"CNQ has a high-quality asset base, with a growing exposure to the Canadian oil sands and top-tier production growth potential," analysts said.
While the company reported weak first quarter results earlier this month, analysts remain positive. Canadian Natural Resources reported earnings of 2 cents per share on revenue of $3.03 million, compared to earnings of 85 cents per share on revenue of $4.4 million the same quarter a year ago.
The company said a significant fall in oil price hurt its results, but the loss was partially offset by record production.
Based in Calgary, Alberta, Canadian Natural Resources is an oil and gas exploration, development and production company.
In Thursday's early morning trading, shares of Canadian Natural Resources CNQ are falling by 0.33% to $30.36.
TheStreet Ratings team rates CANADIAN NATURAL RESOURCES as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CANADIAN NATURAL RESOURCES (CNQ) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself."