Today, an analyst has provided a rating update for the Materials sector company, Canadian Natural Res (CNQ). Analyst Chris Cox from Raymond James remains bullish on the stock and has a C$46 price target.
According to TipRanks.com, Cox is a 2-star analyst with an average return of 0.3% and a 49.5% 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$47.22, representing a 23.9% upside. In a report released today, RBC Capital also maintained a Buy rating on the stock with a C$45 price target.
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Based on Canadian Natural Res’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$3.7 billion and GAAP net loss of C$776 million. In comparison, last year the company earned revenue of C$5.47 billion and had a net profit of C$583 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. The company was founded on November 7, 1973 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$38.10.
