RBC Capital Markets on Monday retained Canadian Natural Resources' (CNQ.TO) outperform rating and C$80 price target ahead of the release of the company's first-quarter results.
RBC expects CNQ to book operating earnings of $0.83 per share, compared to the Street forecast of $1.04.
RBC estimated CNQ's production at 1.6 million barrels of oil equivalent per day, in line with the Street forecast.
RBC's capital expenditure estimate of $1.50 billion was also in line with the Street projection of $1.45 billion.
CNQ is RBC's favorite senior producer and is part of RBC's Global Energy Best Ideas list.
CNQ traded at $65.24 per share at last look Tuesday on the Toronto Stock Exchange.
Price: $64.88, Change: $+0.13, Percent Change: +0.20%