Somewhat Critical Media Coverage Likely to Impact Canadian Natural Resource (CNQ) Share Price
Media coverage about Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) has trended somewhat negative on Saturday, according to InfoTrie. The research firm identifies positive and negative news coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. Canadian Natural Resource earned a news sentiment score of -1.86 on their scale. InfoTrie also assigned news stories about the company an news buzz score of 7 out of 10, indicating that recent news coverage is likely to have an effect on the company’s share price in the immediate future.
A number of research analysts have recently weighed in on CNQ shares. Royal Bank of Canada raised their target price on Canadian Natural Resource from C$55.00 to C$56.00 and gave the company an “outperform” rating in a report on Friday, November 2nd. Canaccord Genuity dropped their target price on Canadian Natural Resource from C$60.00 to C$55.00 in a report on Wednesday, October 24th. Morgan Stanley dropped their target price on Canadian Natural Resource from C$64.00 to C$60.00 in a report on Sunday, October 14th. Raymond James restated an “outperform” rating and issued a C$65.00 target price on shares of Canadian Natural Resource in a report on Friday, November 2nd. Finally, Cormark dropped their target price on Canadian Natural Resource from C$58.00 to C$55.00 in a report on Tuesday, October 9th. Five analysts have rated the stock with a buy rating, Canadian Natural Resource currently has an average rating of “Buy” and a consensus target price of C$57.92.
Shares of CNQ traded down C$1.02 on Friday, reaching C$37.16. 6,910,500 shares of the company’s stock traded hands, compared to its average volume of 3,054,210. The company has a quick ratio of 0.73, a current ratio of 1.02 and a debt-to-equity ratio of 66.02. Canadian Natural Resource has a 52-week low of C$35.31 and a 52-week high of C$49.08.
In related news, insider Ronald Keith Laing sold 2,600 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of C$41.82, for a total transaction of C$108,732.00. Also, insider Allan E. Frankiw sold 1,000 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of C$42.54, for a total value of C$42,540.00. Insiders have sold 7,800 shares of company stock valued at $329,695 over the last ninety days.
Canadian Natural Resource Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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