Canadian Natural (CNQ) Received its Third Buy in a Row
After Canaccord Genuity and RBC Capital gave Canadian Natural (NYSE: CNQ) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Chris Cox maintained a Buy rating on Canadian Natural yesterday and set a price target of C$23.00. The company’s shares closed last Monday at $10.99, close to its 52-week low of $6.71.
According to TipRanks.com, Cox ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.6% and a 39.7% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy, Crescent Point Energy, and Paramount Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Canadian Natural with a $22.79 average price target, representing a 125.6% upside. In a report issued on March 11, J.P. Morgan also maintained a Buy rating on the stock with a C$32.00 price target.
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The company has a one-year high of $32.79 and a one-year low of $6.71. Currently, Canadian Natural has an average volume of 4.12M.
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Canadian Natural Resources Ltd. is a senior oil and natural gas production company. It 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.