Analysts seem to be optimistic about Canadian Natural Res (CNQ) lately, as another research firm gave the stock a Buy rating yesterday. Analyst Chris Cox from Raymond James reiterated a Buy rating, with a C$45 price target.
According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.6% and a 45.6% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.
Currently, the analyst consensus on Canadian Natural Res is a Strong Buy with an average price target of C$52, implying a 47.1% upside from current levels. In a report issued on December 6, BMO Capital also maintained a Buy rating on the stock with a C$55 price target.
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Canadian Natural Res’ market cap is currently C$43.11B and has a P/E ratio of 11.5. The company has a Price to Book ratio of 1.29.
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$35.36.
