Canadian Natural Resources (CNQ) Dips More Than Broader Markets: What You Should Know

Canadian Natural Resources (CNQ) closed at $50.59 in the latest trading session, marking a -0.22% move from the prior day. This move lagged the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.05%.

Heading into today, shares of the oil and natural gas company had gained 20.83% over the past month, outpacing the Oils-Energy sector's gain of 10.7% and the S&P 500's loss of 7.66% 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. On that day, Canadian Natural Resources is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 1158.33%. Our most recent consensus estimate is calling for quarterly revenue of $7.19 billion, up 86.76% from the year-ago period.

Any recent changes to analyst estimates for Canadian Natural Resources should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.62% lower. Canadian Natural Resources is holding a Zacks Rank of #4 (Sell) right now.

Digging into valuation, Canadian Natural Resources currently has a Forward P/E ratio of 9.71. This represents a premium compared to its industry's average Forward P/E of 5.54.

We can also see that CNQ currently has a PEG ratio of 0.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - Canadian was holding an average PEG ratio of 0.69 at yesterday's closing price.

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 71, which puts it in the top 28% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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