|Bid||39.23 x 800|
|Ask||39.24 x 800|
|Day's Range||38.45 - 39.49|
|52 Week Range||20.84 - 67.13|
|Beta (5Y Monthly)||1.63|
|PE Ratio (TTM)||18.78|
|Earnings Date||Oct. 27, 2020 - Nov. 02, 2020|
|Forward Dividend & Yield||1.68 (4.39%)|
|Ex-Dividend Date||Jul. 17, 2020|
|1y Target Est||50.85|
Canadian Natural Resources Ltd said on Monday it will buy smaller rival Painted Pony Energy Ltd for about C$461 million ($344.26 million) including debt, as Canada's biggest oil and gas producer seeks to expand its Western Canada acreage. Natural gas prices have come under pressure from reduced consumption as efforts to tackle the COVID-19 pandemic resulted in a drop in manufacturing activities, while cancelled LNG exports have led to high natural gas inventories. "This transaction also allows us to further insulate against natural gas costs in our oils sands operations and has minimal impact on the company's low overall corporate decline rate," said Canadian Natural President Tim McKay in a statement.
Shares of ConocoPhillips (NYSE: COP) fell 11% in July, according to data provided by S&P Global Market Intelligence. The main issue was the oil company's weak second-quarter results. For the second quarter, ConocoPhillips reported an adjusted loss of $1 billion, or $0.92 per share, which was short of analyst forecasts by $0.34 per share.
Like a shadow in the background that could suddenly leap to the front depending on how the light is cast, OPEC’s looming supply increase is threatening to shroud any bright fundamentals left in a pandemic-hit oil market that ended July trading up just $1 a barrel. The Saudi-led Organization of Petroleum Exporting Countries is due to restore 2 million barrels of oil a day to world markets under the terms of its deal on output restraint with non-members allies steered by Russia. New York-traded West Texas Intermediate, the benchmark for U.S. crude futures, settled Friday up 35 cents, or 0.9%, at $40.27 per barrel.