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Canadian Natural Resources Limited (CNQ)

NYSE - NYSE Delayed Price. Currency in USD
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17.58-0.35 (-1.95%)
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Previous Close17.93
Bid17.51 x 1200
Ask17.99 x 1000
Day's Range17.49 - 17.91
52 Week Range6.71 - 32.79
Avg. Volume3,661,707
Market Cap20.704B
Beta (5Y Monthly)2.08
PE Ratio (TTM)7.62
EPS (TTM)2.31
Earnings DateN/A
Forward Dividend & Yield1.28 (7.13%)
Ex-Dividend DateSep 17, 2020
1y Target Est40.74
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Goldman Sachs: 3 High-Yield Dividend Stocks With Growth on the Horizon

    Goldman Sachs: 3 High-Yield Dividend Stocks With Growth on the Horizon

    Did the bull market cycle end on September 2? The NASDAQ lost 7% from its peak above 12,000, while the S&P saw smaller losses of 4.5%. Of course, there have been positive trading sessions – and a look at the year-to-date chart suggests that stock markets simply experienced a temporary correction, one of several that have occurred so far, since the bull run began in March.Still, the market activity of the past two weeks reminds us that every investor should take steps to defend his portfolio, in good times as well as bad. Banking giant Goldman Sachs has taken that reminder to heart, and pointed out three high-yielding dividend stocks with upside potentials starting at 25%. Turning to the TipRanks database, we’ve pulled up the latest information on the Goldman Sachs picks. Combined with the analyst comments, the data will tell us what else makes these stocks compelling buys.MPLX LP (MPLX)Unsurprisingly, all three stocks that Goldman checked are in the energy industry. Oil – and other hydrocarbons – is vital in the modern economy, and the companies that drill it, move it, and sell it generally have the cash available to pay out high dividends. MPLX, which spun off of Marathon Petroleum eight years ago as a separate midstream entity, generates its income from a series of pipelines and oil transport assets, also including river shipping, terminals, and refineries. The company’s operations are focused in the MidWest and Gulf Coast.MPLX has shown a clear ability to generate cash through its operations. The company’s cash position last year allowed it to return $2.8 billion to shareholders, through a combination of buybacks and dividend payments. In 1H20, MPLX reduced its capital spending in response to lower income, and despite posting a net loss in the first quarter it generated $1 billion in net cash.In the second quarter, as earnings returned to a strong net profit, the company saw net cash from operations of $1.105 billion. Distributable cash flow in the quarter was almost $1.03 billion, and the company paid out its usual high dividend: 68.75 cents per common share. At $2.75 annualized, this dividend yields well over 15%, and importantly for investors, the company has been gradually growing the dividend for the past 8 years.Goldman Sachs analyst Michael Lapides writes of this stock, “MPLX is a large diversified MLP with a portfolio of crude and refined products assets … as well as gathering and processing (G&P) assets across various basins, notably the Marcellus/Utica… we see a clear path to improvement: new strategic initiatives for the complex…, a stronger Marcellus/Utica macro outlook, and a clear path to deleveraging...”With that background in mind, Lapides initiated coverage on MPLX with a Buy rating. His $24 price target suggests that MPLX has a 33% upside potential for the coming year. (To watch Lapides’ track record, click here)Overall, MPLX gets a Moderate Buy analyst consensus rating, based on 7 Buys and 3 Holds. The shares are selling for $18, and the $22.86 average price target implies an upside of 27%. (See MPLX stock analysis on TipRanks)Suncor Energy, Inc. (SU)Next up is Suncor, a Calgary-based company and a major operator in Alberta’s oil patch. Suncor works the tar sand oil deposits that put Alberta on the oil map, producing synthetic crude oil from the semi-solid bitumen. The oil sands are estimated to contain nearly 180 billion barrels of economically viable recoverable reserves, and Suncor is one of the biggest producers in the region.Suncor has faced serious headwinds so far in 2020. The COVID-19 pandemic has impacted demand and imposed supply, distribution, and labor disruptions, while competition from OPEC and other international producers has pushed prices lower. SU’s earnings turned negative in Q1, and the EPS loss deepened in Q2. At the top line, revenues have slipped from C$9.5 billion in Q4 to C$7.4 billion in Q1 to C$4.2 billion in the second quarter.With revenues and earnings slipping, and the share price down 57% year-to-date, it only makes sense that Suncor has reduced the quarterly dividend payment in 2020. The dividend was increased steadily from 2017 through the end of 2019, but in 2020, the payment was reduced to 15 cents per common share. It’s been kept at this level for two quarters, and even at the reduced level the dividend yields 4.5%, well above the average found among S&P 500.Reviewing this stock for Goldman Sachs, analyst Neil Mehta wrote, "Our positive view is predicated on: (1) balance sheet strength, with 1.0x ND/EBITDA versus peers at 1.4x in 2021; (2) strong FCF generation despite some negative earnings revisions; (3) potential for C$2 bn of cash flow growth from debottlenecking and margin enhancing projects through 2025; and (4) attractive valuation after recent underperformance versus peers."Mehta sets an $18 price target on SU, representing a 32% upside for the coming year and supporting his Buy rating on the stock. (To watch Mehta’s track record, click here)Overall, Suncor has a Strong Buy rating from the analyst consensus, after receiving 12 Buy reviews and 2 Holds in recent months. The stock has an average price target of $22.07, even more bullish than Mehta’s and giving it a 62% upside potential from the $13.63 trading price. (See SU stock analysis on TipRanks)Canadian Natural Resources (CNQ)The last stock on our list is another large company from the Canadian energy industry. Canadian Natural Resources operates in the heavy crude region of Alberta, and in the natural gas plays of adjacent British Columbia. Canadian Natural’s assets include light, medium, and heavy crude oil, along with oil sands mining rights and both conventional and unconventional natural gas wells. The company is the largest landholder in the Western Canadian Sedimentary Basin. Supplementing its North American assets, CNQ also has offshore operations in the North Sea and on the West African coast.The company’s stock took a hard hit in February, when the coronavirus pandemic sparked a sharp economic downturn. Shares fell 74%, and have still not fully recovered. Fortunately, the company met the crisis after a strong finish to 2019, a year that saw total production reach almost 1.1 billion barrels of oil equivalent and free cash flow hit $4.6 billion.In recent months, even as the economy has begun to come back, CNQ has found that its own headwinds have not diminished. Supply and demand are still not in balance in the oil industry, and recessionary pressures are pushing oil prices down.Despite those headwinds, CNQ has kept up its dividend payment. The most recent dividend, declared in August and set for payment on September 18, is for C$0.425 cents (US$0.32). At this rate, the dividend annualizes to C$1.70 (US$1.29), and gives a robust yield of 7.1%. The company has been raising the dividend steadily for the past several years.This stock was, like SU, reviewed by Neil Mehta, who notes three important factors behind his Buy rating: “Positive capital intensity surprises, including positive commentary around 2021; sufficient liquidity to navigate the downturn and expectations of deleveraging in 2021-2022; and CNQ’s potential to benefit from an oil price recovery.”Mehta accompanies his Buy rating on CNQ with a $23 price target, implying a 25% one-year upside potential. All in all, Canadian Natural has 12 recent Buy reviews, making the Strong Buy analyst consensus rating unanimous. Shares are selling for $18.37 and have an average price target of $24.19, suggesting an upside of 32% for the coming year. (See CNQ stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Moody's

    Canadian Natural Resources Limited -- Moody's announces completion of a periodic review of ratings of Canadian Natural Resources Limited

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Canadian Natural Resources Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • GlobeNewswire

    Painted Pony Announces Mailing of Management Information Circular for Special Meeting

    CALGARY, Alberta, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) today announces that it has filed and mailed the management information circular of Painted Pony dated August 31, 2020 and related proxy materials (collectively, the "Meeting Materials") in connection with the special meeting (the "Meeting") of holders of common shares ("Painted Pony Shares") of Painted Pony and holders of options to acquire Painted Pony Shares (collectively, the "Securityholders") to be held on Thursday, October 1, 2020 at 3:00 p.m. (Calgary time). At the Meeting, Securityholders will be asked to consider and, if deemed advisable, to pass a special resolution (the "Arrangement Resolution") approving the previously announced transaction (the "Transaction") with Canadian Natural Resources Limited (the "Purchaser") (TSX, NYSE: CNQ), pursuant to which, among other things, the Purchaser will acquire all of the issued and outstanding Painted Pony Shares for cash consideration of $0.69 per Painted Pony Share (the "Purchase Price"), subject to the terms and conditions of the previously announced arrangement agreement between Painted Pony and the Purchaser dated August 10, 2020 (the "Arrangement Agreement"). The Transaction is to be completed by way of a plan of arrangement under the Business Corporations Act (Alberta).THE ARRANGEMENT AGREEMENT AND APPROVALSUnder the Transaction, the Purchaser will acquire all of the issued and outstanding Painted Pony Shares in exchange for the payment to shareholders of the Purchase Price for each Painted Pony Share held.All of the directors and executive officers of Painted Pony, together with Painted Pony's two largest shareholders, have entered into support agreements and have agreed to support the Transaction and vote an aggregate of approximately 25% of the outstanding Painted Pony Shares in favour of the Transaction, subject to the provisions of such support agreements.The Transaction is subject to various closing conditions, including receipt of court approval, the required Securityholder approval at the Meeting and certain regulatory approvals, including approval under the Competition Act (Canada). Upon closing of the Transaction, the Painted Pony Shares will be de-listed from the TSX. If all of the necessary conditions to the Transaction are satisfied or waived, Painted Pony expects that the Transaction will be completed on or about October 6, 2020. The parties received a “no-action letter” on September 3, 2020, indicating that the Commissioner of Competition does not intend to make an application under section 92 of the Competition Act. This formally completes the Commissioner’s review of the transaction and satisfies the Competition Act Clearance condition to closing in the Arrangement Agreement. The parties also received conditional approval from the TSX on August 27, 2020.MEETING MATERIALSThe Meeting Materials contain important information regarding the Transaction, how Securityholders can vote at the Meeting and a summary of the events leading up to the Transaction, including the reasons that led the Corporation's Board of Directors (the "Board") to unanimously determine that the Transaction is fair, from a financial point of view, to Painted Pony's shareholders and in the best interest of Painted Pony. The Board unanimously recommends that Securityholders vote for the Arrangement Resolution approving the Transaction at the Meeting.The Meeting Materials are available on Painted Pony's website at www.paintedpony.ca and under Painted Pony's SEDAR profile at www.SEDAR.com. The full text of the fairness opinion prepared by TD Securities Inc., co-lead financial advisor in connection with the Transaction, is included in the Meeting Materials.THE MEETING The Transaction is subject to approval by Securityholders at the Meeting, including the approval of at least: (a) two-thirds of the votes cast by the shareholders in person or represented by proxy at the Meeting; (b) two-thirds of the votes cast by the Securityholders in person or represented by proxy at the Meeting, voting together as a single class; and (c) if required, a majority of the votes cast by shareholders in person or represented by proxy at the Meeting, after excluding the votes cast by those shareholders whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.Securityholders of record at the close of business on August 31, 2020 will be entitled to vote at the Meeting. Out of an abundance of caution and in an effort to adopt measures that assist our community in slowing the spread of the novel coronavirus disease 2019, also known as COVID-19, in order to protect the health and safety of our community, Securityholders, employees and other stakeholders, the Meeting will be held in a virtual-only format, which will be conducted via live audio webcast at www.virtualshareholdermeeting.com/PONY2020.Optionholders, registered Painted Pony shareholders and duly appointed proxyholders will have the opportunity to ask questions in real time and vote on Meeting matters. Non-registered Painted Pony shareholders who have not duly appointed themselves as proxyholders may still attend the Meeting and ask questions but will not be able to vote at the Meeting.Further details on how to attend and participate in the Meeting are provided in the Meeting Materials. Securityholders with questions or in need of voting assistance can contact Gryphon Advisors Inc. at 1-833-261-9730 (toll free in North America) or by email at inquiries@gryphonadvisors.ca.DEFINITIONS AND ADVISORIES Currency: All amounts referred to in this press release are stated in Canadian dollars unless otherwise specified.Forward-Looking Information: This press release contains certain forward-looking information within the meaning of Canadian securities laws. Forward-looking information relates to future events or future performance and is based upon the Corporation's current internal expectations, estimates, projections, assumptions and beliefs. All information other than historical fact is forward-looking information. Words such as "plan", "expect", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words that indicate events or conditions may occur are intended to identify forward-looking information. More particularly and without limitation, this press release contains forward looking information relating to the timing and anticipated receipt of required Securityholder and court approvals for the Transaction; the anticipated de-listing of the Painted Pony Shares from the TSX upon completion of the Transaction; the ability of Painted Pony and the Purchaser to satisfy the other conditions to, and to complete, the Transaction; and the anticipated timing of the holding of the Meeting and the closing of the Transaction.In respect of the forward-looking statements concerning the anticipated completion of the Transaction, the anticipated timing for completion of the Transaction and the anticipated de-listing of the Painted Pony Shares from the TSX following completion of the Transaction, the Purchaser and Painted Pony have provided such in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner, the necessary Securityholder and court approvals and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement Agreement.By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Painted Pony's control.  Completion of the Transaction is subject to a number of conditions which are typical for transactions of this nature.  Failure to satisfy any of these conditions, the emergence of a superior proposal or the failure to obtain approval of Securityholders may result in the termination of the Arrangement Agreement.  The foregoing list is not exhaustive.  Additional information on these and other risks that could affect completion of the Transaction are set forth in the management information circular, which is available on SEDAR at www.sedar.com.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.  The actual results, performance or achievement of Painted Pony could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Painted Pony will derive therefrom.Painted Pony disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.ABOUT PAINTED PONYPainted Pony is a publicly traded natural gas company based in Western Canada. The Corporation is primarily focused on the development of natural gas and natural gas liquids from the Montney formation in northeast British Columbia. Painted Pony's common shares trade on the TSX under the symbol "PONY".Contact Information: Patrick R. Ward President and Chief Executive OfficerStuart W. Jaggard Chief Financial OfficerJason W. Fleury Director, Investor Relations (403) 776-3261(403) 475-0440 1-866-975-0440 toll free ir@paintedpony.ca www.paintedpony.ca