Canadian Natural Resources Ltd. was downgraded to neutral from buy at Citi Research as the firm's commodities team cut its oil price outlook following the recent Organization of the Petroleum Exporting Countries meeting.
Back in early November, Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) released its 2015 capital spending budget. The plan called for total expenditures of $8.6 billion, a decrease of 28% relative to 2014.
Just recently, Canada's second largest energy company, Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ), announced that it has cut its 2015 capital budget because of significantly weaker oil prices.
Canadian Natural Resources Limited logo Equities research analysts at RBC Capital decreased their target price on shares of Canadian Natural Resources Limited (TSE:CNQ) from C$44.00 to C$43.00 in a research note issued to investors on Tuesday.