Canadian Natural Resources (NYSE:CNQ) Rating Reaffirmed
In an interesting research report issued to clients and investors on 15 December, The Neutral rating of Canadian Natural Resources (NYSE:CNQ) shares was has decided to reaffirm by Analysts at JP Morgan, who now has a $30.00 price target on the stock. JP Morgan’s price target could mean a possible upside of 39.28% from the last stock close price of the company.
From a total of 10 analysts covering Canadian Natural Resources Limited (NYSE:CNQ) stock, 7 rate it a ”Buy”, 1 a “Sell”, and 2 a ”Hold”. This means that 70% of the ratings are positive. The highest target price is $34.93 while the lowest target price is $25.68. The mean of all analyst targets is $28.91 with a 65.48% above today’s ($21.58) stock price. Canadian Natural Resources Limited was the topic of 12 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 6 with “Outperform” rating. Raymond James upgraded CNQ stock in a recent report from September 9 to “Outperform” rating.
Approximately 4.16 million shares of stock traded hands or 8.33% up from the average. Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has declined 33.86% since May 12, 2015 and is downtrending. It has underperformed by 30.18% the S&P500.
Canadian Natural Resources Limited is an independent natural gas and crude oil producer. The company has a market cap of $22.98 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 74.96 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.”