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Stock impact report

Evercore Downgrades Canadian Natural (CNQ) as Higher Spending May Pressure Shareholder Returns [Yahoo! Finance]

Canadian Natural Resources Limited (CNQ) 
Last canadian natural resources limited earnings: 3/5 05:00 am Check Earnings Report
US:NYSE Investor Relations: cnrl.com/investor-information
Company Research Source: Yahoo! Finance
On January 6, Evercore ISI analyst Stephen Richardson downgraded Canadian Natural Resources Limited (NYSE:CNQ) to In Line from Outperform, while keeping his price target unchanged at C$50. In his note, Richardson said the company faces more risk going forward, mainly because rising capital spending could pressure the amount of cash it can return to shareholders. Evercore said Canadian Natural is entering a major phase of organic investment and shifting more aggressively toward growth from the oil sands. The firm believes that this pivot, while strategic, could limit shareholder returns in the near term since more cash will be directed toward funding the growth program. In other news, Reuters reported on January 14, citing The Globe and Mail, that Canadian Natural Resources Limited (NYSE:CNQ) is in talks to acquire a portfolio of natural gas assets from Tourmaline Oil Corp. valued at more than $1 billion. Competition Bureau Canada's website showed that Canadian Natural filed paper Show less Read more
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