Scotiabank Increases Canadian Natrl Res Price Target to $42.00 (CNQ)
Investment analysts at Scotiabank hoisted their target price on shares of Canadian Natrl Res (NYSE:CNQ) from $38.00 to $42.00 in a note issued to investors on Tuesday, Analyst Ratings Network reports. Scotiabank’s price target suggests a potential upside of 34.62% from the stock’s previous close.
Canadian Natrl Res (NYSE:CNQ) traded down 0.61% during mid-day trading on Tuesday, hitting $31.20. The stock had a trading volume of 1,547,156 shares. Canadian Natrl Res has a one year low of $26.83 and a one year high of $33.64. The stock’s 50-day moving average is $30.82 and its 200-day moving average is $30.49. The company has a market cap of $33.929 billion and a P/E ratio of 24.09.
Canadian Natrl Res (NYSE:CNQ) last released its earnings data on Thursday, August 8th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.02. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Canadian Natrl Res will post $2.25 earnings per share for the current fiscal year.
CNQ has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Canadian Natrl Res (NYSE:CNQ) in a research note to investors on Monday, September 16th. They now have a $33.00 price target on the stock. Separately, analysts at FirstEnergy Capital downgraded shares of Canadian Natrl Res (NYSE:CNQ) from a “top pick” rating to an “outperform” rating in a research note to investors on Monday, August 12th. Finally, analysts at TD Securities downgraded shares of Canadian Natrl Res (NYSE:CNQ) from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 29th. They now have a $38.00 price target on the stock, down previously from $40.00.
Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Canadian Natrl Res presently has a consensus rating of “Hold” and a consensus target price of $37.00.
Canadian Natural Resources Limited (NYSE:CNQ) is an independent crude oil and natural gas exploration, development and production company.
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