Canadian Natural Resources Ltd (CNQ) Stock Could Soon Reward Patient Investors

Canadian Natural Resources Ltd (NYSE: CNQ) is -7.58% lower on its value in year-to-date trading and has touched a low of $24.65 and a high of $39.20 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CNQ stock was last observed hovering at around $28.01 in the last trading session, with the day’s gains setting it 0.52%.

Currently trading at $28.53, the stock is 0.87% and -1.32% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.14 million and changing 1.86% at the moment leaves the stock -11.50% off its SMA200. CNQ registered -23.78% loss for a year compared to 6-month loss of -16.14%.

The stock witnessed a 3.44% gain in the last 1 month and extending the period to 3 months gives it a -7.94%, and is -2.69% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.95% over the week and 4.01% over the month.

Canadian Natural Resources Ltd (CNQ) has around 10640 employees, a market worth around $59.89B and $26.02B in sales. Current P/E ratio is 13.69 and Fwd P/E is 10.83. Profit margin for the company is 17.14%. Distance from 52-week low is 15.74% and -27.22% from its 52-week high. The company has generated returns on investments over the last 12 months (11.24%).

The EPS is expected to grow by 6.07% this year.

Canadian Natural Resources Ltd (CNQ) Top Institutional Holders

The shares outstanding are 2.10B, and float is at 2.05B with Short Float at 3.03%.

The top institutional shareholder in the company is CAPITAL WORLD INVESTORS with over 290.59 million shares valued at $10.35 billion. The investor’s holdings represent 13.6214% of the CNQ Shares outstanding. As of 2024-06-30, the second largest holder is ROYAL BANK OF CANADA with 114.83 million shares valued at $4.09 billion to account for 5.3823 of the shares outstanding. The other top investors are CAPITAL RESEARCH GLOBAL INVESTORS which holds 111.65 million shares representing 5.2335% and valued at over $3.98 billion, while VANGUARD GROUP INC holds 4.1189 of the shares totaling 87.87 million with a market value of $3.13 billion.