Recent meaningful negative changes in fundamentals have affected Canadian Natural Resources Ltd (NYSE: CNQ): significant quarterly sales deceleration occurred, the consensus estimate for December, 2024 decreased significantly, and the consensus estimate for December, 2025 decreased significantly.
Important negative changes in Canadian Natural Resources Ltd (NYSE: CNQ) investment behavior have recently occurred: the stock’s recent price decline challenged its longer term uptrend.
In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
CNQ’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Canadian Natural Resources has a current Value Trend Rating of B (Positive). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Canadian Natural Resources has a very high Appreciation Score of 95 but a slightly negative Power Rating of 38, resulting in the Positive Value Trend Rating.
Recent Price Action
On 10/23/24, Canadian Natural Resources Ltd (NYSE: CNQ) stock declined slightly by -1.0%, closing at $35.11. However, this decline was accompanied by exceptionally low trading volume at 40% of normal. The stock has performed in line with the market over the last nine months and has declined -0.7% during the last week.
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