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BMO Capital Thinks Canadian Natural Res’ Stock is Going to Recover


Wall Street analyst has provided a review for the Materials company on October 8, but retained the same rating on the stock. On October 8, analyst Randy Ollenberger gave a Buy rating to CNQ and set a C$58 price target.

Ollenberger has an average return of 3.5% when recommending Canadian Natural Res.

According to TipRanks.com, Ollenberger is ranked #2236 out of 4897 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Canadian Natural Res with a C$56.80 average price target, a 47.0% upside from current levels. In a report issued on September 26, TD Securities also reiterated a Buy rating on the stock with a C$56 price target.

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Based on Canadian Natural Res’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$5.95 billion and net profit of C$982 million. In comparison, last year the company earned revenue of C$4.29 billion and had a net profit of C$684 million.

Canadian Natural Resources Ltd. is a senior oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: North America; North Sea; Offshore Africa; Oil Sands Mining and Upgrading; Midstream; Abandonments; and Head Office.

The company’s shares closed on Thursday at C$38.64, close to its 52-week low of C$36.88.