Analysis: Canadian Natural Resources (TSE:CNQ) Upside Target Change Today
In a very recent research note issued to investors and clients by JP Morgan on 15 December, the firm, Canadian Natural Resources (TSE:CNQ), had their Estimated Target Price lowered to $30.00. Analusts at present have a solid “Neutral” rating on the stock.
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 $35.01 while the lowest target price is $23.34. The mean of all analyst targets is $28.86 with a 32.88% above today’s ($29.65) 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.
Approximately 2.87 million shares of stock traded hands or 42.08% up from the average. Canadian Natural Resources Limited (TSE:CNQ) has declined 24.34% since May 12, 2015 and is downtrending. It has underperformed by 20.66% the S&P500.
Canadian Natural Resources Limited is an independent natural gas and crude oil producer. The company has a market cap of $32.45 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 74.99 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.”