RBC Global Asset Management, Inc. has recently announced that it has increased stake in Canadian Natural Resources Ltd. (NYSE:CNQ) by 2.27%. After grabbing 36.46 million shares, the institutional investor is now in possession of 0.81 million shares of the Energy Company. The new investment brought the stake of investor firm to 3.37% having worth around $2.44 billion. Moreover, TD Asset Management, Inc. increased its share by 1.34 million to have a control over 26.15 million shares.
Canadian Natural Resources Ltd. (CNQ) concluded trading on 01/04/24 at a closing price of $66.62, with 4.6 million shares of worth about $306.47 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.21% during that period and on Thursday the price saw a loss of about -1.35%. Currently the company’s common shares owned by public are about 1.10B shares, out of which, 1.06B shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the CNQ stock and their offered price forecasts bring an average price target of $97.92. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $107.94 and could fall to a lowest price of $86.00. The stock’s current price level is 8.68% above of average price target set by the analysts, while a rise to estimated low would result in gain of 22.53% for the stock. However, touching the estimated high of $107.94 would mean a gain of 38.28% for the stock.
American Funds EuroPacific Growth, American Balanced Fund, and American Funds Capital World Grow are the top 3 mutual funds which are holding stakes in Canadian Natural Resources Ltd. American Funds EuroPacific Growth is currently holding 39.95 million shares of worth totaling $2.67 billion. The company recently came selling -5.89 million shares which brought its stake up to 3.69% of the company’s outstanding shares. American Funds Capital World Grow, after buying 24.66 million shares, have now control over 2.28% of the stake in the company. It holds 0.18 million shares of worth $1.65 billion.
Canadian Natural Resources Ltd. (NYSE: CNQ) started trading at $67.79, above $0.26 from concluding price of the previous day. However, the stock later moved at a day high price of 68.13, or with a loss of -1.35%. Stock saw a price change of 0.11% in past 5 days and over the past one month there was a price change of -0.07%. Year-to-date (YTD), CNQ shares are showing a performance of 1.68% which increased to 27.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $48.81 but also hit the highest price of $68.74 during that period. The average intraday trading volume for Canadian Natural Resources Ltd. shares is 3.24 million. The stock is currently trading 3.53% above its 20-day simple moving average (SMA20), while that difference is up 2.73% for SMA50 and it goes to 9.80% higher than SMA200.
RBC Global Asset Management, Inc. acquired 36.46 million shares of Canadian Natural Resources Ltd. having value of about $2.44 billion. Data submitted at the U.S SEC by RBC Global Asset Management, Inc. revealed that the firm now holds 0.81 million shares in the company valued at close to $54000706.36, or have control over 2.27% stake in the company. Canadian Natural Resources Ltd. (NYSE: CNQ) currently have 1.10B outstanding shares and institutions hold larger chunk of about 77.48% of that. Holding of mutual funds in the company is about 20.26% while other institutional holders and individual stake holders have control over 58.27% and — of the stake respectively.
The stock has a current market capitalization of $72.11B and its 3Y-monthly beta is at 1.54. PE ratio of stock for trailing 12 months is 13.97, while it has posted earnings per share of $4.77 in the same period. It has Quick Ratio of 0.65 while making debt-to-equity ratio of 0.33. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CNQ, volatility over the week remained 2.15% while standing at 2.38% over the month.
Analysts are in expectations that Canadian Natural Resources Ltd. (CNQ) stock would likely to be making an EPS of $1.56 in the current quarter, while forecast for next quarter EPS is $1.62 and it is $6.12 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.16 which is $2.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.46 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -32.89% while it is estimated to increase by 10.24% in next year. EPS is likely to shrink at an annualized rate of -0.74% for next 5-years, compared to annual growth of 36.34% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the Canadian Natural Resources Ltd. (CNQ)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.78. Out of those 23 Wall Street analysts, 14 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
