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Canadian Natural Resources Limited
Type
Public company
Traded as TSX: CNQ
NYSE: CNQ
S&P/TSX 60 component
Industry Oil and gas
Founded Calgary, Alberta (1973)
Headquarters Calgary, Alberta
Key people
Steve Laut (President)
Tim S. Mckay (COO)
Murray Edwards (Chairman)
Revenue $17.945 billion CAD (2013, before royalties)
Number of employees
10,029 (June 2017)
Website www.cnrl.com

Canadian Natural Resources Limited, or CNRL or Canadian Natural, is a Canadian oil and gas exploration, development and production company, with its corporate head office in Calgary, Alberta. Along with its core area Western Canadian Sedimentary Basin (WCSB), CNRL also has North Sea and offshore West Africa fields. By 2011, with a production of 121,000 barrels (19,200 m), CNRL was Canada's largest oil company and Canada's "single biggest conventional heavy oil producer". By 2009 CNRL ranked number 251 on the Forbes Global 2000 list.

CNRL is one of the largest independent crude oil and natural gas producers in the world, with its head office in Calgary, and operations focused in the Western Canadian Sedimentary Basin, the North Sea and offshore West Africa.

With headquarters located in Calgary, Alberta, the company operates field offices in Alberta, British Columbia, Saskatchewan, as well as international offices in Gabon, Côte d'Ivoire and Aberdeen, Scotland.

According to the company it has the largest undeveloped base in the Western Canadian Sedimentary Basin: it is the largest independent producer of natural gas in Western Canada and the largest producer of heavy crude oil in Canada.

Canadian Natural's largest operation is the Horizon Oil Sands project which is located 75 kilometres (47 mi) north of Fort McMurray, Alberta. The Horizon Oil Sands include a surface oil sands mining and bitumen extraction plant, complimented by on-site bitumen upgrading with associated infrastructure. Canadian Natural's sanctioned the Horizon Oil Sands Project in February 2005 and it produced its first barrels of synthetic crude oil in early 2009.

International operations concentrates in the United Kingdom portion of the North Sea and in offshore Africa. In the North Sea, it focuses on managing existing infrastructure. In offshore Africa, the company operates in Côté d'Ivoire and Gabon.

In 1988, Canadian Natural was heavily in debt due to a combination of excessive leverage in late 1970s and early 1980s, and the collapse of oil prices in 1986. It was forced into a restructuring that saw the majority of its geographically scattered assets sold. It employed 9 people, produced about 1,400 barrels (220 m) of oil equivalent per day and had a market capitalization of about $1 million. Through growth and acquisitions, it has grown to approximately 8000 employees, production of over 817,000 barrels of oil equivalent per day and a market capitalization of approximately $45 billion.

In late November 2014, a CNRL pipeline spilled almost 60,000 liters of crude oil into a muskeg region in northern Alberta, located roughly 27 kilometers from Red Earth Creek. 2014 was a poor safety year for CNRL.

In November 2015, the firm announced it would sell most of its royalty assets to PrairieSky Royalty Ltd for around $1.8 billion.

In March, 2017, Canadian Natural Resources announced plans to spend C$12.74 billion in cash and shares in a blockbuster deal to acquire the bulk of Royal Dutch Shell’s oilsands holdings and half of Marathon Oil’s minority stake in the Athabasca Oil Sands Project in Alberta.

Canadian Natural's common shares are listed on the New York Stock Exchange under the symbol CNQ and under the Toronto Stock Exchange as CNQ and CNQ.U which denotes trading in US funds.

Canadian Natural is a limited liability, publicly traded corporation. Current members of the board of directors are: Catherine M. Best, N. Murray Edwards, Honourable Gary A. Filmon, Ambassador Gordon D. Giffin, John G. Langille, Steve W. Laut, Keith A.J. MacPhail, Honourable Frank J. McKenna, James S. Palmer, Eldon R. Smith and David A. Tuer.

News

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-03-03 Future report Set alerts
Q3 2020 2020-11-05 Future report Set alerts
Q2 2020 2020-08-06 -0.65 -0.26
Q1 2020 2020-05-07 -0.25 -1.08
Q4 2019 2020-03-05 0.58 0.50
Q3 2019 2019-11-07 1.04 0.87
Q2 2019 2019-08-01 0.87 2.36
Q1 2019 2019-05-09 0.70 0.80
Q4 2018 2019-03-07 -0.21 -0.64
Q3 2018 2018-11-01 1.11 1.47

Ratings

2016-06-20 Reiterated Rating Nomura Buy
2016-06-20 Reiterated Rating Nomura Holdings Inc. Buy
2016-06-17 Reiterated Rating Citigroup Inc. Buy $28.63 to $34.00
2016-06-17 Reiterated Rating TD Securities Hold $38.00
2016-06-17 Reiterated Rating Scotiabank Outperform $35.00 to $42.00
2016-06-16 Reiterated Rating Credit Suisse Buy
2016-06-16 Reiterated Rating Credit Suisse Group AG Buy
2016-06-15 Upgrade RBC Capital Outperform to Top Pick
2016-06-15 Upgrade Royal Bank Of Canada Outperform to Top Pick
2016-06-14 Boost Price Target RBC Capital Outperform $43.00 to $50.00
2016-05-19 Reiterated Rating Raymond James Outperform
2016-05-19 Reiterated Rating Raymond James Financial Inc. Outperform
2016-05-09 Reiterated Rating Barclays Overweight $36.00 to $39.00
2016-05-09 Reiterated Rating Barclays PLC Overweight $36.00 to $39.00
2016-05-05 Upgrade National Bank Financial Sector Perform to Outperform
2016-04-07 Boost Price Target Citigroup Inc. Buy $25.00 to $29.00
2016-04-01 Downgrade TD Securities Buy to Hold
2016-03-07 Reiterated Rating RBC Capital Outperform $35.00 to $39.00
2016-03-07 Reiterated Rating Raymond James Outperform $36.00 to $41.00
2016-03-07 Reiterated Rating National Bank Financial Sector Perform $32.00 to $35.00
2016-03-07 Reiterated Rating CIBC Sector Outperform $36.00 to $40.00
2016-03-07 Reiterated Rating BMO Capital Markets Outperform $34.00 to $36.00
2016-03-04 Downgrade Desjardins Buy to Hold
2016-03-04 Upgrade JPMorgan Chase & Co. Neutral to Overweight
2016-01-30 Reiterated Rating JPMorgan Chase & Co. Neutral
2016-01-25 Reiterated Rating RBC Capital Outperform $35.00
2016-01-21 Lower Price Target Nomura Buy $39.00 to $34.00
2016-01-12 Downgrade Morgan Stanley Overweight to Equal Weight
2016-01-12 Reiterated Rating Societe Generale Buy $40.00 to $35.00
2016-01-08 Downgrade Macquarie Outperform to Neutral
2016-01-05 Upgrade Citigroup Inc. Neutral to Buy $26.00 to $25.00
2015-12-15 Lower Price Target JPMorgan Chase & Co. Neutral $33.00 to $30.00
2015-11-09 Reiterated Rating Scotiabank Outperform $38.00 to $39.00
2015-11-09 Reiterated Rating Raymond James Outperform $36.00 to $38.00
2015-11-09 Reiterated Rating National Bank Financial Outperform $38.00 to $40.00
2015-11-06 Boost Price Target RBC Capital Outperform $37.00 to $39.00
2015-10-21 Reiterated Rating Barclays Overweight $35.00
2015-10-14 Reiterated Rating RBC Capital Outperform
2015-10-08 Upgrade Wolfe Research Underperform to Market Perform
2015-09-29 Lower Price Target Scotiabank $41.00 to $38.00
2015-09-23 Lower Price Target CIBC $43.50 to $36.00
2015-09-14 Lower Price Target Citigroup Inc. Neutral $28.00 to $23.00
2015-09-11 Upgrade Bank of America Buy $64.00
2015-09-11 Upgrade Bank of America Corp. Buy $64.00
2015-09-08 Reiterated Rating Raymond James Outperform $36.00
2015-09-08 Reiterated Rating Barclays Overweight $36.00 to $35.00
2015-09-04 Lower Price Target BMO Capital Markets Outperform $44.00 to $38.00
2015-08-26 Downgrade JPMorgan Chase & Co. Overweight to Neutral
2015-08-21 Lower Price Target Barclays Overweight $42.00 to $36.00
2015-08-18 Lower Price Target Societe Generale Buy $45.00 to $40.00
2015-08-07 Reiterated Rating Scotiabank Sector Outperform $21.00
2015-08-07 Upgrade Raymond James Market Perform to Outperform
2015-07-21 Lower Price Target CIBC Sector Outperformer $50.00 to $43.50
2015-07-08 Lower Price Target Scotiabank $42.00 to $41.00
2015-06-29 Initiated Coverage Goldman Sachs Neutral $31.00
2015-06-29 Initiated Coverage Goldman Sachs Group Inc. Neutral $31.00
2015-05-28 Initiated Coverage JPMorgan Chase & Co. Overweight
2015-05-11 Reiterated Rating National Bank Financial Outperform $46.00 to $48.00
2015-05-11 Upgrade FirstEnergy Capital Top Pick
2015-05-08 Boost Price Target RBC Capital Outperform $43.00 to $45.00
2015-04-27 Reiterated Rating Barclays Overweight $41.00 to $40.00
2015-04-22 Initiated Coverage Nomura Buy
2015-04-14 Initiated Coverage GMP Securities Buy to Buy
2015-04-09 Reiterated Rating Citigroup Inc. Hold $34.00 to $36.00
2015-03-10 Upgrade Veritas Investment Research Sell to Buy
2015-03-06 Upgrade Cormark Market Perform to Buy
2015-03-06 Reiterated Rating Citigroup Inc. Hold $28.00 to $34.00
2015-03-06 Boost Price Target RBC Capital Outperform $41.00 to $43.00
2014-12-08 Downgrade Citigroup Inc. Buy to Neutral $50.00 to $36.00
2014-12-01 Downgrade Wolfe Research Market Perform to Underperform
2014-09-26 Upgrade TD Securities Hold to Buy
2014-09-16 Initiated Coverage AltaCorp Capital Outperform
2014-08-14 Initiated Coverage Howard Weil Sector Perform
2014-07-17 Set Price Target CIBC $54.00 to $57.00
2014-07-07 Upgrade BMO Capital Markets Sector Perform to Outperform
2014-06-23 Boost Price Target FirstEnergy Capital $5.00 to $56.00
2014-06-19 Reiterated Rating Citigroup Inc. Buy $42.00 to $50.00
2014-06-18 Reiterated Rating Scotiabank Sector Outperform
2014-06-18 Boost Price Target Barclays Overweight $53.00
2014-05-12 Upgrade FirstEnergy Capital Outperform to Top Pick
2014-04-15 Reiterated Rating CIBC Sector Perform $52.00
2014-03-27 Upgrade FirstEnergy Capital Market Perform to Outperform
2014-03-19 Initiated Coverage Morgan Stanley Overweight $51.00
2014-03-18 Initiated Coverage CIBC Sector Outperform to Outperform
2014-02-21 Downgrade FirstEnergy Capital Outperform to Market Perform
2014-02-20 Reiterated Rating Scotiabank Sector Outperform
2014-02-20 Upgrade Macquarie Neutral to Outperform
2014-01-21 Upgrade Global Hunter Securities Accumulate to Buy $40.00 to $44.00
2014-01-10 Upgrade BMO Capital Markets Market Perform to Outperform
2013-12-11 Downgrade FirstEnergy Capital Outperform
2013-12-03 Reiterated Rating Raymond James Market Perform $38.00
2013-11-08 Reiterated Rating Scotiabank Sector Outperform $42.00
2013-11-08 Boost Price Target RBC Capital Outperform $40.00 to $41.00
2013-11-08 Boost Price Target National Bank Financial $40.00 to $42.00
2013-11-08 Boost Price Target Canaccord Genuity Buy $42.00
2013-10-11 Reiterated Rating Scotiabank Sector Outperform $42.00
2013-10-10 Upgrade Canaccord Genuity Hold to Buy
2013-09-26 Reiterated Rating RBC Capital Outperform $38.00
2013-09-24 Boost Price Target Scotiabank $38.00 to $42.00
2010-12-06 Upgrade Stifel Nicolaus Hold to Buy $50
2010-03-29 Downgrade UBS Buy to Neutral
2009-07-14 Reiterated Barclays Capital Equal Weight $54 to $60
2009-05-05 Downgrade Barclays Capital Overweight to Equal Weight
2016-06-20 Reiterated Rating Nomura Buy
2016-06-20 Reiterated Rating Nomura Holdings Inc. Buy
2016-06-17 Reiterated Rating Citigroup Inc. Buy $28.63 to $34.00
2016-06-17 Reiterated Rating TD Securities Hold $38.00
2016-06-17 Reiterated Rating Scotiabank Outperform $35.00 to $42.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks

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