Canadian Natural Resource Receives Average Recommendation of “Buy” from Brokerages (NYSE:CNQ)
Canadian Natural Resource (NYSE:CNQ) has been given a consensus recommendation of “Buy” by the fifteen brokerages that are currently covering the company, American Banking & Market News reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $46.58.
CNQ has been the subject of a number of recent research reports. Analysts at CIBC set a $57.00 price target on shares of Canadian Natural Resource in a research note on Thursday, July 17th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Canadian Natural Resource in a research note on Tuesday, July 15th. They now have a $47.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Canadian Natural Resource from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 7th.
Canadian Natural Resource (NYSE:CNQ) opened at 45.21 on Friday. Canadian Natural Resource has a 1-year low of $29.08 and a 1-year high of $46.65. The stock has a 50-day moving average of $44.30 and a 200-day moving average of $38.94. The company has a market cap of $49.427 billion and a P/E ratio of 19.69.
Canadian Natural Resource (NYSE:CNQ) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.81 by $0.04. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the company posted $0.37 earnings per share. Canadian Natural Resource’s revenue was up 21.1% compared to the same quarter last year. On average, analysts predict that Canadian Natural Resource will post $3.93 earnings per share for the current fiscal year.
Canadian Natural Resources Limited is a Canadian independent energy company engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas liquids (NYSE:CNQ), and natural gas production.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.