U.S. markets closed
  • S&P Futures

    4,135.75
    -11.00 (-0.27%)
     
  • Dow Futures

    32,698.00
    -59.00 (-0.18%)
     
  • Nasdaq Futures

    13,194.25
    -34.50 (-0.26%)
     
  • Russell 2000 Futures

    1,917.30
    -4.50 (-0.23%)
     
  • Crude Oil

    88.89
    -0.12 (-0.13%)
     
  • Gold

    1,790.90
    -0.30 (-0.02%)
     
  • Silver

    19.83
    -0.01 (-0.06%)
     
  • EUR/USD

    1.0178
    -0.0009 (-0.09%)
     
  • 10-Yr Bond

    2.8400
    +0.1640 (+6.13%)
     
  • Vix

    21.15
    -0.29 (-1.35%)
     
  • GBP/USD

    1.2070
    -0.0000 (-0.00%)
     
  • USD/JPY

    135.1700
    +0.2000 (+0.15%)
     
  • BTC-USD

    23,196.74
    +263.86 (+1.15%)
     
  • CMC Crypto 200

    539.42
    +4.20 (+0.78%)
     
  • FTSE 100

    7,439.74
    -8.32 (-0.11%)
     
  • Nikkei 225

    28,178.32
    +2.45 (+0.01%)
     

Canadian Natural Resources (CNQ) Flat As Market Sinks: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Canadian Natural Resources (CNQ) closed the most recent trading day at $52.18, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow lost 1.38%, while the tech-heavy Nasdaq lost 0.38%.

Prior to today's trading, shares of the oil and natural gas company had gained 2.92% over the past month. This has lagged the Oils-Energy sector's gain of 5.16% and outpaced the S&P 500's loss of 1.96% in that time.

Investors will be hoping for strength from Canadian Natural Resources as it approaches its next earnings release, which is expected to be March 3, 2022. The company is expected to report EPS of $1.58, up 1216.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.19 billion, up 86.76% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.18% higher. Canadian Natural Resources is currently a Zacks Rank #3 (Hold).

Investors should also note Canadian Natural Resources's current valuation metrics, including its Forward P/E ratio of 9.47. For comparison, its industry has an average Forward P/E of 4.66, which means Canadian Natural Resources is trading at a premium to the group.

Also, we should mention that CNQ has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - Canadian industry currently had an average PEG ratio of 0.67 as of yesterday's close.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.