Canadian Natural Resources Ltd T.CNQ

Alternate Symbol(s): 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 North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. The oil sands mining and upgrading segment produces synthetic crude oil through bitumen mining and upgrading operations at Horizon Oil Sands and through its direct and indirect interest in the Athabasca Oil Sands Project. Within Western Canada in the midstream and refining segment, the Company maintains certain activities that include pipeline operations, an electricity co-generation system and an investment in the Northwest Redwater Partnership, a general partnership formed to upgrade and refine bitumen in the Province of Alberta.

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Canadian Natural Resources Ltd

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Post by Possibleidiot01on Aug 28, 2023 3:02pm

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Post# 35608577

Brianne Gardner - BNN - Top Pick

Canadian Natural Resources (CNQ TSX)

Oil stocks are turning upward again now, along with the price of oil which recently topped US$80 per barrel once again. CNQ has industry-leading free cash flows. This provides for a robust and sustainable business and dividends for shareholders. It offers a 4.42 per cent dividend yield in addition to its large share buyback program. Its debt-reduction and efficiency focus over the next few years puts the company in a better long-term position to endure the inevitable cyclical turns. A really well-run business, it’s had amazing revenue growth the last 10 years while keeping profit margins strong so that earnings growth has kept up. We see some attractive valuations in the oil and gas space, with some businesses still near 30-year low values, and CNQ is still good value.

TOP PICK

Technical opportunity in the energy space. Oil topping $80/barrel gives it industry-leading free cashflow. Robust, sustainable business and dividend. Well run, amazing revenue growth. Good value with more upside. Target price of $91. Weaker USD will benefit all commodities. Yield is 4.24%.

(Analysts’ price target is $91.26)

oil / gas

$84.430