Symbols / CNQ Stock $46.96 -1.53% Canadian Natural Resources Limited

Energy • Oil & Gas E&P • Canada • NYQ
CNQ (Stock) Chart
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Stock Fundamentals
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Index EQUITY
Sector Energy
Industry Oil & Gas E&P
CEO —
Exch · Country NYQ · Canada
Market Cap 98.00B
Enterprise Value 117.01B
Income 10.82B
Sales 38.76B
FCF (ttm) 6.42B
Book/sh 15.65
Cash/sh 0.32
Employees 10,750
Insider 10d —
IPO Jul 31, 2000
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 45.54%
P/E 12.46
Forward P/E 13.58
PEG 3.42
P/S 2.53
P/B 3.00
P/C —
EV/EBITDA 7.39
EV/Sales 3.02
Quick Ratio 0.58
Current Ratio 0.95
Debt/Eq 44.45
LT Debt/Eq —
EPS (ttm) 3.77
EPS next Y 3.46
EPS Growth 3.72%
Revenue Growth 1.50%
EPS Gr Q/Q 3.66%
Rev Gr Q/Q —
Earnings (next) 2026-05-07
Earnings (prior) 2026-03-05
ROA 5.76%
ROE 25.81%
ROIC —
Gross Margin 48.46%
Oper. Margin 19.56%
Profit Margin 27.91%
Shs Outstand 2.09B
Shs Float 2.04B
Insider Own 2.17%
Instit Own 74.90%
Short Float —
Short Ratio 1.78
Short Interest 100.42M
52W High 51.34
vs 52W High -8.53%
52W Low 27.93
vs 52W Low 68.13%
Beta 0.91
Impl. Vol. 0.20%
Rel Volume 0.65
Avg Volume 11.76M
Volume 7.64M
Target (mean) $45.94
Tgt Median $45.60
Tgt Low $40.23
Tgt High $52.30
# Analysts 4
Recom Buy
Prev Close $47.69
Price $46.96
Change -1.53%
About

Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, 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. 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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$45.94
Mean price target
2. Current target
$46.96
Latest analyst target
3. DCF / Fair value
$55.39
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$46.96
Low
$40.23
High
$52.30
Mean
$45.94

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-12 main Goldman Sachs Buy → Buy $49
2026-03-06 main RBC Capital Outperform → Outperform $65
2026-01-02 main Goldman Sachs Buy → Buy $35
2025-09-24 reit RBC Capital Outperform → Outperform $62
2025-08-08 main RBC Capital Outperform → Outperform $62
2025-03-27 reit RBC Capital Outperform → Outperform $63
2025-03-07 main RBC Capital Outperform → Outperform $63
2025-02-18 reit RBC Capital Outperform → Outperform $62
2024-06-11 main Scotiabank Sector Perform → Sector Perform —
2024-01-11 main JP Morgan Neutral → Neutral $102
2023-08-29 main CIBC Outperformer → Outperformer $93
2023-08-28 main Jefferies Hold → Hold $94
2023-08-04 main Wells Fargo Equal-Weight → Equal-Weight $85
2023-06-29 main National Bank Financial Inc — → Outperform $93
2022-11-21 up Goldman Sachs Neutral → Buy $69
2022-07-19 up B of A Securities Neutral → Buy —
2022-05-20 main Goldman Sachs — → Neutral $72
2021-06-11 up Goldman Sachs Neutral → Buy $44
2020-05-14 up Goldman Sachs Neutral → Buy —
2020-05-08 main RBC Capital — → Outperform $27
News
RSS: Latest CNQ news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-06 Laut (Stephen W) Director of Issuer — 754 $47.65 $35,930
2026-04-06 Tuer (David) Director of Issuer — 754 $47.65 $35,930
2026-04-06 Best (Catherine May) Director of Issuer — 754 $47.65 $35,930
2026-04-06 Brown (Shelley Ann Marie) Director of Issuer — 754 $47.65 $35,930
2026-04-06 Giffin (Gordon D.) Director of Issuer — 754 $47.65 $35,930
2026-04-06 Gobert (Wilfred Arthur) Director of Issuer — 754 $47.65 $35,930
2026-04-06 Healy (Christine) Director of Issuer — 754 $47.65 $35,930
2026-04-01 Darel (Victor Clinton) Senior Officer of Issuer — 113 $31.92 $3,606
2026-04-01 Darel (Victor Clinton) Senior Officer of Issuer — 8,644 $33.00 $285,226
2026-04-01 Edwards (Norman Murray) Director of Issuer — 295,159 $33.00 $9,739,361
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
44,167.00
+6.40%
41,509.00
+1.65%
40,835.00
-17.56%
49,530.00
Operating Revenue
44,167.00
+6.40%
41,509.00
+1.65%
40,835.00
-17.56%
49,530.00
Cost Of Revenue
34,766.00
+13.57%
30,611.00
+5.33%
29,062.00
-12.65%
33,270.00
Reconciled Cost Of Revenue
34,766.00
+13.57%
30,611.00
+5.33%
29,062.00
-12.65%
33,270.00
Gross Profit
9,401.00
-13.74%
10,898.00
-7.43%
11,773.00
-27.60%
16,260.00
Operating Expense
1,175.00
+0.34%
1,171.00
-10.54%
1,309.00
-12.73%
1,500.00
Selling General And Administration
795.00
+1.66%
782.00
-17.07%
943.00
-22.64%
1,219.00
General And Administrative Expense
795.00
+1.66%
782.00
-17.07%
943.00
-22.64%
1,219.00
Salaries And Wages
180.00
-35.48%
279.00
-43.18%
491.00
-38.93%
804.00
Other Gand A
615.00
+22.27%
503.00
+11.28%
452.00
+8.92%
415.00
Other Operating Expenses
380.00
-2.31%
389.00
+6.28%
366.00
+30.25%
281.00
Total Expenses
35,941.00
+13.09%
31,782.00
+4.65%
30,371.00
-12.65%
34,770.00
Operating Income
8,226.00
-15.43%
9,727.00
-7.04%
10,464.00
-29.11%
14,760.00
EBITDA
21,887.00
+42.00%
15,413.00
-10.75%
17,269.00
-20.52%
21,727.00
Normalized EBITDA
16,038.00
-2.74%
16,489.00
-2.62%
16,932.00
-23.85%
22,234.00
Reconciled Depreciation
7,607.00
+13.86%
6,681.00
+4.18%
6,413.00
-12.78%
7,353.00
EBIT
14,280.00
+63.54%
8,732.00
-19.57%
10,856.00
-24.47%
14,374.00
Total Unusual Items
5,849.00
+643.59%
-1,076.00
-419.29%
337.00
+166.47%
-507.00
Total Unusual Items Excluding Goodwill
5,849.00
+643.59%
-1,076.00
-419.29%
337.00
+166.47%
-507.00
Special Income Charges
5,069.00
0.00
0.00
0.00
Impairment Of Capital Assets
—
—
—
—
Restructuring And Mergern Acquisition
-5,069.00
0.00
0.00
0.00
Net Income
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Pretax Income
13,241.00
+64.30%
8,059.00
-20.72%
10,165.00
-25.82%
13,704.00
Net Non Operating Interest Income Expense
-834.00
-40.88%
-592.00
+6.92%
-636.00
-15.85%
-549.00
Interest Expense Non Operating
1,039.00
+54.38%
673.00
-2.60%
691.00
+3.13%
670.00
Net Interest Income
-834.00
-40.88%
-592.00
+6.92%
-636.00
-15.85%
-549.00
Interest Expense
1,039.00
+54.38%
673.00
-2.60%
691.00
+3.13%
670.00
Interest Income Non Operating
205.00
+153.09%
81.00
+47.27%
55.00
-54.55%
121.00
Interest Income
205.00
+153.09%
81.00
+47.27%
55.00
-54.55%
121.00
Other Income Expense
5,849.00
+643.59%
-1,076.00
-419.29%
337.00
+166.47%
-507.00
Gain On Sale Of Security
780.00
+172.49%
-1,076.00
-419.29%
337.00
+166.47%
-507.00
Tax Provision
2,421.00
+23.96%
1,953.00
+1.09%
1,932.00
-30.18%
2,767.00
Tax Rate For Calcs
0.00
-25.72%
0.00
+27.50%
0.00
-4.97%
0.00
Tax Effect Of Unusual Items
1,052.82
+503.76%
-260.76
-507.10%
64.05
+163.17%
-101.40
Net Income Including Noncontrolling Interests
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Net Income From Continuing Operation Net Minority Interest
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Net Income From Continuing And Discontinued Operation
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Net Income Continuous Operations
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Normalized Income
6,023.82
-12.97%
6,921.24
-13.05%
7,960.05
-29.82%
11,342.60
Net Income Common Stockholders
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Diluted EPS
5.16
+81.05%
2.85
-23.69%
3.73
-21.53%
4.76
Basic EPS
5.17
+80.14%
2.87
-23.87%
3.77
-21.78%
4.82
Basic Average Shares
2,091.13
-1.63%
2,125.80
-2.60%
2,182.62
-3.85%
2,269.92
Diluted Average Shares
2,097.91
-1.99%
2,140.43
-2.90%
2,204.25
-4.09%
2,298.36
Diluted NI Availto Com Stockholders
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Earnings From Equity Interest
—
—
0.00
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
91,830.00
+7.58%
85,359.00
+12.38%
75,955.00
-0.25%
76,142.00
Current Assets
7,664.00
+3.50%
7,405.00
+3.32%
7,167.00
+1.56%
7,057.00
Cash Cash Equivalents And Short Term Investments
673.00
+413.74%
131.00
-90.66%
1,402.00
-0.64%
1,411.00
Cash And Cash Equivalents
673.00
+413.74%
131.00
-85.06%
877.00
-4.67%
920.00
Other Short Term Investments
—
0.00
-100.00%
525.00
+6.92%
491.00
Receivables
3,999.00
-3.08%
4,126.00
+29.38%
3,189.00
-10.30%
3,555.00
Accounts Receivable
3,999.00
-3.08%
4,126.00
+29.38%
3,189.00
-10.30%
3,555.00
Taxes Receivable
—
—
—
—
Inventory
2,621.00
-6.16%
2,793.00
+37.32%
2,034.00
+12.07%
1,815.00
Raw Materials
1,885.00
+4.32%
1,807.00
+21.44%
1,488.00
+23.59%
1,204.00
Finished Goods
736.00
-25.35%
986.00
+80.59%
546.00
-10.64%
611.00
Prepaid Assets
—
—
—
—
Other Current Assets
371.00
+4.51%
355.00
-34.50%
542.00
+96.38%
276.00
Total Non Current Assets
84,166.00
+7.97%
77,954.00
+13.32%
68,788.00
-0.43%
69,085.00
Net PPE
83,297.00
+7.71%
77,334.00
+13.31%
68,247.00
-0.42%
68,532.00
Gross PPE
174,906.00
+5.31%
166,085.00
+10.29%
150,589.00
+3.09%
146,080.00
Accumulated Depreciation
-91,609.00
-3.22%
-88,751.00
-7.78%
-82,342.00
-6.18%
-77,548.00
Buildings And Improvements
699.00
+15.16%
607.00
+7.24%
566.00
+5.60%
536.00
Machinery Furniture Equipment
—
—
840.00
-7.89%
912.00
Other Properties
3,001.00
+115.28%
1,394.00
-4.39%
1,458.00
+0.76%
1,447.00
Other Non Current Assets
869.00
+40.16%
620.00
+14.60%
541.00
-2.17%
553.00
Total Liabilities Net Minority Interest
47,464.00
+3.43%
45,891.00
+27.04%
36,123.00
-4.86%
37,967.00
Current Liabilities
8,063.00
-16.28%
9,631.00
+29.54%
7,435.00
-14.06%
8,651.00
Payables And Accrued Expenses
5,957.00
+4.58%
5,696.00
+15.02%
4,952.00
-27.96%
6,874.00
Payables
1,702.00
+45.35%
1,171.00
-17.42%
1,418.00
-46.79%
2,665.00
Accounts Payable
1,105.00
+2.41%
1,079.00
-23.91%
1,418.00
+5.74%
1,341.00
Current Accrued Expenses
4,255.00
-5.97%
4,525.00
+28.04%
3,534.00
-16.04%
4,209.00
Total Tax Payable
597.00
+548.91%
92.00
0.00
-100.00%
1,324.00
Income Tax Payable
597.00
+548.91%
92.00
0.00
-100.00%
1,324.00
Current Debt And Capital Lease Obligation
441.00
-81.63%
2,400.00
+144.90%
980.00
+142.57%
404.00
Current Debt
441.00
-81.63%
2,400.00
+144.90%
980.00
+142.57%
404.00
Other Current Borrowings
441.00
-74.48%
1,728.00
+76.33%
980.00
+142.57%
404.00
Current Capital Lease Obligation
—
—
—
244.00
Other Current Liabilities
1,665.00
+8.47%
1,535.00
+2.13%
1,503.00
+9.47%
1,373.00
Total Non Current Liabilities Net Minority Interest
39,401.00
+8.66%
36,260.00
+26.39%
28,688.00
-2.14%
29,316.00
Long Term Debt And Capital Lease Obligation
16,176.00
-1.48%
16,419.00
+67.22%
9,819.00
-11.07%
11,041.00
Long Term Debt
16,176.00
-1.48%
16,419.00
+67.22%
9,819.00
-11.07%
11,041.00
Long Term Capital Lease Obligation
—
—
—
1,296.00
Non Current Deferred Liabilities
11,289.00
+7.12%
10,539.00
+3.50%
10,183.00
+0.68%
10,114.00
Non Current Deferred Taxes Liabilities
11,289.00
+7.12%
10,539.00
+3.50%
10,183.00
+0.68%
10,114.00
Other Non Current Liabilities
11,936.00
+28.32%
9,302.00
+7.09%
8,686.00
+6.43%
8,161.00
Stockholders Equity
44,366.00
+12.41%
39,468.00
-0.91%
39,832.00
+4.34%
38,175.00
Common Stock Equity
44,366.00
+12.41%
39,468.00
-0.91%
39,832.00
+4.34%
38,175.00
Capital Stock
11,421.00
+3.23%
11,064.00
+3.29%
10,712.00
+4.06%
10,294.00
Common Stock
11,421.00
+3.23%
11,064.00
+3.29%
10,712.00
+4.06%
10,294.00
Share Issued
2,081.58
-1.02%
2,103.00
-1.95%
2,144.82
-2.74%
2,205.27
Ordinary Shares Number
2,081.58
-1.02%
2,103.00
-1.95%
2,144.82
-2.74%
2,205.27
Retained Earnings
32,726.00
+16.45%
28,103.00
-2.92%
28,948.00
+4.61%
27,672.00
Gains Losses Not Affecting Retained Earnings
219.00
-27.24%
301.00
+75.00%
172.00
-17.70%
209.00
Other Equity Adjustments
219.00
-27.24%
301.00
+75.00%
172.00
-17.70%
209.00
Total Equity Gross Minority Interest
44,366.00
+12.41%
39,468.00
-0.91%
39,832.00
+4.34%
38,175.00
Total Capitalization
60,542.00
+8.33%
55,887.00
+12.56%
49,651.00
+0.88%
49,216.00
Working Capital
-399.00
+82.08%
-2,226.00
-730.60%
-268.00
+83.19%
-1,594.00
Invested Capital
60,983.00
+4.63%
58,287.00
+15.12%
50,631.00
+2.04%
49,620.00
Total Debt
16,617.00
-11.70%
18,819.00
+74.27%
10,799.00
-5.64%
11,445.00
Net Debt
15,944.00
-14.68%
18,688.00
+88.35%
9,922.00
-5.73%
10,525.00
Capital Lease Obligations
—
—
—
1,540.00
Net Tangible Assets
44,366.00
+12.41%
39,468.00
-0.91%
39,832.00
+4.34%
38,175.00
Tangible Book Value
44,366.00
+12.41%
39,468.00
-0.91%
39,832.00
+4.34%
38,175.00
Commercial Paper
0.00
-100.00%
672.00
0.00
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
15,106.00
+12.85%
13,386.00
+8.36%
12,353.00
-36.30%
19,391.00
Cash Flow From Continuing Operating Activities
15,106.00
+12.85%
13,386.00
+8.36%
12,353.00
-36.30%
19,391.00
Net Income From Continuing Operations
10,820.00
+77.20%
6,106.00
-25.84%
8,233.00
-24.72%
10,937.00
Depreciation Amortization Depletion
7,607.00
+13.86%
6,681.00
+4.18%
6,413.00
-12.78%
7,353.00
Depreciation
393.00
—
—
—
Depreciation And Amortization
393.00
—
—
—
Other Non Cash Items
-3,984.00
-1068.33%
-341.00
-147.10%
-138.00
+38.12%
-223.00
Stock Based Compensation
180.00
-35.48%
279.00
-43.18%
491.00
-38.93%
804.00
Deferred Tax
510.00
+20.85%
422.00
+696.23%
53.00
+138.13%
-139.00
Deferred Income Tax
510.00
+20.85%
422.00
+696.23%
53.00
+138.13%
-139.00
Operating Gains Losses
-699.00
-171.18%
982.00
+448.23%
-282.00
-148.62%
580.00
Gain Loss On Investment Securities
71.00
+273.17%
-41.00
-86.36%
-22.00
+89.52%
-210.00
Net Foreign Currency Exchange Gain Loss
-816.00
-179.77%
1,023.00
+493.46%
-260.00
-132.91%
790.00
Gain Loss On Sale Of PPE
46.00
—
—
—
Change In Working Capital
672.00
+190.44%
-743.00
+69.26%
-2,417.00
-3159.49%
79.00
Investing Cash Flow
-6,687.00
+52.56%
-14,095.00
-190.14%
-4,858.00
+2.59%
-4,987.00
Cash Flow From Continuing Investing Activities
-6,687.00
+52.56%
-14,095.00
-190.14%
-4,858.00
+2.59%
-4,987.00
Net PPE Purchase And Sale
-115.00
-25.00%
-92.00
-109.09%
-44.00
—
Purchase Of PPE
-115.00
-25.00%
-92.00
-109.09%
-44.00
—
Capital Expenditure
-6,791.00
-26.16%
-5,383.00
-9.66%
-4,909.00
+4.42%
-5,136.00
Capital Expenditure Reported
-6,791.00
-26.16%
-5,383.00
-9.66%
-4,909.00
+4.42%
-5,136.00
Net Investment Purchase And Sale
0.00
-100.00%
575.00
0.00
0.00
Sale Of Investment
0.00
-100.00%
575.00
0.00
0.00
Net Business Purchase And Sale
0.00
+100.00%
-9,163.00
0.00
0.00
Purchase Of Business
0.00
+100.00%
-9,163.00
0.00
0.00
Net Other Investing Changes
104.00
+183.87%
-124.00
-343.14%
51.00
-65.77%
149.00
Financing Cash Flow
-7,877.00
-21189.19%
-37.00
+99.51%
-7,538.00
+47.02%
-14,228.00
Cash Flow From Continuing Financing Activities
-7,877.00
-21189.19%
-37.00
+99.51%
-7,538.00
+47.02%
-14,228.00
Net Issuance Payments Of Debt
-1,821.00
-126.89%
6,772.00
+1066.05%
-701.00
+83.47%
-4,242.00
Issuance Of Debt
1,634.00
-79.84%
8,105.00
0.00
0.00
Repayment Of Debt
-3,455.00
-159.19%
-1,333.00
-90.16%
-701.00
+83.47%
-4,242.00
Long Term Debt Issuance
1,634.00
-79.84%
8,105.00
0.00
0.00
Long Term Debt Payments
-3,455.00
-159.19%
-1,333.00
-90.16%
-701.00
+83.47%
-4,242.00
Net Long Term Debt Issuance
-1,821.00
-126.89%
6,772.00
+1066.05%
-701.00
+83.47%
-4,242.00
Net Short Term Debt Issuance
-1,395.00
-125.52%
5,466.00
0.00
—
Net Common Stock Issuance
-1,449.00
+45.53%
-2,660.00
+19.83%
-3,318.00
+40.44%
-5,571.00
Common Stock Payments
-1,449.00
+45.53%
-2,660.00
+19.83%
-3,318.00
+40.44%
-5,571.00
Common Stock Dividend Paid
-4,871.00
-9.98%
-4,429.00
-13.83%
-3,891.00
+21.01%
-4,926.00
Cash Dividends Paid
-4,871.00
-9.98%
-4,429.00
-13.83%
-3,891.00
+21.01%
-4,926.00
Repurchase Of Capital Stock
-1,449.00
+45.53%
-2,660.00
+19.83%
-3,318.00
+40.44%
-5,571.00
Proceeds From Stock Option Exercised
264.00
-5.71%
280.00
-24.73%
372.00
-15.84%
442.00
Net Other Financing Charges
—
—
—
69.00
Changes In Cash
542.00
+172.65%
-746.00
-1634.88%
-43.00
-124.43%
176.00
Beginning Cash Position
131.00
-85.06%
877.00
-4.67%
920.00
+23.66%
744.00
End Cash Position
673.00
+413.74%
131.00
-85.06%
877.00
-4.67%
920.00
Free Cash Flow
8,315.00
+3.90%
8,003.00
+7.51%
7,444.00
-47.78%
14,255.00
Interest Paid Supplemental Data
978.00
+66.89%
586.00
-2.66%
602.00
-1.79%
613.00
Income Tax Paid Supplemental Data
1,722.00
+50.52%
1,144.00
-65.51%
3,317.00
+8.51%
3,057.00
Depletion
7,214.00
—
—
—
SEC Filings

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