Canadian Natural Resources Limited (NYSE: CNQ) stock jumped 0.58% on Thursday to $64.67 against a previous-day closing price of $64.30. With 4.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.97 million shares. The 52-week range on CNQ shows that it touched its highest point at $66.18 and its lowest point at $44.45 during that stretch. It currently has a 1-year price target of $67.64. With its current market cap of 70.94 billion, CNQ has annualized dividend of $2.70 while the current yield stands at 4.17%. Beta for the stock currently stands at 1.60.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNQ was down-trending over the past week, with a drop of -0.98%, but this was up by 8.09% over a month. Three-month performance surged to 16.61% while six-month performance rose 27.50%. The stock gained 17.99% in the past year, while it has gained 16.46% so far this year. A look at the trailing 12-month EPS for CNQ yields 4.96 with Next year EPS estimates of 8.42. For the next quarter, that number is 2.03. This implies an EPS growth rate of 47.30% for this year and 20.80% for next year. EPS is expected to decline by -0.74% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 36.30%.
Float and Shares Shorts:
At present, 1.10 billion CNQ shares are outstanding with a float of 1.07 billion shares on hand for trading. On Aug 30, 2023, short shares totaled 56.71 million, which was 5.19% higher than short shares on Jul 30, 2023. In addition to Mr. Norman Murray Edwards O.C. as the firm’s Exec. Chairman, Mr. Timothy Shawn McKay serves as its Pres & Director.
Through their ownership of 78.72% of CNQ’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.30% of CNQ, in contrast to 17.42% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CNQ with 13.51% of the stake, Capital Research & Management Co holds 148,906,205 shares worth 148,906,205. A second-largest stockholder of CNQ, Capital Research & Management Co, holds 92,178,977 shares, controlling over 8.36% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in CNQ, holding 45,712,873 shares or 4.15% stake. With a 4.16% stake in CNQ, the American Funds EuroPacific Growth is the largest stakeholder. A total of 45,838,453 shares are owned by the mutual fund manager. The American Balanced Fund, which owns about 2.99% of CNQ stock, is the second-largest Mutual Fund holder. It holds 32,969,613 shares valued at 2.0 billion. American Funds Capital World Grow holds 2.22% of the stake in CNQ, owning 24,474,978 shares worth 1.49 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CNQ reported revenue of $13.81B and operating income of $5.03B. The EBITDA in the recently reported quarter was $6.40B and diluted EPS was $3.00.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNQ since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CNQ analysts setting a high price target of $75.90 and a low target of $60.23, the average target price over the next 12 months is $67.87. Based on these targets, CNQ could surge 17.37% to reach the target high and fall by -6.87% to reach the target low. Reaching the average price target will result in a growth of 4.95% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.