Canadian Natural Resources (NYSE:CNQ) Releases Earnings Results, Beats Estimates By $0.11 EPS

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) posted its quarterly earnings results on Thursday. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11, Zacks reports. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.80%. The company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.57 billion. During the same period last year, the firm posted $1.16 EPS.

Here are the key takeaways from Canadian Natural Resources’ conference call:

• Record Q1 production and a sustained SCO premium drove very strong netbacks and free cash flow — Q1 production averaged ~1,643,000 BOE/d with liquids ~1,198,000 bpd and SCO forward premium ~US$5.70/bbl for the remainder of 2026.
• Robust financial results and shareholder returns — adjusted net earnings of CAD 2.4B and adjusted funds flow of CAD 4.4B; net debt fell below CAD 16B, the board set a 75% of FCF payout target, and CAD 360M of buybacks were completed since March 31 (annualized dividend CAD 2.50).
• Execution on growth projects — Jackfish exceeded nameplate (averaged ~134,000 bpd) with Pike One pads producing ~41,000 bpd and management advancing FEED/long‑lead procurement for a 30kbd Jackfish expansion and 70kbd Pike 2.
• Larger oil‑sands mining expansion remains contingent on long‑term egress, regulatory and fiscal frameworks (MoU) and pipeline capacity; management says resolving these constraints is required before committing to major mining growth.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded down $0.22 during trading hours on Friday, hitting $44.52. 8,409,617 shares of the company traded hands, compared to its average volume of 11,261,196. The firm has a market cap of $92.87 billion, a P/E ratio of 13.29 and a beta of 0.47. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $46.63 and its two-hundred day simple moving average is $38.73. Canadian Natural Resources has a 1-year low of $29.30 and a 1-year high of $51.34.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Friday, June 19th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.50 annualized dividend and a yield of 5.6%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.63%.

Trending Headlines about Canadian Natural Resources

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Canadian Natural Resources beat Q1 expectations, with earnings and revenue coming in above analyst estimates; that kind of outperformance can support the stock as investors reward better-than-expected operating results. Article Title
• Positive Sentiment: Raymond James upgraded Canadian Natural Resources from “market perform” to “outperform,” while Zacks Research also raised its view to “strong-buy,” signaling improved analyst confidence in CNQ’s outlook. Article Title
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, underscoring its cash-return profile and offering investors a 5.6% annualized yield, which can attract income-focused buyers. Article Title
• Neutral Sentiment: CNQ also released first-quarter results showing strong revenue but softer profitability metrics versus last year, including lower gross profit, operating profit, and EPS year over year, which may temper enthusiasm even after the earnings beat. Article Title

Hedge Funds Weigh In On Canadian Natural Resources

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in Canadian Natural Resources by 48.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,529 shares of the oil and gas producer’s stock valued at $86,000 after buying an additional 822 shares during the period. Canopy Partners LLC acquired a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $214,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $239,000. Scientech Research LLC acquired a new position in shares of Canadian Natural Resources in the 3rd quarter worth approximately $250,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Canadian Natural Resources in the 3rd quarter worth approximately $254,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CNQ. Weiss Ratings upgraded shares of Canadian Natural Resources from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 27th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday. ATB Cormark Capital Markets downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. The Goldman Sachs Group lifted their price objective on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Royal Bank Of Canada lifted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.