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Why Canadian Natural Resources (CNQ) Could Be Positioned for a Surge

Canadian Natural Resources Limited CNQ is a crude oil, natural gas, and natural gas liquids company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CNQ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Canadian Naturalcould be a solid choice for investors.

Current Quarter Estimates for CNQ

In the past 30 days, none of the estimates have gone higher and lower for Canadian Natural. The trend has been pretty favorable too, with estimates increasing from 63 cents a share 30 days ago, to 67 cents today, a move of 14.3%.

Current Year Estimates for CNQ

Meanwhile, Canadian Natural’scurrent year figures are also looking quite promising, with four estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 63 cents per share 30 days ago to 67 cents per share today, an increase of 6.3%.

Canadian Natural Resources Limited Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 8.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>


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Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report
 
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