Canadian Natural Resources Ltd Stock Forecast:
Based on the forecast of 19 analysts, the average target price for Canadian Natural Resources Ltd (CNQ:TSX) over the next 12 months is CAD 87.74, and the average analyst rating is Buy. However, Stock Target Advisor‘s own analysis of the stock is Slightly Bearish, based on 6 positive signals and 10 negative signals. The stock’s last closing price was CAD 76.44, which represents a decrease of -4.77% over the past week, -3.73% over the past month, and -6.68% over the last year.
Canadian Natural Resources Ltd. News:
Canadian Natural Resources Ltd, reported its first-quarter earnings, which missed the analysts’ estimates by a slight margin. Despite a rise in production to 1.32 million barrels of oil equivalent per day (boepd) from 1.28 million boepd last year, the company’s earnings were affected by lower energy prices, resulting in a fall in the realized price of liquids to $76.11 per barrel from last year’s $94.38 per barrel.
Canadian Natural Resources Ltd earned C$1.69 per share on an adjusted basis, slightly missing the analysts’ expectations of C$1.70 per share. Although the company’s earnings missed the estimates, the rise in production is a positive sign, and the company expects to continue its growth momentum.
The company has been focusing on reducing costs and improving efficiency to enhance profitability, and these measures have been yielding positive results. The company has also been investing in sustainable and environmentally responsible operations, which align with the government’s goals of reducing greenhouse gas emissions.
About Canadian Natural Resources:
Canadian Natural Resources is a company based in Calgary, Canada that engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids. They offer different types of crude oil such as light, medium, heavy, and synthetic crude oil. Additionally, they have midstream assets including pipeline systems and a cogeneration plant. Canadian Natural Resources Limited operates primarily in Western Canada, the United Kingdom portion of the North Sea, and Offshore Africa. The company was incorporated in 1973 and was formerly known as AEX Minerals Corporation.