Canadian Natural Resources Limited (CNQ) Receives Price Target

Canadian Natural Resources Limited (CNQ) : The consensus price target for Canadian Natural Resources Limited (CNQ) is $35.58 for the short term with a standard deviation of $7.46. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $50, however, the pessimist price target for the company is $26.

Canadian Natural Resources Limited (CNQ) : Zacks Investment Research ranks Canadian Natural Resources Limited (CNQ) as 3, which is a Hold recommendation. 5 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 2 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 1.67, which indicates as a Buy.


Also, Bank of America initiates coverage on Canadian Natural Resources Limited (NYSE:CNQ).The analysts at the brokerage house have a current rating of Buy on the shares. The rating by the firm was issued on August 19, 2016.

Canadian Natural Resources Limited (NYSE:CNQ): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.85 and $30.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.17, notching a gain of 0.39% for the day. The total traded volume was 1,915,237 . The stock had closed at $31.05 on the previous day.

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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