The stock of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) hit a new 52-week high and has $54.38 target or 64.00% above today’s $33.16 share price. The 9 months bullish chart indicates low risk for the $36.80B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $54.38 price target is reached, the company will be worth $23.55 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 907,238 shares traded hands. Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has risen 17.30% since March 16, 2016 and is uptrending. It has outperformed by 11.75% the S&P500.
Analysts await Canadian Natural Resource Ltd (USA) (NYSE:CNQ) to report earnings on November, 3. They expect $-0.14 EPS, down 200.00% or $0.28 from last year’s $0.14 per share. After $-0.24 actual EPS reported by Canadian Natural Resource Ltd (USA) for the previous quarter, Wall Street now forecasts -41.67% EPS growth.
Canadian Natural Resource Ltd (USA) (NYSE:CNQ) Ratings Coverage
Out of 11 analysts covering Canadian Natural Resources Limited (NYSE:CNQ), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Canadian Natural Resources Limited has been the topic of 22 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by Macquarie Research on Friday, January 8 to “Neutral”. RBC Capital Markets maintained the shares of CNQ in a report on Friday, November 6 with “Outperform” rating. As per Friday, August 7, the company rating was upgraded by Raymond James. Citigroup maintained Canadian Natural Resource Ltd (USA) (NYSE:CNQ) rating on Monday, September 14. Citigroup has “Neutral” rating and $23 price target. The stock of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has “Buy” rating given on Thursday, June 16 by RBC Capital Markets. As per Wednesday, September 9, the company rating was upgraded by Raymond James. The rating was downgraded by TD Securities to “Hold” on Friday, April 1. The firm has “Buy” rating given on Friday, June 17 by Citigroup. The firm has “Equal-Weight” rating given on Tuesday, January 12 by Morgan Stanley. The firm earned “Outperform” rating on Friday, August 5 by Macquarie Research.
According to Zacks Investment Research, “Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta. The Company’s operations are focused in Western Canada, the North Sea and Offshore West Africa.”
More notable recent Canadian Natural Resource Ltd (USA) (NYSE:CNQ) news were published by: Fool.ca which released: “3 Great Reasons to Buy Canadian Natural Resources Limited” on October 17, 2016, also Fool.ca with their article: “Canadian Natural Resources Limited Is Ramping Production: Will Earnings Growth …” published on June 20, 2016, Fool.ca published: “Better Buy: Cenovus Energy Inc. vs. Canadian Natural Resources Limited” on May 30, 2016. More interesting news about Canadian Natural Resource Ltd (USA) (NYSE:CNQ) were released by: Fool.ca and their article: “What Does the Future Hold for Canadian Natural Resources Limited?” published on August 23, 2016 as well as Fool.ca‘s news article titled: “Why Canadian Natural Resources Limited Is Really Looking Forward to the Future” with publication date: March 15, 2016.
CNQ Company Profile
Canadian Natural Resources Limited, incorporated on January 6, 1985, is an independent natural gas and crude oil exploration, development and production company. The Firm is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). The Company’s exploration and production activities are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa. The Horizon Oil Sands Mining and Upgrading segment (Horizon) produces synthetic crude oil through bitumen mining and upgrading operations. Within Western Canada, the Company maintains certain midstream activities that include pipeline operations, an electricity co-generation system and an investment in the North West Redwater Partnership (Redwater Partnership), a general partnership formed in the Province of Alberta.
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