Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Canaccord Genuity’s analyst Dennis Fong reiterates their Buy rating on the shares of Canadian Natural Res (TSX: CNQ), with a C$60 price target.
Fong commented:
“We do not believe this is surprising given the proximity of the lands at Joslyn to Canadian Natural’s Horizon project (see map on page 2) and follows our view of a theme of geographic integration of assets and consolidation within the oil sands.”
Fong has an average return of 7.2% when recommending Canadian Natural Res.
According to TipRanks.com, Fong is ranked #530 out of 4874 analysts.
Currently, the analyst consensus on Canadian Natural Res is a Strong Buy with an average price target of C$58.33.
Canadian Natural Res’ market cap is currently C$55.45B and has a P/E ratio of 21. The company has a Price to Book ratio of 1.71.
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 Friday at C$45.37.
