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General information

Country: CANADA

Sector: Oil and Gas E and P

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), 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. As of December 31, 2019, the company had gross proved crude oil, bitumen, SCO, and NGLs reserves totaled 9,917 million barrels; gross proved plus probable crude oil, bitumen, SCO, and NGLs reserves totaled 12,651 million barrels; proved natural gas reserves totaled 6,460 billion cubic feet; and gross proved plus probable natural gas reserves totaled 9,607 billion cubic feet. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. 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.
  • Current market environment: negative. Prices of production are 22.4% lower compared to the last 12 months (LTM)
  • Prices of production are at 45.5% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 6.5%
  • Free cash flow yield 15.7% (LTM), projected 6.3%
  • Share price is 364.0% higher than minimum and 19.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (4.2x vs
  • The company is undervalued by EV / projected EBITDA multiple compared to target level (

Key Financials (Download financials)

Ticker: CNQ
Share price, USD:  (+0.7%)55.35
year average price 57.07  

year start price 63.06 2022-04-02

max close price 68.78 2022-04-20

min close price 44.78 2022-09-26

current price 55.35 2023-04-01
Common stocks: 1 187 212 000

Dividend Yield:  6.5%
FCF Yield LTM / expected: 15.7% / 6.3%
EV / EBITDA annualized: 4.2x
Production prices change from LTM: -22.4%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 65 712
Net Debt ($m): 8 966
EV (Enterprise Value): 74 678
EBITDA LTM ($m): 17 711
Price to Book: 2.3x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF / Free Cash Flow ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / LTM EBITDA and 75% percentile

Potential dynamics


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2023-03-14Seeking Alpha

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2023-03-02Seeking Alpha

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2023-02-21Zacks Investment Research

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2023-02-16Zacks Investment Research

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2023-02-09Seeking Alpha

Canadian Natural Resources: One Of The Safest Ways To Play Oil

2023-02-02Zacks Investment Research

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2023-01-19Zacks Investment Research

Canadian Natural Resources Limited (CNQ) Is a Trending Stock: Facts to Know Before Betting on It
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