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CNQ

Canadian Natural

$30.58

-1.18 (-3.72%)

12:50
11/29/16
11/29
12:50
11/29/16
12:50

Heavy upside call buying in Canadian Resources Dec and Jan terms

Heavy upside call buying in Canadian Resources Dec and Jan terms. Shares off nearly 4%, matching the decline in oil, and calls lead puts 6:1 with most of the flow in Dec and Jan 34 calls, both of which saw sweep buyers a few minutes ago with shares near $30.41. Buyer paid 20c for nearly 6K Dec 34 calls, and 45c for nearly 3400 Jan 34s, both opening. Another 16K Dec 34c just printed 28c, opening.

CNQ Canadian Natural
$30.58

-1.18 (-3.72%)

08/19/16
BOFA
08/19/16
INITIATION
Target $38
BOFA
Buy
Canadian Natural initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Frank McGann reinstated coverage on Canadian Natural with a Buy rating and $38 price target.
08/05/16
MACQ
08/05/16
UPGRADE
MACQ
Outperform
Canadian Natural upgraded to Outperform from Neutral at Macquarie (yesterday)
Macquarie analyst Chris Feltin upgraded Canadian Natural to Outperform saying the combination of near-term Horizon additions, decreasing spending, and increasing free cash flows as key catalysts over the next several quarters.
06/16/16
RBCM
06/16/16
UPGRADE
RBCM
Top Pick
Canadian Natural upgraded on free cash flow, production outlook at RBC Capital
As noted earlier, RBC Capital upgraded Canadian Natural to Top Pick from Outperform. The firm says that the company's decision to continue with its Horizon expansion will result in free cash flow generation in 2017 and beyond, along with organic upstream production growth and leverage to rising oil prices.
06/16/16
RBCM
06/16/16
UPGRADE
RBCM
Top Pick
Canadian Natural upgraded to Top Pick from Outperform at RBC Capital

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