Wall Street Bullish on Canadian Natural Resources (CNQ), Here's Why?

Canadian Natural Resources Limited (NYSE:CNQ) is one of the Best TSX Stocks to Buy According to Billionaires. Wall Street remains bullish on the stock after the company posted mixed results for its fiscal second quarter of 2025. The company posted a revenue of $6.33 billion, which decreased 3% year-over-year and fell short of expectations by $98.58 million. However, the EPS of $0.52 topped consensus by $0.02.

Canadian Natural Resources Limited (NYSE:CNQ) achieved some notable business developments during the quarter. Management noted completing the planned turnaround at its Athabasca Oil Sands Project five days early and on budget. The turnaround activities led to a reduced quarterly production by about 120,000 barrels per day. However, despite this, the company achieved quarterly production volumes totaling approximately 1,420  MBOE/d, up around 135,000 BOE/d from the prior year.

Several analysts have reiterated their bullish sentiment on the stock after the release. On August 7, Gregory Pardy from RBC Capital reiterated a Buy rating on the stock, while reducing the price target from C$64 to C$62. However, Michael Barth from Raymond James raised the price target on Canadian Natural Resources Limited (NYSE:CNQ) from C$41.82 to C$54, while reiterating a Buy rating on the stock.

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and natural gas producer operating mainly in Western Canada, the UK North Sea, and Offshore Africa.

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Disclosure: None. This article is originally published at Insider Monkey.