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NYSE:CNQ

Canadian Natural Resources (CNQ) Stock Price, News & Analysis

$35.38
-0.17 (-0.48%)
(As of 06/12/2024 ET)
Today's Range
$35.27
$36.58
50-Day Range
$35.17
$41.17
52-Week Range
$26.33
$41.29
Volume
7.66 million shs
Average Volume
5.86 million shs
Market Capitalization
$37.86 billion
P/E Ratio
7.05
Dividend Yield
8.73%
Price Target
$47.00

Canadian Natural Resources MarketRank™ Stock Analysis

Analyst Rating
Hold
2.22 Rating Score
Upside/​Downside
32.8% Upside
$47.00 Price Target
Short Interest
Bearish
2.81% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-7.75
Upright™ Environmental Score
News Sentiment
0.76mentions of Canadian Natural Resources in the last 14 days
Based on 8 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
20.32%
From $5.56 to $6.69 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.66 out of 5 stars

Oils/Energy Sector

15th out of 235 stocks

Crude Petroleum & Natural Gas Industry

5th out of 73 stocks

CNQ stock logo

About Canadian Natural Resources Stock (NYSE:CNQ)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO). The company's midstream assets include two pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.

CNQ Stock Price History

CNQ Stock News Headlines

Exploring Top TSX Dividend Stocks In May 2024
15 Fastest-Growing Cities in Canada
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Company Calendar

Ex-Dividend for 4/5 Dividend
3/14/2024
Dividend Payable
4/05/2024
Last Earnings
5/02/2024
Today
6/13/2024
Ex-Dividend for 7/5 Dividend
6/17/2024
Dividend Payable
7/05/2024
Next Earnings (Estimated)
8/01/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Crude petroleum & natural gas
Sub-Industry
N/A
Employees
10,272
Year Founded
1989

Price Target and Rating

Average Stock Price Target
$47.00
High Stock Price Target
$51.00
Low Stock Price Target
$42.50
Potential Upside/Downside
+32.8%
Consensus Rating
Hold
Rating Score (0-4)
2.22
Research Coverage
9 Analysts

Profitability

Net Income
$6.10 billion
Pretax Margin
22.80%

Debt

Sales & Book Value

Annual Sales
$30.25 billion
Cash Flow
$5.15 per share
Book Value
$27.50 per share

Miscellaneous

Outstanding Shares
1,070,000,000
Free Float
1,016,504,000
Market Cap
$37.86 billion
Optionable
Optionable
Beta
1.50

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Key Executives

  • Mr. Norman Murray Edwards O.C. (Age 64)
    Executive Chairman
    Comp: $8.5M
  • Mr. Scott G. Stauth (Age 58)
    President & Director
    Comp: $2.78M
  • Mr. Mark A. Stainthorpe C.F.A. (Age 46)
    CFO & Senior VP of Finance
    Comp: $1.88M
  • Robin Sean Zabek (Age 52)
    Chief Operating Officer of Exploration & Production
    Comp: $945.16k
  • Victor Clinton Darel C.A. (Age 42)
    CPA, Senior VP of Finance & Principal Accounting Officer
  • Lance J. Casson
    Manager of Investor Relations
  • Brenda Gayle Balog
    VP of Legal & General Counsel
  • Mr. Ronald Keith Laing (Age 54)
    Senior Vice-President of Corporate Development & Land
  • Mark Anthony Overwater (Age 56)
    Vice-President of Marketing
  • Dean W. Halewich (Age 56)
    Senior Vice-President of Safety, Risk Management & Innovation

Should I Buy Canadian Natural Resources Stock? CNQ Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Canadian Natural Resources Limited:

  • Canadian Natural Resources Limited has shown consistent revenue growth over the past few quarters, indicating a strong financial performance.
  • The company has a low debt-to-equity ratio, which signifies a healthy balance sheet and lower financial risk.
  • Canadian Natural Resources Limited offers a competitive dividend yield, providing investors with a steady income stream.
  • Recent developments in the energy sector have positively impacted the stock price of Canadian Natural Resources Limited, offering potential capital gains to investors.
  • The company's strong position in the market and diversified portfolio reduce exposure to volatility in specific sectors, enhancing stability for investors.

Cons

Investors should be bearish about investing in Canadian Natural Resources Limited for these reasons:

  • Fluctuations in commodity prices, especially in the oil and gas sector, can directly impact the company's profitability and stock performance.
  • Environmental regulations and concerns surrounding the energy industry may pose long-term challenges for Canadian Natural Resources Limited.
  • Market volatility and geopolitical factors can influence the company's operations and financial results, leading to uncertainty for investors.
  • Canadian Natural Resources Limited's dependency on global economic conditions exposes it to risks associated with economic downturns or recessions.
  • Investors need to closely monitor the company's capital expenditure plans and cost management strategies to ensure sustainable growth and profitability.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, June 2, 2024. Please send any questions or comments about these Canadian Natural Resources pros and cons to contact@marketbeat.com.

CNQ Stock Analysis - Frequently Asked Questions

Should I buy or sell Canadian Natural Resources stock right now?

9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Canadian Natural Resources in the last twelve months. There are currently 7 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" CNQ shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CNQ, but not buy additional shares or sell existing shares.
View CNQ analyst ratings
or view top-rated stocks.

What is Canadian Natural Resources' stock price target for 2024?

9 Wall Street research analysts have issued twelve-month target prices for Canadian Natural Resources' shares. Their CNQ share price targets range from $42.50 to $51.00. On average, they expect the company's share price to reach $47.00 in the next twelve months. This suggests a possible upside of 32.8% from the stock's current price.
View analysts price targets for CNQ
or view top-rated stocks among Wall Street analysts.

How have CNQ shares performed in 2024?

Canadian Natural Resources' stock was trading at $32.76 at the beginning of the year. Since then, CNQ shares have increased by 8.0% and is now trading at $35.38.
View the best growth stocks for 2024 here
.

Are investors shorting Canadian Natural Resources?

Canadian Natural Resources saw a increase in short interest in the month of May. As of May 31st, there was short interest totaling 58,810,000 shares, an increase of 127.3% from the May 15th total of 25,870,000 shares. Based on an average trading volume of 5,550,000 shares, the days-to-cover ratio is presently 10.6 days. Currently, 2.8% of the shares of the company are sold short.
View Canadian Natural Resources' Short Interest
.

When is Canadian Natural Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, August 1st 2024.
View our CNQ earnings forecast
.

How were Canadian Natural Resources' earnings last quarter?

Canadian Natural Resources Limited (NYSE:CNQ) released its quarterly earnings results on Thursday, May, 2nd. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.01. The oil and gas producer had revenue of $6.12 billion for the quarter, compared to analysts' expectations of $6.01 billion. Canadian Natural Resources had a net margin of 18.21% and a trailing twelve-month return on equity of 20.58%.

How often does Canadian Natural Resources pay dividends? What is the dividend yield for Canadian Natural Resources?

Canadian Natural Resources announced a quarterly dividend on Thursday, May 2nd. Shareholders of record on Monday, June 17th will be paid a dividend of $0.777 per share on Friday, July 5th. This represents a $3.11 annualized dividend and a dividend yield of 8.78%. The ex-dividend date is Monday, June 17th. This is a positive change from the stock's previous quarterly dividend of $0.77.
Read our dividend analysis for CNQ
.

Is Canadian Natural Resources a good dividend stock?

Canadian Natural Resources (NYSE:CNQ) pays an annual dividend of $3.09 per share and currently has a dividend yield of 4.36%. CNQ has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 23 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 61.55%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CNQ will have a dividend payout ratio of 46.19% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CNQ.

When did Canadian Natural Resources' stock split?

Canadian Natural Resources shares split on Tuesday, June 11th 2024. The 2-1 split was announced on Tuesday, June 11th 2024. The newly created shares were payable to shareholders after the closing bell on Tuesday, June 11th 2024. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

What is Tim S. McKay's approval rating as Canadian Natural Resources' CEO?

6 employees have rated Canadian Natural Resources Chief Executive Officer Tim S. McKay on Glassdoor.com. Tim S. McKay has an approval rating of 96% among the company's employees. This puts Tim S. McKay in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Canadian Natural Resources own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Canadian Natural Resources investors own include Pfizer (PFE), Intel (INTC), Micron Technology (MU), AbbVie (ABBV), Bank of America (BAC), Gilead Sciences (GILD), QUALCOMM (QCOM), AT&T (T), Cisco Systems (CSCO) and Suncor Energy (SU).

Who are Canadian Natural Resources' major shareholders?

Canadian Natural Resources' stock is owned by many different institutional and retail investors. Top institutional investors include Capital World Investors (13.46%), Capital Research Global Investors (7.35%), Vanguard Group Inc. (4.09%), TD Asset Management Inc (2.02%), Canada Pension Plan Investment Board (2.00%) and 1832 Asset Management L.P. (1.44%).

How do I buy shares of Canadian Natural Resources?

Shares of CNQ stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:CNQ) was last updated on 6/13/2024 by MarketBeat.com Staff

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