Canadian Natural Resources Limited (CNQ) : Analyst Rating Update

Canadian Natural Resources Limited (CNQ) : 8 analysts are covering Canadian Natural Resources Limited (CNQ) and their average rating on the stock is 1.75, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Canadian Natural Resources Limited (CNQ) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Canadian Natural Resources Limited (CNQ) : The most positive equity analysts on Canadian Natural Resources Limited (CNQ) expects the shares to touch $50, whereas, the least positive believes that the stock will trade at $26 in the short term. The company is covered by 7 Wall Street Brokerage Firms. The average price target for shares are $34.5 with an expected fluctuation of $7.61 from the mean.

Canadian Natural Resources Limited (NYSE:CNQ): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.64 and $30.34 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.43, notching a gain of 1.78% for the day. The total traded volume was 2,778,334 . The stock had closed at $30.88 on the previous day.

Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Canadian Natural Resources Limited (NYSE:CNQ). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $28.63 per share to $34 per share. The rating by the firm was issued on June 17, 2016. The company shares have rallied 19.23% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $32.02 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $29.67 and the 200 Day Moving Average price is recorded at $25.51.

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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