Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. As of December 31, 2020, the company had total proved crude oil, bitumen, SCO, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil, bitumen, SCO, and NGLs reserves were 13,271 MMbbl; proved natural gas reserves were 9,465 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 15,922 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
IPO Year:
Exchange: NYSE
Website: cnrl.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/9/2025 | Mkt Perform → Outperform | Raymond James | |
| 3/19/2025 | Sector Perform → Sector Outperform | Scotiabank | |
| 3/7/2025 | In-line → Outperform | Evercore ISI | |
| 7/18/2024 | Peer Perform | Wolfe Research | |
| 4/23/2024 | Buy → Hold | Desjardins | |
| 7/12/2023 | Buy | UBS | |
| 1/13/2023 | Buy | Stifel | |
| 11/21/2022 | $62.00 → $69.00 | Neutral → Buy | Goldman |
| 10/19/2022 | Hold | Jefferies | |
| 8/11/2022 | Neutral | Credit Suisse |
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Calgary, Alberta--(Newsfile Corp. - April 15, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that it has amended its Amended, Compiled and Restated Stock Option Plan (the "Plan") to clarify that the amendment provisions of the Plan require shareholder approval for any amendments to such provisions (the "Amendment"). The Amendment updates the disclosure on page 16 and Schedule D of Canadian Natural's proxy statement and management information circular dated March 19, 2025 (the "Circular") and is effective as of the date hereof.Canadian Natural's shareholders are being asked to approve all unallocated stock options pursuant to t
Calgary, Alberta--(Newsfile Corp. - March 10, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural") announced today that the Toronto Stock Exchange ("TSX") has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid ("NCIB") through the facilities of the TSX or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange.The notice provides that Canadian Natural may, during the 12 month period commencing March 13, 2025 and ending March 12, 2026, purchase for cancellation up to 178,738,237 shares, being 10% of the public float as at February 28, 2025. Canadian N
Calgary, Alberta--(Newsfile Corp. - March 6, 2025) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's 2024 fourth quarter and year end results, "2024 was an excellent year for us, as we achieved strong growth and set several new production records from our base operations, before including acquisitions that closed in 2024. Additionally, including acquisitions, we achieved record annual average production of over 1,363,000 BOE/d in 2024, which includes record annual liquids production of over one million barrels per day. At our world class Oil Sands Mining and Upgrading assets, we achieved record quarterly and annual Synthetic Crude Oil ("SCO") prod
Calgary, Alberta--(Newsfile Corp. - March 6, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) announces that its Board of Directors approved a 4% increase to its quarterly cash dividend on its common shares to C$0.5875 (fifty-eight and three quarter cents) per common share, up from the previous quarterly cash dividend of $0.5625 (fifty-six and one quarter cents) per common share. The dividend will be payable on April 4, 2025 to shareholders of record at the close of business on March 21, 2025.The Company has a leading track record of dividend increases, with 2025 being the 25th consecutive year of dividend increases with a compound annual growth rate ("CAGR") of 21% over that
Calgary, Alberta--(Newsfile Corp. - January 29, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that pursuant to a 2017 agreement with Shell Canada Limited and affiliates ("Shell") and as a result of certain conditions being met, Canadian Natural and Shell are transacting an asset swap related to the Athabasca Oil Sands Project ("AOSP"). Effectively, Canadian Natural will swap 10% of its working interest in the Scotford Upgrader and Quest Carbon Capture and Storage ("Quest") facilities for Shell's remaining 10% working interest in the AOSP mines, associated reserves and additional various working interests in a number of other n
Calgary, Alberta--(Newsfile Corp. - January 22, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") has received notice of an unsolicited "mini-tender" offer made by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 2,500,000 Canadian Natural common shares, or approximately 0.12% of Canadian Natural's outstanding shares, at a price of C$43.25 per share. The offering price represents a discount of 4.44% to the closing price of Canadian Natural's shares on the Toronto Stock Exchange (the "TSX") on January 14, 2025, the last trading day before the mini-tender offer was commenced, and a 4.71% discount to the closing price of
Calgary, Alberta--(Newsfile Corp. - January 9, 2025) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's 2025 budget "Our high quality, diversified asset base combined with our flexible capital allocation strategy is a significant competitive advantage. Our disciplined and focused approach allocates capital and optimizes the product mix based on the highest return projects, maximizing value for our shareholders.Our 2025 operating capital budget of approximately $6 billion targets to deliver value growth and strong returns on capital. Annual average production in 2025 is targeted to be between 1,510 MBOE/d and 1,555 MBOE/d, resulting in production gro
Calgary, Alberta--(Newsfile Corp. - December 6, 2024) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces it has completed the acquisition of Chevron Canada Limited's ("Chevron") Alberta assets, which include a 20% interest in the Athabasca Oil Sands Project ("AOSP") and a 70% operated interest in light crude oil and liquids rich Duvernay assets. Canadian Natural now owns 90% of AOSP, which includes the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture and Storage facility. The acquisition also includes various working interests in a number of other non-producing oil sands leases.The Company targets 2025
Calgary, Alberta--(Newsfile Corp. - December 3, 2024) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that on December 3, 2024, the Company priced the following unsecured notes (the "notes"):NoteCouponPrincipalMaturityPrice per NoteYield to Maturity5 year USD notes5.00%US$750,000,000December 15, 2029US$99.9685.007%10 year USD notes5.40%US$750,000,000December 15, 2034US$99.8375.421%7 year CAD notes4.15%C$500,000,000December 15, 2031C$99.8364.177% The offerings are expected to close on December 6, 2024, subject to customary closing conditions. Net proceeds from the sale of the notes are intended to be used for general corporate purposes
Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's third quarter results, "Our unique and diverse asset base provides us with a competitive advantage, as we can allocate capital to the highest return projects without being reliant on any one commodity. Our consistent and top tier results are driven by safe and reliable operations. Our commitment to continuous improvement is supported by a strong team culture in all areas of our company that focus on improving our costs, driving execution of growth opportunities and increasing value to shareholders. We achieved strong average production of approx
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Raymond James upgraded Canadian Natrl Res from Mkt Perform to Outperform
Scotiabank upgraded Canadian Natrl Res from Sector Perform to Sector Outperform
Evercore ISI upgraded Canadian Natrl Res from In-line to Outperform
Wolfe Research resumed coverage of Canadian Natrl Res with a rating of Peer Perform
Desjardins downgraded Canadian Natrl Res from Buy to Hold
UBS initiated coverage of Canadian Natrl Res with a rating of Buy
Stifel resumed coverage of Canadian Natrl Res with a rating of Buy
Goldman upgraded Canadian Natrl Res from Neutral to Buy and set a new price target of $69.00 from $62.00 previously
Jefferies initiated coverage of Canadian Natrl Res with a rating of Hold
Credit Suisse resumed coverage of Canadian Natrl Res with a rating of Neutral
Calgary, Alberta--(Newsfile Corp. - May 5, 2023) - Canadian Natural (TSX:CNQ) (NYSE:CNQ) held its Annual Meeting of the Shareholders on May 4, 2023. The result of the vote by shareholders for each resolution is reported below.The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are elected or appointed. Votes ForVotes WithheldCatherine M. Best772,999,10794.33%46,482,2735.67%M. Elizabeth Cannon801,149,22697.76%18,332,1532.24%N. Murray Edwards737,404,47389.98%82,076,90710.02%Christopher L. Fong787,625,72896.11%31,855,6513.89%Ambassador Gordon D. Giffin611,943,99374.67%207,537,38625.33%Wilfred A. Gobert797,726,21797.35%21,75
Calgary, Alberta--(Newsfile Corp. - May 7, 2021) - Canadian Natural (TSX:CNQ) (NYSE:CNQ) held its Annual Meeting of the Shareholders on May 6, 2021. The result of the vote by shareholders for each resolution is reported below. The election of the following nominees as directors of the Corporation for the ensuing year or until their successors are elected or appointed.Votes ForVotes WithheldCatherine M. Best839,152,01793.95%54,072,2776.05%M. Elizabeth Cannon860,314,87296.32%32,909,4223.68%N. Murray Edwards846,127,45694.73%47,096,8385.27%Christopher L. Fong834,310,89093.40%58,913,4046.60%Ambassador Gordon D. Giffin745,032,96683.41%148,191,32816.59%Wilfred A. Gobert853,395,54795.54%39,828,7474.
Calgary, Alberta--(Newsfile Corp. - March 10, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural") announced today that the Toronto Stock Exchange ("TSX") has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid ("NCIB") through the facilities of the TSX or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange.The notice provides that Canadian Natural may, during the 12 month period commencing March 13, 2025 and ending March 12, 2026, purchase for cancellation up to 178,738,237 shares, being 10% of the public float as at February 28, 2025. Canadian N
Calgary, Alberta--(Newsfile Corp. - March 6, 2025) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's 2024 fourth quarter and year end results, "2024 was an excellent year for us, as we achieved strong growth and set several new production records from our base operations, before including acquisitions that closed in 2024. Additionally, including acquisitions, we achieved record annual average production of over 1,363,000 BOE/d in 2024, which includes record annual liquids production of over one million barrels per day. At our world class Oil Sands Mining and Upgrading assets, we achieved record quarterly and annual Synthetic Crude Oil ("SCO") prod
Calgary, Alberta--(Newsfile Corp. - March 6, 2025) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) announces that its Board of Directors approved a 4% increase to its quarterly cash dividend on its common shares to C$0.5875 (fifty-eight and three quarter cents) per common share, up from the previous quarterly cash dividend of $0.5625 (fifty-six and one quarter cents) per common share. The dividend will be payable on April 4, 2025 to shareholders of record at the close of business on March 21, 2025.The Company has a leading track record of dividend increases, with 2025 being the 25th consecutive year of dividend increases with a compound annual growth rate ("CAGR") of 21% over that
Calgary, Alberta--(Newsfile Corp. - January 9, 2025) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's 2025 budget "Our high quality, diversified asset base combined with our flexible capital allocation strategy is a significant competitive advantage. Our disciplined and focused approach allocates capital and optimizes the product mix based on the highest return projects, maximizing value for our shareholders.Our 2025 operating capital budget of approximately $6 billion targets to deliver value growth and strong returns on capital. Annual average production in 2025 is targeted to be between 1,510 MBOE/d and 1,555 MBOE/d, resulting in production gro
Calgary, Alberta--(Newsfile Corp. - December 6, 2024) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces it has completed the acquisition of Chevron Canada Limited's ("Chevron") Alberta assets, which include a 20% interest in the Athabasca Oil Sands Project ("AOSP") and a 70% operated interest in light crude oil and liquids rich Duvernay assets. Canadian Natural now owns 90% of AOSP, which includes the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture and Storage facility. The acquisition also includes various working interests in a number of other non-producing oil sands leases.The Company targets 2025
Calgary, Alberta--(Newsfile Corp. - October 31, 2024) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's third quarter results, "Our unique and diverse asset base provides us with a competitive advantage, as we can allocate capital to the highest return projects without being reliant on any one commodity. Our consistent and top tier results are driven by safe and reliable operations. Our commitment to continuous improvement is supported by a strong team culture in all areas of our company that focus on improving our costs, driving execution of growth opportunities and increasing value to shareholders. We achieved strong average production of approx
Calgary, Alberta--(Newsfile Corp. - October 7, 2024) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) announces that, in conjunction with the acquisition of Chevron Canada Limited's ("Chevron") Alberta assets and as a result of Canadian Natural's significant free cash flow, including targeted additional free cash flow generation from the acquired assets and the Company's strong financial position, the Board of Directors have agreed to increase the quarterly cash dividend by 7% to $0.5625 (fifty-six and one quarter cents) per common share, up from the previous quarterly cash dividend of $0.525 (fifty-two and one half cents) per common share. The dividend will be payable on January 3,
Calgary, Alberta--(Newsfile Corp. - October 7, 2024) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that it entered into an agreement to acquire, subject to regulatory approvals, from Chevron Canada Limited ("Chevron") its 20% interest in the Athabasca Oil Sands Project ("AOSP"), which includes 20% of the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture and Storage facility. This acquisition brings Canadian Natural's total current working interest in AOSP to 90%. The acquisition adds approximately 62,500 bbl/d(1) of long life no decline Synthetic Crude Oil ("SCO") production, contributing to Canadi
Calgary, Alberta--(Newsfile Corp. - August 1, 2024) - Canadian Natural's (TSX:CNQ) (NYSE:CNQ) President, Scott Stauth, commented on the Company's second quarter results, "The strength of our well-balanced and diverse portfolio, combined with Canadian Natural's ability to execute safe, effective and efficient operations, delivered an excellent second quarter. Canadian Natural strategically managed turnaround activities and optimized production resulting in strong Q2/24 volumes of approximately 934,000 bbl/d of liquids and 2.1 Bcf/d of natural gas, totaling 1,286,000 BOE/d, an increase of 8% from Q2/23 levels of 1,194,000 BOE/d. In Q2/24, we delivered strong thermal production of approximately
Calgary, Alberta--(Newsfile Corp. - August 1, 2024) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) announces that its Board of Directors has declared a quarterly cash dividend on its common shares of $0.525 (fifty two and one-half cents) per common share. The dividend will be payable on October 4, 2024 to shareholders of record at the close of business on September 13, 2024.The Company has a leading track record of dividend increases, with 2024 being the 24th consecutive year of dividend increases with a compound annual growth rate ("CAGR") of 21% over that time. This demonstrates the confidence that the Board of Directors has in the sustainability of our business model, our stron