CNQ.TO - Canadian Natural Resources Limited
| Previous Close | 25.10 |
| Open | 26.00 |
| Bid | 25.18 x N/A |
| Ask | 25.21 x N/A |
| Day's Range | 25.10 - 26.12 |
| 52 Week Range | 9.80 - 42.57 |
| Volume | 7,577,038 |
| Avg. Volume | 9,861,798 |
| Market Cap | 29.781B |
| Beta (5Y Monthly) | 2.14 |
| PE Ratio (TTM) | 9.44 |
| EPS (TTM) | 2.67 |
| Earnings Date | Jul. 30, 2020 - Aug. 03, 2020 |
| Forward Dividend & Yield | 1.70 (6.77%) |
| Ex-Dividend Date | Jun. 11, 2020 |
| 1y Target Est | 29.22 |
- The Motley Fool
1 TSX Energy Stock to Take Shelter With as Oil Price Rally Peaks
This TSX energy stock is well placed compared to peers if the crude oil price drops again. Its dividends and valuation stand tall in the sector. The post 1 TSX Energy Stock to Take Shelter With as Oil Price Rally Peaks appeared first on The Motley Fool Canada.
- The Motley Fool
Dividend Investors: Will This Energy Stock Cut Its 6.6% Dividend Yield?
Despite the declining year-over-year revenues and earnings, Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) is committed to maintaining its dividend.The post Dividend Investors: Will This Energy Stock Cut Its 6.6% Dividend Yield? appeared first on The Motley Fool Canada.
- The Motley Fool
Value Investors: 2 Cheap Dividend Stocks With 50% Upside Potential
There are still cheap TSX Index stocks for value investors to buy today. The post Value Investors: 2 Cheap Dividend Stocks With 50% Upside Potential appeared first on The Motley Fool Canada.
- Thomson Reuters StreetEvents
Edited Transcript of CNQ.TO earnings conference call or presentation 7-May-20 2:00pm GMT
Q1 2020 Canadian Natural Resources Ltd Earnings Call
- The Canadian Press
Sturgeon Refinery says it is processing bitumen after two years of delays
CALGARY — The operators of the $9.7-billion Sturgeon Refinery say it is now processing oilsands bitumen as designed after two years of delays blamed mainly on equipment failures.According to an update on its website, the refinery northeast of Edmonton is "now fully operational," having switched to bitumen feedstock in April for its production of diesel and other fuels.Construction was completed on the refinery in the fall of 2017 and it was to begin processing as much as 80,000 barrels per day of heavy bitumen in early 2018 after starting up with partly upgraded synthetic crude from oilsands mines.But that was delayed by issues with equipment including its gasifier, a unit designed to break down the heavier parts of the bitumen barrel to make hydrogen for the refining process and carbon dioxide for use in stimulating conventional oil and gas wells.Following a maintenance shutdown late last year, the refinery was restarted, again using synthetic crude feedstock while preparing for startup of the gasifier.The refinery is a joint venture of North West Refining and oilsands producer Canadian Natural Resources Ltd., which is to provide 25 per cent of its bitumen feedstock. The rest of the feedstock is to come from the Alberta government-owned Alberta Petroleum Marketing Commission.This report by The Canadian Press was first published May 21, 2020.Companies in this story: (TSX:CNQ) The Canadian Press
- The Motley Fool
Oil Prices Soar: 3 Top Energy Stocks to Buy Now
As oil prices soar, buy quality energy stocks Enbridge, Suncor, and Canadian Natural Resources for strong portfolio returns.The post Oil Prices Soar: 3 Top Energy Stocks to Buy Now appeared first on The Motley Fool Canada.
- Zacks
Why Canadian Natural (CNQ) Gains 18% Post Q1 Earnings Release
Canadian Natural's (CNQ) first-quarter output of 1,178,752 barrels of oil equivalent per day rises 13.9% from the prior-year quarter's level.
- The Motley Fool
Top Canadian Oil Stocks Are Rebounding: Time to Buy?
Recovering oil demand makes a strong case for buying Canada's top oil stocks, which are better positioned to weather this storm.The post Top Canadian Oil Stocks Are Rebounding: Time to Buy? appeared first on The Motley Fool Canada.
- Bloomberg
Saudi Wealth Fund Builds Stakes in Canadian Oil Sands Giants
(Bloomberg) -- Saudi Arabia’s sovereign wealth fund built stakes in two major Canadian oil sands players during the energy market rout.The Public Investment Fund amassed shares in Calgary-based Canadian Natural Resources Ltd. and Suncor Energy Inc., with a 2.6% and 2% stake in the companies, respectively. PIF is now the eighth largest shareholder in Canadian Natural and 14th largest in Suncor, according to data compiled by Bloomberg.The fund also bought stakes in Equinor ASA, Royal Dutch Shell Plc, Total SA and Eni SpA, according to a Bloomberg report earlier in April. Saudi Arabia’s $320 billion sovereign wealth fund is run by Yasir Al-Rumayyan and controlled by Crown Prince Mohammed bin Salman.Read more: Saudi Wealth Fund Builds Stakes in European Energy GiantsThe Saudi purchase is disclosed at a time when Norway’s wealth fund is dumping oil-sands companies. The latter said this week it will exclude Canadian Natural, Cenovus Energy Inc., Suncor, and Imperial Oil Ltd. over concerns about carbon emissions.Canadian oil producers have announced that almost 700,000 barrels per day of oil production is offline amid low prices and weak demand because of the coronavirus pandemic.Shares of Canadian Natural have lost 43% this year, while Suncor is down 46% versus a 15% drop for the S&P/TSX Composite Index.Suncor elected to slash its quarterly dividend 55% earlier this month, while Canadian Natural maintained its current payout.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- The Canadian Press
Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (14,638.90 , up 129.24 points.)Aurora Cannabis Inc. (TSX:ACB). Health care. Up $6.15, or 66.85 per cent, to $15.35 on 18 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 37 cents, or 3.66 per cent, to $10.49 on 7.8 million shares.B2Gold Corp. (TSX:BTO). Materials. Up 26 cents, or 3.53 per cent, to $7.62 on 7.3 million shares.Aphria Inc. (TSX:APHA). Health care. Up 49 cents, or 11.64 per cent, to $4.70 on 7.1 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 85 cents, or 3.67 per cent, to $23.99 on 6.8 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Up 27 cents, or 5.47 per cent, to $5.21 on 6.3 million shares.Companies in the news:Aurora Cannabis Inc. — Canadians have slowed their buying frenzy when purchasing pot amid the pandemic, said cannabis company executives. Aurora Cannabis Inc. noticed the COVID-19 boom in cannabis sales dissipating, said Michael Singer, interim chief executive. After the industry was deemed an essential service in several provinces, he said, things went back down to pre-pandemic levels in April. In Aurora's third quarter, which ended on March 31 and encompassed the first weeks many Canadians spent working from home as well as physical distancing, the Edmonton-based company sold 12,729 kilograms of cannabis, amounting to 39 per cent more than the quarter before.Chorus Aviation Inc. (TSX:CHR). Down 18 cents, or seven per cent, to $2.39. Chorus Aviation Inc. says it's focused on cost cutting as it reports a first-quarter loss as the COVID-19 outbreak significantly disrupts the airline industry. The regional aviation company says it had a net loss of $17.3 million for the quarter ending March 31 compared with earnings of $33.45 million last year as net income decreased $50.7 million due to a change in net unrealized foreign exchange losses. Chorus says adjusted net income was $25 million, up from $19 million last year, as it started off the year in a good financial shape before the pandemic hit.Onex Corp. (TSX:ONEX). Up 71 cents, or 1.2 per cent, to $60.90. Onex Corp. says it swung to a significant loss in the first quarter as a result of market volatility and economic disruption from the COVID-19 outbreak. The investment management firm says it had a net loss of US$1.1 billion for the quarter ending March 31, compared with net earnings of $195 million last year. The Toronto-based firm says $985 million of the losses were from its investing segment as the pandemic pushed down markets in March and created a broad net decline in the fair value of its underlying portfolio investments. Onex says the decrease in fair value of its investments ranged from declines of between one and 77 per cent.Air Canada (TSX:AC). Down 60 cents, or 3.9 per cent, to $14.62. The union representing Air Canada flight attendants says the airline is set to ask employees to work less — or not at all — as concerns over job security buffet the airline industry. An internal bulletin to members from the Canadian Union of Public Employees says Air Canada will ask workers to slash their schedules, go on leave for up to two years or resign with travel privileges. The bulletin, sent out Thursday night, says CUPE is in discussions with Air Canada over continuing the federal wage subsidy, which the airline has not committed to maintain past June 6.This report by The Canadian Press was first published May 15, 2020.The Canadian Press
- The Motley Fool
Warning: 2 Dividends That Could Be Next on the Chopping Block!
Canadian Natural Resources Inc. (TSX:CNQ)(NYSE:CNQ) and another blue-chip TSX dividend stock that could be next in line to cut their dividends.The post Warning: 2 Dividends That Could Be Next on the Chopping Block! appeared first on The Motley Fool Canada.
- The Motley Fool
Want to Retire Wealthy? Make These 3 TFSA Market Crash Moves
A market crash shouldn’t be a hindrance to save up and retire wealthy. The key is to keep a dividend all-star like the Canadian Natural Resources stock in a TFSA for tax-free money growth.The post Want to Retire Wealthy? Make These 3 TFSA Market Crash Moves appeared first on The Motley Fool Canada.
- Bloomberg
Oil Sands Virus Outbreak Expands to Canadian Natural’s Horizon
(Bloomberg) -- The coronavirus challenge facing Canada’s oil sands grew with a new outbreak in Canadian Natural Resources Ltd.’s Horizon site.Five cases of Covid-19 have been identified that are linked to the Northern Alberta oil sands mine and crude upgrader, Dr. Deena Hinshaw, chief medical officer of health for the province, said in a press conference Wednesday. Horizon is the second oil sands site to register an outbreak after Imperial Oil Ltd.’s Kearl mine’s first cases in mid-April. The Kearl outbreak has grown to 107 cases as of Wednesday, Hinshaw said.The pandemic is hitting the world’s third-largest crude reserve at a time when several operations undergo maintenance that typically requires thousands of workers to fly in and lodge in close quarters at remote camps. Both Horizon and Kearl are currently going through repair work. The fact that the pandemic has largely been contained to two work sites out of hundreds across the province indicates that producers have done a good job at preventing infections, Alberta Premier Jason Kenney said Wednesday in the press conference.“This is very limited,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- GlobeNewswire
Canadian Natural Resources Limited Reports Voting Results at Annual General Meeting
CALGARY, Alberta, May 11, 2020 -- Canadian Natural held its Annual General Meeting of the Shareholders on May 7, 2020. The result of the vote by shareholders for each.
- The Motley Fool
Suncor (TSX:SU) or CNRL (TSX:CNQ): Should You Buy These Top Energy Stocks?
Suncor (TSX:SU) and CNRL (TSX:CNQ) appear cheap right now. Is one stock a better buy?The post Suncor (TSX:SU) or CNRL (TSX:CNQ): Should You Buy These Top Energy Stocks? appeared first on The Motley Fool Canada.
- Motley Fool
Canadian Natural Resources Ltd (CNQ) Q1 2020 Earnings Call Transcript
With me this morning are Tim McKay, our President, Scott Stauth, Chief Operating Officer for Oil Sands, Darren Fichter, Chief Operating Officer for Exploration and Production, and Mark Stainthorpe, Chief Financial Officer. Few, if any of our peers, can deliver sustainable cash flow.
- Bloomberg
Energy Sector Cuts Blow Oil-Sands-Sized Hole in Alberta Economy
(Bloomberg) -- For Alberta’s economy this year, it’s almost as if the oil sands have gone missing.Canadian energy companies ranging from oil and gas producers to pipeline operators and service companies have announced plans to cut as much as C$11.4 billion ($8.1 billion) in capital spending, with giants Suncor Energy Inc. and Canadian Natural Resources Ltd. each disclosing their second rounds of reductions this week.Those reductions would amount to more than the entire C$10.7 billion invested in oil-sands production last year. An industry group had forecast a similar level of spending in 2020.In other words, spending cuts across the Canadian energy sector have been so vast, they effectively cancel out all the new capital that oil-sands growth was expected to bring into Alberta this year -- before the crude price crash forced companies to rewrite their plans.The effect of those spending reductions showed up in a dismal employment report Friday. The province lost 243,800 jobs in April and the unemployment rate spiked to 13.4%, the highest of Canada’s four western provinces, Statistics Canada said. While the oil sands will still employ tens of thousands of people and produce millions of barrels of oil a day, providing billions of dollars in tax revenue, it’s their spending that, to a large extent, had made Alberta’s economy tick for years. Plus, that tax income will be significantly less than the province had expected when benchmark oil traded above $60 a barrel in New York early this year, with prices at $25 now.Thousands of mechanics, truck drivers, welders and backhoe operators will be out of work, and scores of white-collar experts and investors won’t be flying in like they used to, with a devastating domino effect on sectors like real estate and retail. All that on top of the economic tsunami caused by the global virus outbreak.“Every company has reduced its capital spending, so I view it as bad for Canada in the sense that it has jobs attached to it,” Canadian Natural President Tim McKay said in an interview. “Spending drives the economy, and if people have jobs, then they spend their money on goods and services.”It’s possible that the actual amount of cuts in 2020 could be less drastic, but they will have a huge economic impact either way. At the low end of companies’ announcements so far, about C$8.5 billion in capital spending would be reduced.In any case, the cuts dash hopes for a long-awaited revival of spending in the sector. The Canadian Association of Petroleum Producers had estimated overall oil and gas capital spending this year would rise 5.4% to C$37 billion. Oil-sands spending had been expected to climb 8.4%, the first gain in five years.(Adds employment report figures in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Canadian Natural Resources (CNQ) Reports Q1 Loss, Misses Revenue Estimates
Canadian Natural Resources (CNQ) delivered earnings and revenue surprises of -575.00% and -7.13%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
- The Canadian Press
Canadian Natural surprises by maintaining dividend while cutting spending
CALGARY — Operating costs and production levels are set to fall at Canadian Natural Resources Ltd. but, unlike many of its peers, the company left its long-standing dividend intact and took no asset impairment charges in its first-quarter report on Thursday.The move to leave its quarterly dividend at 42.5 cents per share surprised analysts, who questioned its sustainability given low oil prices and refinery cutbacks as the COVID-19 pandemic reduces fuel demand throughout North America.In its 20th consecutive annual increase, the company raised the investor payouts by 13 per cent just two months ago.On Wednesday, fellow oilsands giant Suncor Energy Inc. cut its quarterly dividend by 55 per cent to 21 cents per share after 18 years of consecutive annual increases."The board of directors has shown confidence in the company's assets and ability to deliver strong and sustainable cash flow by maintaining the current quarterly dividend," said Canadian Natural chief financial officer Mark Stainthorpe on a conference call."With low break-even pricing, the dividend remains sustainable."Suncor CEO Mark Little said Wednesday the dividend cut was part of a strategy, along with cost cutting, to bring the company's targeted break-even point to US$35 per barrel from US$45 on a cash flow basis.Canadian Natural president Tim McKay said Thursday his company's break-even point is already between US$30 and US$31 per barrel.Maintaining the dividend will cost the company about $2 billion this year and it likely should have been reduced, noted National Bank analyst Travis Wood in a report.Analyst Phil Skolnick of Eight Capital, however, pointed out that Suncor outspent first-quarter cash flow after paying its dividend and Canadian Natural didn't, making the latter's dividend more affordable.Canadian Natural shares rose by about four per cent to $22.60 in early trading on the Toronto Stock Exchange but drifted lower, up 0.6 per cent at $21.86, at noon EDT.Production in the first quarter reached a record 1.18 million barrels of oil equivalent per day, the maximum allowed under ongoing Alberta government oil curtailments, Canadian Natural said, adding it maximized its output of upgraded crude from its oilsands mining operations.Oil production will fall this month by about 120,000 barrels per day through a combination of shutting down thermal oilsands and conventional oil wells to avoid low oil prices, and maintenance shutdowns at certain facilities, it added.The company officially withdrew its 2020 production guidance but said it still could meet its previous target range of 1.137 to 1.207 million boe/d under current commodity futures pricing.On the call, McKay estimated total volume reductions by the oil industry in Western Canada due to low prices likely add up to about one million barrels per day.After avoiding natural gas investments for several years, Canadian Natural said it will drill wells to add about 60 million cubic feet per day this year in response to strengthening prices as production falls in the United States.The company said it will cut its operating costs this year by $745 million compared with last year and will eliminate another $280 million from capital costs on top of its cut of more than $1 billion announced in March.It now expects capital spending to total $2.68 billion this year, down from its original budget of $4.05 billion.The company announced a first-quarter loss of $1.28 billion on lower commodity prices, compared with a profit of $961 million in the same period of 2019.On an adjusted basis, it lost $295 million, compared with an adjusted profit of $838 million a year ago.This report by The Canadian Press was first published May 7, 2020.Companies in this story: (TSX:CNQ)Dan Healing, The Canadian Press
- Yahoo Finance Canada
Canadian Natural Resources swings to $1.3B loss, abandons guidance
Canadian Natural Resources swung to a net loss of $1.28 billion or $1.08 per share as COVID-19 snuffed out oil demand and Saudi-Russian price aggression weighed on crude prices.
- GlobeNewswire
Canadian Natural Resources Limited Announces Quarterly Dividend
CALGARY, Alberta, May 07, 2020 -- Canadian Natural Resources Limited announces its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.425.
- GlobeNewswire
Canadian Natural Resources Limited Announces 2020 First Quarter Results
Canadian Natural is in a strong position. Currently the Company has approximately 6,000 employees working remotely and approximately 4,000 field personnel working under safety protocols to maintain safe reliable operations.
- Zacks
Should You Buy Canadian Natural (CNQ) Ahead of Earnings?
Canadian Natural (CNQ) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- Zacks
Production Growth to Aid Canadian Natural's (CNQ) Q1 Earnings
Contribution from acquired assets is expected to have placed Canadian Natural Resources (CNQ) well for significant output growth in the to-be-reported quarter.
