Canadian Natural Resources (CNQ) Price Target Cut to C$46.00 by Analysts at Barclays

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price cut by analysts at Barclays from C$49.00 to C$46.00 in a research note issued to investors on Thursday. Barclays‘s price objective points to a potential upside of 29.69% from the company’s previous close.

A number of other equities analysts have also recently commented on CNQ. Royal Bank of Canada cut shares of Canadian Natural Resources from a “top pick” rating to an “outperform” rating and dropped their price target for the stock from C$58.00 to C$55.00 in a research note on Thursday, September 20th. CIBC reaffirmed an “outperform” rating and set a C$55.00 price target on shares of Canadian Natural Resources in a research note on Friday, October 5th. Cormark dropped their price target on shares of Canadian Natural Resources from C$58.00 to C$55.00 in a research note on Tuesday, October 9th. BMO Capital Markets dropped their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Tuesday, October 9th. Finally, Morgan Stanley dropped their price target on shares of Canadian Natural Resources from C$64.00 to C$60.00 in a research note on Sunday, October 14th. Six investment analysts have rated the stock with a buy rating, Canadian Natural Resources currently has an average rating of “Buy” and a consensus price target of C$51.80.

Shares of CNQ stock traded up C$0.38 during trading hours on Thursday, reaching C$35.47. 4,073,184 shares of the stock were exchanged, compared to its average volume of 3,807,996. Canadian Natural Resources has a 12-month low of C$30.11 and a 12-month high of C$49.08. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 59.09.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, November 1st. The company reported C$1.18 EPS for the quarter, topping analysts’ consensus estimates of C$0.87 by C$0.31. The firm had revenue of C$5.90 billion for the quarter, compared to analysts’ expectations of C$6.10 billion. As a group, research analysts forecast that Canadian Natural Resources will post 2.80000001616628 earnings per share for the current fiscal year.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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