The target price for Canadian Natural Resources (NYSE: CNQ) was raised to USD 52.00 by analysts at Credit Suisse Group
Canadian Natural Resources (NYSE: CNQ) (TSE: CNQ) The price target was raised from USD 42.00 to USD 52.00 by investment analysts at Credit Suisse Group in a research note published on Tuesday, reports The Fly. The company currently has an “outperform” rating on the shares of the oil and gas producer. Credit Suisse Group’s price target indicates a potential increase of 70.72% over the current price of the share.
A number of other research analysts recently looked at CNQ as well. Scotiabank raised its target price on shares of Canadian Natural Resources from USD 33.00 to USD 42.00 and rated the company as “Outperform” in a research report on Thursday, January 14th. Desjardins raised its target price on Canadian natural resources from $ 38.00 to $ 46.00 and rated the company a “Buy” in a research report on Monday. Wells Fargo & Company upgraded Canadian Natural Resources from an “underweight” rating to an “equilibrium” rating in a research note on Tuesday, December 15th. Goldman Sachs Group downgraded Canadian Natural Resources shares from a “buy” rating to a “neutral” rating and raised their price target for the company in a research note on Wednesday, January 13th, from $ 27.00 to $ 28.00 .00 USD. Finally, on Wednesday, January 6th, National Bank Financial issued a research note with an “outperform” rating on shares of Canadian Natural Resources. Three investment analysts have given the stock a hold rating, and seventeen have given the company a buy rating. The company currently has an average rating of “Buy” and a consensus price target of $ 39.00.
CNQ opened at $ 30.46 on Tuesday. The stock has a market cap of $ 36.11 billion, a P / E of -84.61, and a beta of 1.90. The company has a current rate of 0.97, a quick rate of 0.71, and a leverage ratio of 0.65. Canadian Natural Resources has a 12-month low of $ 6.71 and a 12-month high of $ 31.92. The company’s 50-day simple moving average is $ 26.29 and the company’s 200-day simple moving average is $ 21.99.
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Canadian Natural Resources (NYSE: CNQ) (TSE: CNQ) last released its quarterly earnings data on Wednesday March 3rd. The oil and gas producer reported earnings per share of $ 0.15 for the quarter, beating Zacks’ consensus estimate of $ 0.13 by $ 0.02. Canadian Natural Resources posted a negative return on equity of 1.74% and a negative net margin of 3.03%. On average, equity analysts predict that Canadian Natural Resources will post an EPS of -0.55 for the current fiscal year.
Several institutional investors have recently changed their positions in the company. Miller Howard Investments Inc., NY, increased its stake in Canadian Natural Resources 55.6% in the fourth quarter. Miller Howard Investments Inc., NY, now owns 358,631 shares in the oil and gas producer valued at $ 8,625,000 after purchasing an additional 128,091 shares last quarter. GWM Advisors LLC took on a new position in Canadian Natural Resources valued at approximately $ 341,000 in the fourth quarter. Kestra Private Wealth Services LLC acquired a new position in Canadian Natural Resources valued at approximately $ 748,000 in the third quarter. Eudaimonia Partners LLC acquired a new position in Canadian Natural Resources valued at approximately $ 64,000 in the third quarter. Finally, Verity Asset Management Inc. acquired a new position in Canadian Natural Resources worth approximately $ 215,000 in the fourth quarter. 66.50% of the shares belong to institutional investors.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited researches, develops, manufactures, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude (SCO), light and medium crude, bitumen (thermal oil), primary heavy crude, and heavy crude from Pelican Lake. Midstream assets include two crude oil pipeline systems; and a 50% stake in an 84 megawatt cogeneration power plant in Primrose.
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