Canadian Natural Resources Ltd. (NYSE: CNQ)’s stock price has plunge by -2.93relation to previous closing price of 81.62. Nevertheless, the company has seen a -2.40% plunge in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-06 that Canadian Natural Resources has achieved its net debt target, allowing the company to return more cash to its owners. Oil prices have risen considerably in recent months, benefiting Canadian Natural Resources and other oil producers. The start-up of the Trans Mountain pipeline will have a positive impact on Canadian oil prices, benefiting Canadian Natural Resources.
Is It Worth Investing in Canadian Natural Resources Ltd. (NYSE: CNQ) Right Now?
Canadian Natural Resources Ltd. (NYSE: CNQ) has a higher price-to-earnings ratio of 14.30x compared to its average ratio, The 36-month beta value for CNQ is at 1.54. Analysts have varying views on the stock, with 8 analysts rating it as a “buy,” 5 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for CNQ is 1.05B, and currently, shorts hold a 10.26% of that float. The average trading volume for CNQ on April 15, 2024 was 3.27M shares.
CNQ’s Market Performance
CNQ stock saw an increase of -2.40% in the past week, with a monthly gain of 7.18% and a quarterly increase of 21.84%. The volatility ratio for the week is 2.69%, and the volatility levels for the last 30 days are 1.89% for Canadian Natural Resources Ltd. (CNQ). The simple moving average for the last 20 days is 2.87% for CNQ stock, with a simple moving average of 22.31% for the last 200 days.
Analysts’ Opinion of CNQ
Goldman gave a rating of “Buy” to CNQ, setting the target price at $69 in the report published on November 21st of the previous year.
CNQ Trading at 12.77% 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 -4.06% of loss for the given period.
Volatility was left at 1.89%, however, over the last 30 days, the volatility rate increased by 2.69%, as shares surge +7.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.82% upper at present.
During the last 5 trading sessions, CNQ fell by -2.40%, which changed the moving average for the period of 200-days by +45.30% in comparison to the 20-day moving average, which settled at $77.30. In addition, Canadian Natural Resources Ltd. saw 20.92% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for CNQ
Current profitability levels for the company are sitting at:
- 0.26 for the present operating margin
- 0.29 for the gross margin
The net margin for Canadian Natural Resources Ltd. stands at 0.21. The total capital return value is set at 0.15. Equity return is now at value 20.88, with 10.46 for asset returns.
Based on Canadian Natural Resources Ltd. (CNQ), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at 1.11. The debt to equity ratio resting at 0.28. The interest coverage ratio of the stock is 16.45.
Currently, EBITDA for the company is 17.24 billion with net debt to EBITDA at 0.68. When we switch over and look at the enterprise to sales, we see a ratio of 3.23. The receivables turnover for the company is 12.45for trailing twelve months and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.96.
Conclusion
In conclusion, Canadian Natural Resources Ltd. (CNQ) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
