RBC Capital Keeps a Buy Rating on Canadian Natural Res (CNQ)
Canadian Natural Res (CNQ), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Gregory Pardy from RBC Capital remains bullish on the stock and has a C$45 price target.
According to TipRanks.com, Pardy is a 1-star analyst with an average return of -0.9% and a 48.3% success rate. Pardy covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Cenovus Energy Inc, and Canadian Natural.
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, Raymond James also maintained a Buy rating on the stock with a C$46 price target.
Canadian Natural Res’ market cap is currently C$45.59B and has a P/E ratio of 17.7. The company has a Price to Book ratio of 1.43.
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.