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Canadian Natural Resources Limited (CNQ.TO)

CAD59.40 -0.69 (-1.15%)
CA TSX Energy Oil & Gas Exploration & Production
Address 2100, 855-2nd Street S.W. T2P 4J8
Calgary, AB, CA
CEO Norman Murray Edwards
Website cnrl.com
IPO 1995-01-12
ISIN CA1363851017

Explore sections of this company profile

Also trades on New York Stock Exchange · CNQ (USD) Toronto Stock Exchange · CNQ.TO (CAD)
Description

Canadian Natural Resources Limited (CNRL) is an integrated energy company involved in the entire lifecycle of hydrocarbon resources, from acquisition and exploration to development, production, marketing, and sales. The firm's product portfolio includes various grades of crude oil, such as synthetic crude oil (SCO), light, medium, and heavy crude oils (including bitumen or thermal oil, and Pelican Lake heavy crude), along with natural gas and natural gas liquids (NGLs). CNRL also manages midstream and refining infrastructure, comprising two crude oil pipeline systems and a 50% interest in an 84-megawatt cogeneration facility situated in Primrose. As of December 31, 2020, the company held significant reserves: 10,528 million barrels (MMbbl) of proved crude oil, bitumen, and NGLs (13,271 MMbbl total proved plus probable). 6,998 MMbbl of proved SCO (7,535 MMbbl total proved plus probable). 12,168 billion cubic feet (Bcf) of proved natural gas (20,249 Bcf total proved plus probable). Operations are concentrated across Western Canada, the United Kingdom sector of the North Sea, and offshore Africa. Founded in 1973 and headquartered in Calgary, Canada, the company adopted its current name, Canadian Natural Resources Limited, in December 1975, having previously operated as AEX Minerals Corporation.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CAD59.40 -0.69 (-1.15%)
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Volume Profile
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Liquidity & share structure
Average Volume
15M
Beta
0.88
Float Shares
2.04B
Free Float %
97.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.43% +2.56% -3.74% +13.47% +35.98% +32.85% +40.49% +64.26% +209.26% +236.93% +8,392.50%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (37 analysts) Buy
Price Targets & DCF
Current price
59.40
DCF (Unlevered) 92.47 +55.7%
DCF (Levered) 88.80 +49.5%
Ratings Trend (MoM) 43% Bullish
Rating 2026-05 Change
Strong Buy 3 -1
Buy 7 0
Hold 11 0
Sell 0 0
Strong Sell 2 0
Quality scores
Altman Z-Score
2.73
Grey zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
4 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Oil & Gas Exploration & Production: +1.3%
    -6.6% Q1'26: -15.0% (vs Q1'25)
  • EPS growth Oil & Gas Exploration & Production: +11.4%
    +81.1% Q1'26: -45.3% (vs Q1'25)
  • FCF margin Oil & Gas Exploration & Production: +28.4%
    +22.5% Q1'26: +11.0% (vs Q1'25)
  • EBIT margin Oil & Gas Exploration & Production: +24.1%
    +21.2% Q1'26: +24.7% (vs Q1'25)
  • ROIC Oil & Gas Exploration & Production: +6.3%
    +10.2% Q1'26: +13.0% (vs Q1'25)
  • Share dilution Oil & Gas Exploration & Production: 0.0%
    -2.0% Q1'26: -0.6% (vs Q1'25)
  • Debt / EBITDA Oil & Gas Exploration & Production: 0.54×
    1.10× Q1'26: 1.08× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.91) × ERP
WACC = 87% × Ke + 13% × Kd (4.2%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 92.81 Current price: 59.40
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
3 Rev. Ana.
6 EPS Ana.
Dec 2027
6 Rev. Ana.
10 EPS Ana.
Dec 2028
5 Rev. Ana.
6 EPS Ana.
Dec 2029
2 Rev. Ana.
4 EPS Ana.
Dec 2030
2 Rev. Ana.
2 EPS Ana.
Revenue
15.51B
est: 13.67B (+13.5%)
16.20B
est: 14.81B (+9.3%)
17.95B
est: 16.92B (+6.0%)
21.30B
est: 20.03B (+6.4%)
13.17B
est: 12.23B (+7.7%)
12.00B
est: 9.86B (+21.8%)
18.36B
est: 15.55B (+18.1%)
22.28B
est: 20.97B (+6.2%)
24.39B
est: 23.12B (+5.5%)
16.89B
est: 16.43B (+2.8%)
32.85B
est: 29.44B (+11.6%)
49.53B
est: 40.92B (+21.1%)
40.84B
est: 36.74B (+11.1%)
41.51B
est: 36.30B (+14.3%)
38.76B
est: 39.71B (-2.4%)
45.25B
44.02B – 47.75B
+14.0% YoY
43.35B
42.48B – 45.51B
-4.2% YoY
43.71B
42.10B – 45.33B
+0.8% YoY
48.00B
46.86B – 50.53B
+9.8% YoY
45.90B
44.80B – 48.31B
-4.4% YoY
EBITDA
7.91B
est: 7.02B (+12.6%)
7.30B
est: 8.14B (-10.3%)
8.16B
est: 7.75B (+5.4%)
10.38B
est: 9.45B (+9.9%)
5.19B
est: 6.40B (-18.9%)
4.23B
est: 3.39B (+24.7%)
8.79B
est: 6.06B (+45.1%)
9.48B
est: 11.61B (-18.3%)
11.41B
est: 6.96B (+64.0%)
6.13B
est: 6.67B (-8.0%)
16.38B
est: 7.93B (+106.5%)
21.73B
est: 9.23B (+135.5%)
17.27B
est: 16.13B (+7.0%)
15.41B
est: 14.46B (+6.6%)
17.99B
est: 17.44B (+3.2%)
19.87B
19.33B – 20.97B
+14.0% YoY
19.04B
18.65B – 19.98B
-4.2% YoY
19.19B
18.48B – 19.90B
+0.8% YoY
21.08B
20.58B – 22.19B
+9.8% YoY
20.15B
19.67B – 21.21B
-4.4% YoY
EBIT
4.30B
est: 2.85B (+50.9%)
2.98B
est: 4.24B (-29.8%)
3.32B
est: 2.91B (+13.9%)
5.50B
est: 3.64B (+51.1%)
-293.00M
est: 3.29B (-108.9%)
-632.00M
est: -605.61M (-4.4%)
3.60B
est: -2.06B (+274.9%)
4.32B
est: 3.30B (+30.9%)
5.87B
est: 4.89B (+20.1%)
-117.00M
est: 3.78B (-103.1%)
10.65B
est: 4.50B (+137.0%)
14.37B
est: 5.23B (+174.9%)
10.86B
est: 9.57B (+13.4%)
8.73B
est: 8.40B (+3.9%)
8.23B
est: 10.35B (-20.5%)
11.79B
11.47B – 12.44B
+14.0% YoY
11.30B
11.07B – 11.86B
-4.2% YoY
11.39B
10.97B – 11.81B
+0.8% YoY
12.51B
12.21B – 13.17B
+9.8% YoY
11.96B
11.67B – 12.59B
-4.4% YoY
Net Income
2.64B
est: 1.75B (+50.7%)
1.89B
est: 2.86B (-34.0%)
2.27B
est: 2.11B (+7.4%)
3.93B
est: 2.72B (+44.4%)
-637.00M
est: 2.50B (-125.4%)
-204.00M
est: -519.91M (+60.8%)
2.40B
est: -328.47M (+829.7%)
2.59B
est: 3.39B (-23.5%)
5.42B
est: 2.61B (+107.4%)
-435.00M
est: 3.66B (-111.9%)
7.66B
est: 4.35B (+76.0%)
10.94B
est: 5.06B (+116.0%)
8.23B
est: 7.67B (+7.3%)
6.11B
est: 7.64B (-20.1%)
10.82B
est: 7.12B (+51.9%)
11.90B
11.18B – 12.78B
+67.0% YoY
10.39B
3.56B – 12.70B
-12.6% YoY
8.64B
6.34B – 13.12B
-16.9% YoY
12.48B
12.09B – 13.34B
+44.6% YoY
12.84B
12.44B – 13.72B
+2.9% YoY
SGA
133.00M
est: 643.71M (-79.3%)
56.00M
est: 144.16M (-61.2%)
470.00M
est: 62.54M (+651.5%)
433.00M
est: 563.51M (-23.2%)
344.00M
est: 275.85M (+24.7%)
700.00M
est: 280.77M (+149.3%)
453.00M
est: 1.13B (-59.8%)
179.00M
est: 640.05M (-72.0%)
567.00M
est: 180.39M (+214.3%)
309.00M
est: 383.16M (-19.4%)
880.00M
est: 455.90M (+93.0%)
1.22B
est: 530.19M (+129.9%)
943.00M
est: 836.55M (+12.7%)
782.00M
est: 825.42M (-5.3%)
795.00M
est: 904.07M (-12.1%)
1.03B
1.00B – 1.09B
+14.0% YoY
987.00M
967.24M – 1.04B
-4.2% YoY
995.22M
958.41M – 1.03B
+0.8% YoY
1.09B
1.07B – 1.15B
+9.8% YoY
1.04B
1.02B – 1.10B
-4.4% YoY
EPS
1.21
est: 2.29 (-47.2%)
0.86
est: 1.64 (-47.4%)
1.04
est: 2.26 (-54.0%)
1.80
est: 3.43 (-47.5%)
-0.29
est: 0.08 (-454.9%)
-0.10
est: -0.42 (+77.3%)
1.02
est: 0.55 (+84.3%)
1.06
est: 1.50 (-29.2%)
2.27
est: 1.64 (+38.5%)
-0.18
est: -0.35 (+48.7%)
3.24
est: 3.02 (+7.4%)
4.82
est: 5.62 (-14.2%)
3.77
est: 3.56 (+5.8%)
2.87
est: 3.58 (-19.7%)
5.17
est: 3.42 (+51.1%)
5.80
5.33 – 6.09
+69.5% YoY
4.75
1.70 – 6.06
-18.1% YoY
4.76
3.02 – 6.25
+0.1% YoY
5.95
5.77 – 6.36
+25.0% YoY
6.12
5.93 – 6.54
+2.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-07 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-06 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-05 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-04 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-05-01 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-04-30 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-04-29 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-04-28 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-04-27 A- 4/5 4/5 5/5 5/5 2/5 3/5 2/5
2026-04-24 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-23 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-22 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-21 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-20 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-17 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-16 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-15 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-14 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-13 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5
2026-04-10 A- 4/5 4/5 5/5 5/5 1/5 3/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-4.22B
OE per share TTM
-2.01
Owner's Yield
-3.33%
Maintenance CapEx ratio
447.27%
Maint CapEx / Avg PPE
207.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
773.1K
Shares Outstanding
2.09B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Norman Murray Edwards Executive Chairman 14M male
Scott G. Stauth President & Director 7M male
Robin Sean Zabek Chief Operating Officer of Exploration & Production 3M male
Jay E. Froc Chief Operating Officer of Oil Sands Mining & Upgrading 3M male
Victor Clinton Darel Chief Financial Officer & Principal Accounting Officer 2M male
Lance J. Casson Manager of Investor Relations male
Brenda Gayle Balog Vice President of Legal & General Counsel male
Ronald Keith Laing Chief Commercial & Corporate Development Officer male
Troy J. Andersen Senior Vice-President of Canadian Conventional Field Operations
Mark Anthony Overwater Vice-President of Marketing
Calvin J. Bast Senior Vice President of Production
Dean W. Halewich Senior Vice-President of Safety, Risk Management & Innovation
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits