National Bank Reaffirms Their Hold Rating on Canadian Natural (CNQ)

In a report released yesterday, Travis Wood from National Bank maintained a Hold rating on Canadian Natural, with a price target of C$47.00.

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According to TipRanks, Wood is a 5-star analyst with an average return of 28.1% and a 70.69% success rate. Wood covers the Energy sector, focusing on stocks such as Canadian Natural, Cenovus Energy, and Suncor Energy.

In addition to National Bank, Canadian Natural also received a Hold from Evercore ISI’s Stephen Richardson in a report issued on January 6. However, on January 2, Goldman Sachs maintained a Buy rating on Canadian Natural (NYSE: CNQ).

Based on Canadian Natural’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$9.52 billion and a net profit of C$600 million. In comparison, last year the company earned a revenue of C$10.4 billion and had a net profit of C$2.27 billion

Based on the recent corporate insider activity of 128 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CNQ in relation to earlier this year.