BMO Capital Believes Canadian Natural Res (TSX: CNQ) Won’t Stop Here

By Austin Angelo

Canadian Natural Res (TSX: CNQ), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Randy Ollenberger from BMO Capital rated Canadian Natural Res (TSX: CNQ) a Buy, setting a C$56 price target.

According to, Ollenberger is a 2-star analyst with an average return of 0.8% and a 55.3% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Spectra Energy Partners.

Currently, the analyst consensus on Canadian Natural Res is Strong Buy and the average price target is C$52.29, representing a 13.6% upside.

In a report issued on January 8, Canaccord Genuity also reiterated a Buy rating on the stock with a C$58 price target.

Canadian Natural Res’ market cap is currently C$56.04B and has a P/E ratio of 20.6.

Canadian Natural Resources Ltd. is a senior oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: North America; North Sea; Offshore Africa; Oil Sands Mining and Upgrading; Midstream; Abandonments; and Head Office.

The company’s shares closed on Thursday at C$46.05, close to its 52-week high of C$47.