|Bid||41.92 x 0|
|Ask||41.93 x 0|
|Day's Range||41.50 - 42.00|
|52 Week Range||30.11 - 49.08|
|Beta (3Y Monthly)||1.41|
|PE Ratio (TTM)||19.78|
|Earnings Date||May 9, 2019|
|Forward Dividend & Yield||1.38 (3.76%)|
|1y Target Est||47.00|
Canadian Natural Resources Ltd (TSX:CNQ)(NYSE:CNQ) stock was just slapped with another "buy" rating that projects 10% upside. With major industry headwinds, however, should investors really be buying this troubled stock?
Canadian Natural Resources Ltd (TSX:CNQ)(NYSE:CNQ) has bounced off the late 2018 lows, but more upside should be on the way. Here's why.
The landslide election win of a right-leaning, pro-energy industry party in Canada's main oil-producing province of Alberta signals momentum may be building against Prime Minister Justin Trudeau months ahead of a federal election in October. The United Conservative Party (UCP) trounced the left-leaning New Democratic Party (NDP) government in Tuesday's provincial election by tapping into frustration over the economy and a struggling oil and gas industry. "Alberta is open for business!" UCP leader Jason Kenney said in a victory speech in Calgary on Tuesday.
Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) and Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) are two top energy stocks that are heading much higher as Canadian oil prices soar.
Canadian Natural Resources Ltd. (TSX:CNQ) (NYSE:CNQ) continues to see strong cash flow and dividend growth, and with a dividend yield of 3.8% and an undervalued stock price, it makes a solid addition to your TFSA.
Investors are shunning Canadian energy stocks in the face of a rebound in oil prices that promises to deliver strong earnings from companies hardened by a rough 2018, according to money managers following the battered sector.
Canadian Natural Resources Limited (“Canadian Natural" or the "Company") announces in connection with its previously announced Normal Course Issuer Bid ("NCIB") to purchase up to 61,424,856 of its common shares (“Shares"), it entered into an Automatic Securities Purchase Plan ("ASPP") with a designated broker. The ASPP is intended to allow for the purchase of Shares under the NCIB when the Company would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.
CALGARY — A lack of capital for drilling coupled with rising exploration costs make it unsurprising that fewer players are operating in Western Canada's oil and gas fields, analysts say.A study from consulting firm XI Technologies of Calgary finds that almost 300 names have disappeared from a roster of all companies producing oil and gas in Western Canada since global oil prices began crashing at the end of 2014.A total of 1,334 active companies — privately held and foreign-owned entities as well as publicly traded firms — reported oil or gas production in Western Canada in December 2018, XI found.That's down 282 names or 17.5 per cent from 1,616 in the same month four years earlier, a shift that XI data solutions specialist Shovik Sengupta says points to a period of significant consolidation in the industry."There's no capital," said Tom Pavic, senior vice-president with Calgary-based Sayer Energy Advisors, when asked what he thinks is causing the shrinkage."There's an uptick in oil prices but we're not seeing it with the producers' stock price on the exchange.... No one wants to touch Canada because of all the uncertainty as it relates to pipelines."Most of the missing names are likely to be small players who haven't been able to win investor backing to pay for drilling expensive oil and gas wells in trendy unconventional resource oilfields like the Montney and Duvernay, added Sayer president Alan Tambosso.The loss of producer names is more stark among publicly traded issuers.As of Dec. 31, 2014, a total of 108 oil and gas companies with a market capitalization of $311 billion were listed on the Toronto Stock Exchange, while 229 smaller companies worth $5.1 billion resided on the TSX Venture Exchange.Four years later, the number on the senior exchange had fallen by 31 per cent to 72 with a market cap of $214 billion, and venture listings were off by 44 per cent to 119 companies worth $3.9 billion.The market for oil and gas corporate sales looked to be heating up last year but stalled on lower global oil prices over the summer and price discounts for western Canadian oil in the fall as production exceeded export pipeline capacity, said Stephanie Stimpson, a Calgary-based partner at law firm Torys LLP specializing in oil and gas mergers and acquisitions."It's really is about the access to capital here," she said."There are very few financings getting done. Certainly the junior sector is not able to raise capital now."She said recent transactions show even Canadian energy companies and pension funds often have a preference for putting their money in the United States oilpatch instead of investing at home.Going forward, M&A activity will depend on investor confidence, she said, which could swing up or down based on whether the Trans Mountain pipeline expansion is re-approved for construction this spring, as well as other factors including results from the Alberta provincial election next week.Sayer data shows total Canadian oil and gas M&A value in 2014 was $49.4 billion but it fell to $16 billion in 2015 and $12.1 billion last year.XI says the consolidation of companies in Western Canada has resulted in a greater number of subsidiaries for many larger producers.For example, it reports Calgary-based Canadian National Resources Ltd. — the largest listed producer in both 2014 and 2018 — doubled the number of subsidiary companies it operates in Western Canada from 77 to 135 over the four years, a period when it made numerous large and small acquisitions.In spite of the acquisitions, XI reported CNRL production fell from about 741,000 barrels of oil equivalent per day in December 2014 to 618,000 boe/d in the same month of 2018. Follow @HealingSlowly on Twitter. Companies in this article: (TSX:CNQ)Dan Healing, The Canadian Press
A look at the stats for Enbridge Inc. (TSX:ENB)(NYSE:ENB) shows that this oil and gas stock has what it takes to outride a recession.
You'll want to read this if you own these stocks: Canadian Natural Resources Ltd (TSX:CNQ)(NYSE:CNQ), Northern Dynasty Minerals Ltd (TSX:NDM), and BRP Inc (TSX:DOO)(NASDAQ:DOOO).
CALGARY — Global energy giant Royal Dutch Shell is urging Canada's largest oil and gas organization to get off the fence and support both the Paris climate accord and the pricing of carbon to encourage greenhouse gas emission reductions.But the head of the Canadian Association of Petroleum Producers says his organization is more concerned with policy implementation and outcomes than it is about making blanket endorsements of specific initiatives.In a new report, Shell says it has reviewed its relationships with 19 industry associations around the world and decided not to renew its membership in one of them, the American Fuel & Petrochemical Manufacturers, because of "material misalignment."It found "some misalignment" with nine others, including Calgary-based CAPP, which represents all the major oil and gas producers in Canada.In the report, Shell says CAPP is out of line because it doesn't comment on the Paris accord, nor does it publicly support federal and provincial carbon pricing frameworks in Canada, both of which Shell strongly endorses.It adds that it is aligned with CAPP, however, on support of Canada's climate targets and policies that encourage technology and innovation to address climate change, as well as on the use of natural gas as an energy source and properly managing methane."Shell has found some differences in climate-related policy positions with CAPP, such as our public support for carbon pricing, and instances where our positions have diverged on specific climate policies," it concludes."Taking into account the broader value of our membership, we remain a committed member of CAPP. We will continue to engage with the association and closely monitor our alignment on climate-related topics."Shell Canada President Michael Crothers said it remains committed to CAPP and believes CAPP makes a valuable contribution as an industry voice on critical upstream topics including climate, carbon leakage, air, land, water, health and safety, and engagement with Indigenous peoples."We value the open dialogue within the CAPP membership and we’ll continue to engage constructively on where we differ," he said.In an interview, CAPP CEO Tim McMillan said the association's policies are set by its board of governors, one of whom is Crothers, (he wouldn't say if Crothers has proposed any policy changes).CAPP supports the Paris accord's broad targets of reducing emissions and keeping global warming to less than two degrees Celsius but doesn't agree with certain aspects of the accord, including rules that have yet to be defined, he said."As far as reducing emissions and targeting for an increase of less than two (degrees), yeah, I think that's easy for everybody to support," he said.On carbon pricing, which includes the federal carbon tax that began on Monday, McMillan said CAPP isn't interested in picking just one solution to a complex problem."In Canada, we have cap-and-trade, we have a price on carbon in some jurisdictions, we have a regulatory approach in some jurisdictions and we have a blended approach in some jurisdictions," he said."All of those are potentially effective and efficient tools and, potentially, all of those can be implemented in a way that's inefficient, so we're neither for nor against any particular one of those. We just want to see the outcomes."CAPP members produce about 80 per cent of the oil and gas in Canada.Shell sold most of its oilsands assets to Canadian Natural Resources Ltd. in 2017 but still owns 10 per cent of the Athabasca Oil Sands Project mine in northern Alberta, as well as the Edmonton-area Scotford refinery and chemicals plants.It's also one of the partners in the $40-billion LNG Canada facility being built on the West Coast. Follow @HealingSlowly on Twitter. Companies in this story: (TSX:CNQ) Dan Healing, The Canadian Press
Canadian Natural Resources Ltd (TSX:CNQ)(NYSE:CNQ) and another two top Canadian stocks might not be obvious picks for a TFSA retirement portfolio. Here's why that might change.
Berkshire Hathaway Inc. (NYSE:BRK.A)(NYSE:BRK.B) has built immense value for shareholders. Can Canadian Natural Resources Ltd (TSX:CNQ)(NYSE:CNQ) do the same for energy investors?
Canadian Natural Resources Ltd. (TSX:CNQ) (NYSE:CNQ) is one of three energy stocks to own for retirement income and strong upside to rising oil prices.
Have you been keeping an eye on Canadian Natural Resources Limited's (TSE:CNQ) upcoming dividend of CA$0.38 per share payable on the 01 April 2019? Then you only have 3 daysRead More...
Read this article now if you own Canadian Natural Resources Ltd (TSX:CNQ)(NYSE:CNQ) or Cenovus Energy Inc (TSX:CVE)(NYSE:CVE).
Comparing stocks like TORC Oil & Gas Ltd. (TSX:TOG) with major industry players yields some interesting data for dividend investors.
The federal and Alberta governments are pledging almost $90 million to fund clean technology developments at major oilsands producer Canadian Natural Resources Ltd. The commitments are expected to result in a total investment of $415 million in three projects. More than half of the federal commitment of $72.3 million, about $45 million, will go to Titanium Corp., a company working with Canadian Natural on a technology to recover valuable minerals and residual bitumen while remediating tailings at the Horizon oilsands mine in northern Alberta.