-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下： CNQ公布的调整后每股收益为1.17加元，与去年同期持平，但高于市场普遍预期的1.06加元。总产量增长4%至164万桶油当量/日，主要得益于收购和新增热井平台。由于西海岸天然气价差扩大至14.12美元/桶，抵消了产量增长和天然气价格走强的影响，调整后资金流下降3%至43.7亿加元；同时，由于计划弃井，国际产量下降了61%。公司将2026年产量预期上调至161.5万至166.5万桶油当量/日，并将运营资本支出预期从63亿加元下调至59.9亿加元，这表明公司采取了审慎的资本配置策略。管理层保持了强劲的财务灵活性，拥有61.7亿加元的流动资金，债务账面比率为26.6%，处于目标范围内。在回购3.11亿加元股票的同时，季度股息提高了6%至每股0.625加元。我们认为，将日产量预期提高1.5万桶油当量是积极的，尽管净资本支出增加导致自由现金流显著下降，这反映了公司近期将投资重点放在增长型资产上。
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