Profile
Sector:
EnergyIndustry:
Oil & Gas Equipment & ServicesCountry:
CanadaIPO:
31 July 2000Website:
http://www.cnrl.comNext earnings report:
28 February 2025Last dividends:
13 September 2024Next dividends:
13 December 2024Price
after hours | 9 min agoAnalysts recommendations
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CNQ Latest News
CNQ, CVX and KMI present an opportunity for long-term stability and reliable returns in the volatile energy space.
Canadian Natural Resources Limited (NYSE:CNQ ) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Lance Casson - IR Scott Stauth - COO, Oil Sands Mark Stainthorpe - CFO Conference Call Participants Dennis Fong - CIBC Neil Mehta - Goldman Sachs Greg Pardy - RBC Capital Markets Manav Gupta - UBS Menno Hulshof - TD Cowen Patrick O'Rourke - ATB Capital Markets Operator Good morning. We would like to welcome everyone to Canadian Natural's 2024 Third Quarter Earnings Conference Call and Webcast.
Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Scott Stauth, commented on the Company's third quarter results, "Our unique and diverse asset base provides us with a competitive advantage, as we can allocate capital to the highest return projects without being reliant on any one commodity. Our consistent and top tier results are driven by safe and reliable operations.
CNQ topped the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other.
The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.
Canadian Natural Resources' $6.5 billion acquisition of Chevron's Canadian assets enhances its production capacity and aligns well with existing operations, ensuring long-term growth. The acquisition, funded through cash, avoids dilution and strengthens shareholder returns, with 1.5 billion barrels of reserves and 122.5 thousand barrels/day production. The company boasts a diversified asset portfolio with substantial reserves, targeting significant production growth, supported by a stable $70/barrel WTI assumption.
American energy investors face persistent challenges, with recent price drops influenced by economic fears and geopolitical factors, particularly in the Permian Basin. The Permian has driven significant production growth, but it hasn't translated into strong shareholder value due to hypergrowth and declining reserve quality. Investors need to be selective in the energy sector, as many stocks may struggle. However, the right choices can lead to substantial long-term gains.
Amid concerns over cyclical fluctuations in the energy sector, dividends are flourishing. We delve into the recent payout increases from LBRT, CNQ and TTE.
CNQ delivers robust financial performance and shareholder returns, but be cautious of high valuations and sensitivity to commodity price fluctuations.
Canadian Natural Resources Limited is a top dividend stock with a 25-year track record of increasing dividends, boasting a 21% CAGR. CNQ's strong financials include a levered free cash flow margin of 24.19% and a net income margin of 20.88%, ensuring dividend sustainability. Recent acquisition of Chevron's Alberta assets and a 7% dividend increase highlight CNQ's strategic growth and commitment to shareholder value.
What type of business is Canadian Natural Resources Limited?
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.
What sector is Canadian Natural Resources Limited in?
Canadian Natural Resources Limited is in the Energy sector
What industry is Canadian Natural Resources Limited in?
Canadian Natural Resources Limited is in the Oil & Gas Equipment & Services industry
What country is Canadian Natural Resources Limited from?
Canadian Natural Resources Limited is headquartered in Canada
When did Canadian Natural Resources Limited go public?
Canadian Natural Resources Limited initial public offering (IPO) was on 31 July 2000
What is Canadian Natural Resources Limited website?
https://www.cnrl.com
Is Canadian Natural Resources Limited in the S&P 500?
No, Canadian Natural Resources Limited is not included in the S&P 500 index
Is Canadian Natural Resources Limited in the NASDAQ 100?
No, Canadian Natural Resources Limited is not included in the NASDAQ 100 index
Is Canadian Natural Resources Limited in the Dow Jones?
No, Canadian Natural Resources Limited is not included in the Dow Jones index
When was Canadian Natural Resources Limited the previous earnings report?
No data
When does Canadian Natural Resources Limited earnings report?
The next expected earnings date for Canadian Natural Resources Limited is 28 February 2025