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Canadian Natural Resources (CNQ) Stock Moves -0.36%: What You Should Know

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In the latest trading session, Canadian Natural Resources (CNQ - Free Report) closed at $76.55, marking a -0.36% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.

The oil and natural gas company's shares have seen an increase of 3.45% over the last month, surpassing the Oils-Energy sector's gain of 2.78% and the S&P 500's loss of 2.57%.

The investment community will be closely monitoring the performance of Canadian Natural Resources in its forthcoming earnings report. In that report, analysts expect Canadian Natural Resources to post earnings of $1.08 per share. This would mark a year-over-year decline of 13.6%. Alongside, our most recent consensus estimate is anticipating revenue of $6.1 billion, indicating a 4.4% downward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.70 per share and a revenue of $25.83 billion, indicating changes of -0.52% and -3.07%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Canadian Natural Resources. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.32% higher within the past month. Canadian Natural Resources currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Canadian Natural Resources has a Forward P/E ratio of 13.49 right now. This signifies a premium in comparison to the average Forward P/E of 8.29 for its industry.

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 26, which puts it in the top 11% 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.

Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.

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