Price Action Don’t Lie: What Next for Canadian Natural Resource Ltd (USA) Stock After Making 52-Week High?

Price Action Don't Lie: What Next for Canadian Natural Resource Ltd (USA) Stock After Making 52 Week High?

The stock of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) hit a new 52-week high and has $36.59 target or 9.00% above today’s $33.57 share price. The 5 months bullish chart indicates low risk for the $36.26B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $36.59 price target is reached, the company will be worth $3.26B 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 338,532 shares traded hands. Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has risen 1.24% since April 27, 2016 and is uptrending. It has underperformed by 3.99% the S&P500.

Analysts await Canadian Natural Resource Ltd (USA) (NYSE:CNQ) to report earnings on March, 2.

Canadian Natural Resource Ltd (USA) (NYSE:CNQ) Ratings Coverage

Out of 11 analysts covering Canadian Natural Resources Limited (NYSE:CNQ), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. $43.5 is the highest target while $21 is the lowest. The $34.71 average target is 3.40% above today’s ($33.57) stock price. Canadian Natural Resources Limited has been the topic of 22 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Macquarie Research given on Friday, January 8. The firm has “Equal-Weight” rating given on Tuesday, January 12 by Morgan Stanley. The stock of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) earned “Neutral” rating by Citigroup on Monday, September 14. On Friday, August 19 the stock rating was initiated by Bank of America with “Buy”. The stock of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) earned “” rating by Raymond James on Friday, August 7. The rating was maintained by Citigroup on Friday, June 17 with “Buy”. The stock of Canadian Natural Resource Ltd (USA) (NYSE:CNQ) has “Outperform” rating given on Wednesday, September 9 by Raymond James. The stock has “Outperform” rating given by Macquarie Research on Friday, August 5. TD Securities downgraded the stock to “Hold” rating in Friday, April 1 report. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, November 6 report.

According to Zacks Investment Research, “Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta. The Company’s operations are focused in Western Canada, the North Sea and Offshore West Africa.”

More notable recent Canadian Natural Resource Ltd (USA) (NYSE:CNQ) news were published by: Fool.ca which released: “Did TransCanada Corporation Just Cost Canadian Natural Resources Limited …” on November 25, 2016, also Fool.ca with their article: “Why Canadian Natural Resources Limited Will Surprise Investors to the Upside” published on October 25, 2016, Fool.ca published: “Canadian Natural Resources Limited Goes to War With TransCanada Corporation” on November 05, 2016. More interesting news about Canadian Natural Resource Ltd (USA) (NYSE:CNQ) were released by: Fool.ca and their article: “3 Great Reasons to Buy Canadian Natural Resources Limited” published on October 17, 2016 as well as Fool.ca‘s news article titled: “Canadian Natural Resources Limited: Why Is Cash Flow Plunging?” with publication date: September 06, 2016.

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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