Canadian Natural Resource (CNQ) Stock Down as Analysts Expect Q1 Loss

NEW YORK (TheStreet) --Shares of Canadian Natural Resource (CNQ) are slipping by 1.28% to $27.87 on Wednesday afternoon, as analysts are expecting the energy company to post a net loss for the 2016 first quarter.

The company will release the financial results for the quarter before the market open on Thursday.

Analysts surveyed by Thomson Reuters have forecast for a loss of 55 cents per share on revenue of $2.14 billion for the most recent quarter.

The company reported earnings of 2 cents per share on revenue of $3.03 billion for the 2015 first quarter.

Oil producers, such as Calgary-based Canadian Natural Resources, have been struggling in recent years due to the global oversupply of oil.

Also pressuring shares today is the drop in oil prices. The commodity is trading in the red, giving back today's earlier gains as U.S. crude supplies grew to fresh highs last week.

U.S. crude stockpiles increased to 2.8 million barrels last week, according to government data, Reuters reports.

Separately, TheStreet Ratings has set a "sell" rating and a score of D+ on Canadian Natural Resources stock. This is driven by multiple weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.

The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and weak operating cash flow.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CNQ

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