Analyst Randy Ollenberger of BMO Capital maintained a Buy rating on Canadian Natural, with a price target of C$56.00.
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Randy Ollenberger has given his Buy rating due to a combination of factors that highlight Canadian Natural’s operational excellence and financial resilience. The company’s impressive scale and efficiency, particularly at the Albian Sands, demonstrate its ability to maintain industry-leading reliability and cost-effectiveness. This operational prowess is further supported by Canadian Natural’s substantial reserves and strategic asset management, which position it as a leader among its peers.
Moreover, Canadian Natural’s strong financial metrics, such as its low breakeven oil price and robust free cash flow profile, provide it with significant flexibility to sustain capital and dividends even in volatile market conditions. The company’s consistent execution and diverse production streams contribute to its premium valuation, making it an attractive investment opportunity. Trading slightly below the Canadian peer average in terms of EBITDA, Canadian Natural is well-positioned to deliver superior returns, justifying the Buy rating.
Ollenberger covers the Energy sector, focusing on stocks such as Imperial Oil, Suncor Energy, and Tourmaline Oil. According to TipRanks, Ollenberger has an average return of 11.6% and a 56.93% success rate on recommended stocks.
In another report released on July 11, Scotiabank also maintained a Buy rating on the stock with a C$54.00 price target.