Bullboard - Stock Discussion Forum Canadian Natural Resources Ltd CNQ

Primary Symbol: T.CNQ

Energy Oil & Gas E&P

Canadian Natural Resources Limited is a Canada-based independent crude oil and natural gas exploration, development and production company. The Company's segments include exploration and production, oil sands mining and upgrading, and midstream and refining. The exploration and production segment is focused on North America, specifically in Western Canada; the United Kingdom portion of the... see more

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Canadian Natural Resources Ltd > RBC says CNQ a favourite

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Post by GrandBend on May 06, 2022 11:24am

RBC says CNQ a favourite

RBC Capital Markets Says Canadian Natural Resources Booked Strong Q1 Results

MIDNIGHTTRADER - Updated 33 minutes ago

09:49 AM EDT, 05/06/2022 (MT Newswires) -- RBC Capital Markets said Thursday that Canadian Natural Resources Ltd. (CNQ.TO) posted strong first-quarter results while establishing a new $8.0 billion net debt target, upon which it would boost shareholder returns.

Canadian Natural Resources reported first-quarter production of 1.28 million boe/d and free cash flow generation of $4.0 billion. The company also reaffirmed its 2022 midpoint production guidance of 1.3 million boe/d supported by an organic capital spending program of $4.3 billion.

RBC reiterated its outperform recommendation on the company and its price target of $85 per share.

RBC said Canadian Natural Resources is its favorite senior producer and is part of its Global Energy Best Ideas and Top 30 Global Ideas lists.

Price: 81.51, Change: -0.39, Percent Change: -0.48

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