Raymond James analyst Michael Barth, CFA maintains $Canadian Natural Resources (CNQ.US)$ with a hold rating, and adjusts the target price from $36.02 to $37.34.
According to TipRanks data, the analyst has a success rate of 68.8% and a total average return of 13.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Canadian Natural Resources (CNQ.US)$'s main analysts recently are as follows:
The firm's notably positive outlook on Canadian Natural is influenced by its robust leadership, alignment with shareholders, impressive generation of free cash flow, exceptional operating performance, and substantial returns to shareholders. Additionally, the company is highlighted as the preferred senior producer.
The company's recent announcement of acquiring additional interests in the Western Canadian Sedimentary Basin has been highlighted as a strategic acquisition, allowing it to consolidate its stake at a favorable cost. Furthermore, the inclusion of the Duvernay asset is considered a valuable addition, especially given the recent advancements in well productivity and its advantageous location near the company's Montney assets.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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