $69, previously predicting the price at $62. The rating they have provided for CNQ stocks is “Buy” according to the report published on November 21st, 2022.
CNQ Trading at -12.11% from the 50-Day Moving Average
After a stumble in the market that brought CNQ to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.64% of loss for the given period.
Volatility was left at 3.01%, however, over the last 30 days, the volatility rate increased by 4.50%, as shares sank -15.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.66% lower at present.
During the last 5 trading sessions, CNQ fell by -12.23%, which changed the moving average for the period of 200-days by -22.87% in comparison to the 20-day moving average, which settled at $56.72. In addition, Canadian Natural Resources Limited saw -8.66% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for CNQ
Equity return is now at value 29.70, with 14.60 for asset returns.
Conclusion
To put it simply, Canadian Natural Resources Limited (CNQ) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
