Today Morgan Stanley Keeps a Overweight Rating on Canadian Natural Res (NYSE:CNQ) and a $64 Target Price

May 23, 2018 - By Ash Ash

Canadian Natural Resources Limited (NYSE:CNQ) Logo

Canadian Natural Res (NYSE:CNQ) Rating Reaffirmed

In a note issued to clients on Wednesday morning, The Overweight rating of Canadian Natural Res (NYSE:CNQ) shares was reaffirmed by Morgan Stanley, who now has a $64 target on the stock. Morgan Stanley’s target would suggest a possible upside of 75.58 % from the stock close price of the company.

Canadian Natural Resources Limited (NYSE:CNQ) Ratings Coverage

Among 3 analysts covering Canadian Natural Res (NYSE:CNQ), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Canadian Natural Res has $58 highest and $55 lowest target. $55’s average target is 50.89% above currents $36.45 stock price. Canadian Natural Res had 4 analyst reports since January 24, 2018 according to SRatingsIntel. The rating was downgraded by Wells Fargo on Wednesday, February 7 to “Market Perform”. The company was maintained on Wednesday, January 24 by Morgan Stanley. The rating was maintained by Morgan Stanley on Monday, April 16 with “Overweight”.

The stock decreased 1.14% or $0.42 during the last trading session, reaching $36.45. About 1.86M shares traded. Canadian Natural Resources Limited (NYSE:CNQ) has declined 3.31% since May 23, 2017 and is downtrending. It has underperformed by 14.86% the S&P500.

Analysts await Canadian Natural Resources Limited (NYSE:CNQ) to report earnings on August, 2. They expect $0.48 earnings per share, up 71.43 % or $0.20 from last year’s $0.28 per share. CNQ’s profit will be $590.01 million for 18.98 P/E if the $0.48 EPS becomes a reality. After $0.62 actual earnings per share reported by Canadian Natural Resources Limited for the previous quarter, Wall Street now forecasts -22.58 % negative EPS growth.

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids . The company has market cap of $44.80 billion. The firm offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). It has a 22.98 P/E ratio. The Company’s midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Another recent and important Canadian Natural Resources Limited (NYSE:CNQ) news was published by Seekingalpha.com which published an article titled: “Canadian Natural Resources (CNQ) Q1 2018 Results – Earnings Call Transcript” on May 04, 2018.

Canadian Natural Resources Limited (NYSE:CNQ) Ratings Chart

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