Could Canadian Natural Resources Limited Decline After Today’s Huge Increase?

 Could Canadian Natural Resources Limited Decline After Today's Huge Increase?

The stock of Canadian Natural Resources Limited (TSE:CNQ) is a huge mover today! About 672,375 shares traded hands. Canadian Natural Resources Limited (TSE:CNQ) has risen 17.09% since March 11, 2016 and is uptrending. It has outperformed by 11.60% the S&P500.
The move comes after 9 months positive chart setup for the $47.03B company. It was reported on Oct, 18 by Barchart.com. We have $56.64 PT which if reached, will make TSE:CNQ worth $15.52B more.

Canadian Natural Resources Limited (TSE:CNQ) Ratings Coverage

Out of 7 analysts covering Canadian Natural Resources Limited (TSE:CNQ), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $51 is the highest target while $30 is the lowest. The $39.70 average target is -6.79% below today’s ($42.59) stock price. Canadian Natural Resources Limited has been the topic of 22 analyst reports since August 22, 2015 according to StockzIntelligence Inc. JP Morgan downgraded the shares of CNQ in a report on Wednesday, August 26 to “Neutral” rating. Desjardins Securities maintained the shares of CNQ in a report on Tuesday, June 28 with “” rating. RBC Capital Markets maintained Canadian Natural Resources Limited (TSE:CNQ) on Monday, January 25 with “Outperform” rating. The stock of Canadian Natural Resources Limited (TSE:CNQ) earned “” rating by Raymond James on Monday, June 6. On Monday, November 9 the stock rating was downgraded by FirstEnergy Capital to “Outperform”. The firm has “Top Pick” rating given on Monday, October 17 by RBC Capital Markets. RBC Capital Markets upgraded Canadian Natural Resources Limited (TSE:CNQ) rating on Monday, August 29. RBC Capital Markets has “Top Pick” rating and $51 price target.

Another recent and important Canadian Natural Resources Limited (TSE:CNQ) news was published by Business.Financialpost.com which published an article titled: “Canadian Natural Resources Ltd loss narrows on lower costs, says Horizon …” on August 04, 2016.

Canadian Natural Resources Limited is an independent natural gas and crude oil exploration, development and production company. The company has a market cap of $47.03 billion. The Firm is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids . It currently has negative earnings. The Company’s exploration and production activities are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.

CNQ Company Profile

Canadian Natural Resources Limited, incorporated on January 6, 1985, is an independent natural gas and crude oil exploration, development and production company. The Firm is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). The Company’s exploration and production activities are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa. The Horizon Oil Sands Mining and Upgrading segment (Horizon) produces synthetic crude oil through bitumen mining and upgrading operations. Within Western Canada, the Company maintains certain midstream activities that include pipeline operations, an electricity co-generation system and an investment in the North West Redwater Partnership (Redwater Partnership), a general partnership formed in the Province of Alberta.

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