Canadian Natural Resources Limited (CNQ): Price Target and June Short Interest Disclosure

Canadian Natural Resources Limited (CNQ) stock is expected to deviate a maximum of $7.61 from the average target price of $34.5 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $50 and the most muted being $26.

Canadian Natural Resources Limited (CNQ) stated loss of 679,359 shares or 4.2% in the short interest. The short interest registered from 16,004,375 on June 15,2016 to 15,325,016 on June 30,2016. In terms of floated shares, the shorted positions stood at 1.4%. The stock has been averaging 2,962,616 shares daily in trading and would need 5 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Citigroup maintains the rating on Canadian Natural Resources Limited (NYSE:CNQ). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $28.63 per share to $34 per share. The rating by the firm was issued on June 17, 2016.


Canadian Natural Resources Limited (NYSE:CNQ): stock turned positive on Thursday. Though the stock opened at $32.14, the bulls momentum made the stock top out at $32.4 level for the day. The stock recorded a low of $31.85 and closed the trading day at $32.12, in the green by 1.17%. The total traded volume for the day was 2,520,232. The stock had closed at $31.75 in the previous days trading.

Canadian Natural Resources Limited is an independent crude oil and natural gas producer. The Companys 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. Its reserves were approximately 8.89 billion barrel of oil equivalent. Its segments include North America, North Sea, Offshore Africa, Oil Sands Mining and Upgrading, and Midstream. It has a portfolio of assets with production and development of both natural gas and crude oil. North America serve as its main operations with international exposure provided through operations in the United Kingdom portion of the North Sea and Offshore Africa.

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