Canadian Natural Resources Limited (TSE:CNQ) Has Just Had Its Price Objective Upped by Research Analysts at Barclays Capital to $40.00

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Stock Analysis:Canadian Natural Resources Limited (TSE:CNQ) Stock Target Upgraded

In a recent research report published by Barclays Capital on Tuesday morning, Canadian Natural Resources Limited (TSE:CNQ) had its target price upgraded to $40.00. The firm now has a solid “Overweight” rating on shares.

From a total of 23 analysts covering Canadian Natural Resources Limited (TSE:CNQ) stock, 21 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 88% of the ratings are positive. The highest target price is $35.37 while the lowest target price is $23.58. The mean of all analyst targets is $29.22 with a 36.57% above today’s ($28.85) stock price. Canadian Natural Resources Limited was the topic of 10 analyst reports since August 22, 2015 according to the firm StockzIntelligence Inc. FirstEnergy Capital downgraded shares on November 9 to “Outperform” rating.

The stock increased 0.17% or $0.05 on December 8, striking $28.85. Approximately 3.35M shares of stock traded hands or 30.86% up from the average. Canadian Natural Resources Limited (TSE:CNQ) has declined 25.03% since May 6, 2015 and is downtrending. It has underperformed by 24.23% the S&P500.

Canadian Natural Resources Limited (TSE:CNQ) Has Just Had Its Price Objective Upped by Research Analysts at Barclays Capital to $40.00

Canadian Natural Resources Limited is an independent natural gas and crude oil producer. The company has a market cap of $31.57 billion. The Company’s diversified, balanced resource base consists of both dry and liquids-rich natural gas, heavy crude oil, bitumen, medium and light crude oil and synthetic crude oil. It has 72.97 P/E ratio. The Company’s reserves were approximately 8.89 billion barrel of oil equivalent.

According to Zacks Investment Research, “Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta. The Company’s operations are focused in Western Canada, the North Sea and Offshore West Africa.” Get a free copy of the Zacks research report on Canadian Natural Resources Limited (CNQ).

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