Canadian Natural Resource Receives Consensus Rating of “Buy” from Brokerages (NYSE:CNQ)
Shares of Canadian Natural Resource (NYSE:CNQ) have received an average recommendation of “Buy” from the fifteen analysts that are currently covering the stock, StockRatingsNetwork reports. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $46.58.
Canadian Natural Resource (NYSE:CNQ) opened at 45.21 on Friday. Canadian Natural Resource has a 52-week low of $29.08 and a 52-week 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 price-to-earnings ratio of 19.69.
Canadian Natural Resource (NYSE:CNQ) last announced its earnings results on Thursday, May 8th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 21.1% on a year-over-year basis. On average, analysts predict that Canadian Natural Resource will post $3.93 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 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.
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