$CNQ.TO

5 stories mentioning CNQ.TOUpdated 47d ago

Every FINWIRES story that references CNQ.TO, newest first.

Canadian Natural Resources Upgraded to Outperform at Raymond James

Canadian Natural Resources (CNQ.TO, CNQ) was upgraded to Outperform from Market Perform at Raymond James.Analyst Michael Barth raised his price target on shares of the Canadian oil and gas company to $67 from $65 following its quarterly results on Thursday."The stock is now nearly back to the levels we saw before the Iran conflict started," Barth said in a note to clients."Over the same period, we've seen SCO premiums start to emerge, which is largely a CNQ-specific tailwind, and causes us to revise our FY26/27 AFFO estimates higher," the analyst said."With higher estimates (and continued macro tightness), we have better visibility to CNQ achieving their long-term net debt target by the end of the year while simultaneously materially increasing shareholder returns."

$CNQ$CNQ.TO

Mining & Metals50d ago

Canadian Natural Resources Maintained at Hold at TPH After Q1 Results; Price Target at C$70.00

Tudor, Pickering, Holt on Thursday maintained its hold rating on the shares of Canadian Natural Resources (CNQ.TO, CNQ) with a C$70.00 price target following first-quarter results from the country's No.1 oil producer."While generally expected given net debt levels exiting 2025, highlights from the overall update include the formal step-up in return-of-capital alongside the ~4% beat on Q1 cash flow. On Q1 results, headline metrics include C$4.37B AFFO vs. TPHe/Street consensus C$4.19B/C$4.26B (C$2.09/shr vs. TPHe/Street C$2.01/C$2.01), with the delta vs. our model owing to realizations and expenses more than offsetting production. 1,643mboepd came in slightly below TPHe/Street 1,657/1,651, primarily driven by Oil Sands with 275mbopd In Situ comparing to TPHe/Street 279/276 and 588mbopd OSM comparing to TPHe/Street 594/595, though the April run-rate within OSM of 630mbopd bodes well for Q2 (TPHe/Street 587/587). On the balance sheet and return of capital, net debt is now sufficiently below C$16B to have driven CNQ to plan for returning 75% of FCF to shareholders. This is already starting to take effect, with April buybacks already totaling ~$0.3B, matching full Q1's buyback activity ($1.5B in return of capital, consisting of $1.2B in dividends and $0.3B in share repurchases); no change to TPHe H2'27+ at strip for the final uplift to 100% with ND (covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $59.80, Change: $-2.46, Percent Change: -3.95%

$CNQ$CNQ.TO

Mining & Metals51d ago

Canadian Natural Resources' Q1 Adjusted Net Earnings Rise YoY

Canadian Natural Resources (CNQ.TO) reported a small year-over-year increase in adjusted net earnings in the first quarter.Adjusted net earnings from operations were C$2.45 billion, or $1.17 per share, up from $2.44 billion, or $.16 per share. The result beat the consensus earnings per share estimate of $1.05 as compiled by FactSet.Adjusted funds flow was $4.37 billion, or $2.09 per share, down from $4.53 billion, or $2.15 per share.The company produced 1.6 million barrels of oil equivalent per day, an increase of 61,000 BOE/d or 4% from the year-ago period.Additionally, the company's board declared a quarterly cash dividend on Canadian Natural common shares of $0.625 per share. The dividend will be payable on July 7 to shareholders of record at the close of business on June 19.

$CNQ.TO

Mining & Metals52d ago

RBC Keeps Canadian Natural Resources' Outperform Rating, C$80 Price Target

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%

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Research53d ago

Canadian Natural Resources Kept at Outperformer at CIBC Ahead of Q1 Results; Price Target at C$70.00

CIBC Capital Markets reiterated its outperformer rating on the shares of Canadian Natural Resources (CNQ.TO, CNQ) ahead of the May 7 release of its first-quarter results."We estimate Q1/26 production of 1,635 MBoe/d and CFPS of $2.07, vs. consensus of 1,642 MBoe/d and $2.00, respectively. We expect the company to show strong thermal production as Pike 1 ramps up, along with Q/Q growth in the conventional segment, driven by organic and inorganic growth during the quarter. The company repurchased $470 million of shares during Q1/26. We expect the company to reach its $16 billion net debt target by the end of Q1/26 or April 2026, at which time it will increase shareholder returns to 75% from 60%. We expect share buybacks to remain the primary method of shareholder returns.," the investment bank wrote(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $64.35, Change: $+0.47, Percent Change: +0.74%

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