Canadian Natural Resources Limited (CNQ - Free Report) was a big mover last session, as the company saw its shares rise more than 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down 5.5% in the past one-month time frame.
The move came after the Premier of Alberta ordered the oil companies in the province to reduce production by 8.7%, to ramp up prices.
The company has seen three negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Canadian Natural currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the Oil and Gas - Exploration and Production - Canadian industry is Gran Tierra Energy Inc. (GTE - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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