A Reversal for Canadian Natural Resources Limited Is Not Near. The Stock Reaches 52-Week High Today

 A Reversal for Canadian Natural Resources Limited Is Not Near. The Stock Reaches 52 Week High Today

The stock of Canadian Natural Resources Limited (TSE:CNQ) hit a new 52-week high and has $46.76 target or 6.00% above today’s $44.11 share price. The 9 months bullish chart indicates low risk for the $49.82 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $46.76 price target is reached, the company will be worth $2.99 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.34 million shares traded hands. Canadian Natural Resources Limited (TSE:CNQ) has risen 17.33% since April 18, 2016 and is uptrending. It has outperformed by 12.77% the S&P500.

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 $42.33 average target is -4.04% below today’s ($44.11) stock price. Canadian Natural Resources Limited has been the topic of 26 analyst reports since August 22, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by FirstEnergy Capital on Monday, November 9. RBC Capital Markets upgraded Canadian Natural Resources Limited (TSE:CNQ) on Monday, August 29 to “Top Pick” rating. The company was maintained on Monday, January 25 by RBC Capital Markets. JP Morgan downgraded the shares of CNQ in a report on Wednesday, August 26 to “Neutral” rating. The rating was maintained by RBC Capital Markets with “Top Pick” on Monday, October 17. The stock of Canadian Natural Resources Limited (TSE:CNQ) has “” rating given on Monday, June 6 by Raymond James. Scotia Capital maintained the shares of CNQ in a report on Friday, November 4 with “Outperform” rating. The stock has “” rating given by Desjardins Securities on Tuesday, June 28.

More important recent Canadian Natural Resources Limited (TSE:CNQ) news were published by: Business.Financialpost.com which released: “Canadian Natural Resources Ltd makes itself OPEC-proof by raising dividend …” on November 03, 2016, also Cbc.ca published article titled: “Concerns over possible ongoing problems at CNRL well in Alberta”, Fool.ca published: “Canadian Natural Resources Limited Goes to War With TransCanada Corporation” on November 05, 2016. More interesting news about Canadian Natural Resources Limited (TSE:CNQ) was released by: Fool.ca and their article: “Why Canadian Natural Resources Limited Will Surprise Investors to the Upside” with publication date: October 25, 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 $49.82 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.TO 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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