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Canadian Natural Resources (CNQ) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $63.72, marking a +1.13% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.51%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 0.1%.

Coming into today, shares of the oil and natural gas company had gained 20.07% in the past month. In that same time, the Oils-Energy sector gained 12.34%, while the S&P 500 gained 5.51%.

Canadian Natural Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.92, up 137.04% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.09 billion, up 35.83% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.75 per share and revenue of $26.33 billion. These totals would mark changes of +35.27% and +9.69%, respectively, from last year.

Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 15.49% higher. Canadian Natural Resources is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Canadian Natural Resources is holding a Forward P/E ratio of 9.34. For comparison, its industry has an average Forward P/E of 5.55, which means Canadian Natural Resources is trading at a premium to the group.

Meanwhile, CNQ's PEG ratio is currently 0.47. 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. Oil and Gas - Exploration and Production - Canadian stocks are, on average, holding a PEG ratio of 0.47 based on yesterday's closing prices.

The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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