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CNQ

Canadian Natural Resources Limited

CNQ

NYSE·Energy·Oil & Gas Exploration & Production·Mkt cap $81.2B

$39.39

▲ +1.19%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$29.30 - $51.34

P/E

8.49

Fwd P/E

11.34

Beta

0.88

Div Yield

4.32%

Avg Vol

10.2M

Shares Out

2.1B

Mkt Cap

$81.2B

Price action

Price chart

Up 20.1% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

4 reasons

  • Massive proved reserves base of 10.5+ billion barrels providing decades of production
  • Geographic diversification across Western Canada, North Sea, and Offshore Africa reducing regional risk
  • Integrated midstream infrastructure including crude oil pipelines enhancing margins
  • Low-cost, high-margin production capabilities in core Canadian operations
▼

Bear Case

1 risk

  • Average volatility.

Growth

Revenue decline expected

Rising global energy demand and crude oil prices supporting production economics

Value

Fairly valued vs Oil & Gas E&P peers

Momentum

Weak

-18.1% over 3m

Quality

Stable

Excellent business quality

Dividend

Solid

4.32% yield

Earnings track record

Latest print - beat on both lines

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Aug 6, 2026

“
Q2 26 RECAP

MAY 7, 2026

Reported EPS of $0.85 vs $0.74 consensus (+14.9% surprise). Revenue of $7.9B vs $7.6B expected (+3.8%). Beat on both top and bottom lines.

EPS beat +14.9%
Rev beat +3.8%
Double beat

EPS surprise · last 4Q

1 of 1 beats

Q2 26

+14.9%

Next: Aug 6, 2026

Revenue trend · last 8Q

—

—

—

+35%

-9%

-9%

-13%

+16%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$7.8B

$7.6B

$8.1B

$9.3B

$9.7B

$9.5B

$10.7B

$10.8B

Margins · last 8Q

Gross

32.1%

Operating

24.7%

Profit

12.5%

View full earnings history →

Wall Street consensus

2 analysts · 100% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

2

100%

Hold

0%

Sell

0%

Median Price Target

—

Latest: Goldman Sachs · Mar 12, 2026

View full analyst page →

vs Industry

How CNQ stacks vs Oil & Gas Exploration & Production

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.