Canadian Natural Resource Ltd (USA) (CNQ) is Initiated by BofA/Merrill to Buy

Canadian Natural Resource Ltd (USA) (CNQ) was Initiated by BofA/Merrill to “Buy”. BofA/Merrill advised their investors in a research report released on Aug 19, 2016.

Many Wall Street Analysts have commented on Canadian Natural Resource Ltd (USA). Canadian Natural Resource Ltd (USA) was Upgraded by Macquarie to ” Outperform” on Aug 5, 2016. Canadian Natural Resource Ltd (USA) was Upgraded by RBC Capital Mkts to ” Top Pick” on Jun 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Jun 14, 2016 to “Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $43 .

On the company’s financial health, Canadian Natural Resource Ltd (USA) reported $-0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Mar 3, 2016. Analyst had a consensus of $-0.12. The company had revenue of $2793.00 million for the quarter, compared to analysts expectations of $2658.22 million. The company’s revenue was down -36.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.10 EPS.

Canadian Natural Resource Ltd (USA) opened for trading at $32.22 and hit $32.505 on the upside on Wednesday, eventually ending the session at $32.4, with a gain of 0.28% or 0.09 points. The heightened volatility saw the trading volume jump to 24,88,537 shares. Company has a market cap of $35,690 M.

Canadian Natural Resources Limited is an independent crude oil and natural gas producer. The Company’s 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.

Canadian Natural Resource Ltd (USA)

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