Core Viewpoint - Canadian Natural Resources Limited (CNQ) is expected to report second-quarter earnings on August 1, with a consensus estimate of 55 cents per share and revenues of $6.2 billion, reflecting a year-over-year improvement of 27.9% in earnings and a 5.5% increase in revenues [2][13]. Group 1: Recent Performance - In the last reported quarter, CNQ missed the consensus earnings estimate, reporting adjusted earnings per share of 51 cents, which was a penny below expectations, while revenues of $6.1 billion exceeded the consensus by 1.8% due to strong production [3]. - The company has a trailing four-quarter earnings surprise average of 5.5%, having topped estimates in two of the last four quarters [13]. Group 2: Production and Infrastructure - CNQ is anticipated to benefit from higher production levels, with an expected output of 1,327,890 barrels of oil equivalent per day during the quarter [6]. - The recent startup of the Trans Mountain pipeline expansion is expected to enhance CNQ's crude oil transportation efficiency, reducing bottlenecks and transportation costs, which should support higher export volumes and profitability [7]. Group 3: Market Conditions - Strengthening oil prices are likely to significantly benefit CNQ's revenues and cash flows, with a forecasted mid-single-digit revenue growth for the quarter [14]. - The estimated price for North America Light Crude Oil & NGL is projected at C$71.14 per barrel, indicating a 10% improvement from the previous year [14]. Group 4: Earnings Expectations - The company has an Earnings ESP of +9.84% and a Zacks Rank of 2 (Buy), indicating a strong likelihood of an earnings beat this season [9][8]. - The Zacks Consensus Estimate for the second-quarter bottom line has remained unchanged over the past week, suggesting stability in expectations [13].

Company Overview - Canadian Natural Resources Limited (CNQ) is experiencing significant attention from investors due to high implied volatility in its options market, particularly the Sep 20, 2024 $60 Call option [1] - The company currently holds a Zacks Rank 3 (Hold) in the Oil and Gas - Exploration and Production - Canadian industry, which ranks in the bottom 28% of the Zacks Industry Rank [3] Analyst Sentiment - Over the last 60 days, there has been a mixed sentiment among analysts regarding Canadian Natural's earnings estimates; one analyst has increased the estimate for the current quarter, while two have revised their estimates downward [3] - The net effect of these revisions has decreased the Zacks Consensus Estimate for the current quarter from 66 cents per share to 55 cents [3] Options Market Insights - The high implied volatility suggests that options traders are anticipating a significant price movement for Canadian Natural shares, indicating potential upcoming events that could lead to a rally or sell-off [2][5] - Traders often seek options with high implied volatility to sell premium, aiming to benefit from the decay of options value if the underlying stock does not move as much as expected [5]

Past Coverage Canadian Natural Resources is not the cheapest oil company, but it is one of the highest-quality oil companies. It has a clean balance sheet, offers great shareholder returns, has an excellent track record, low break-even costs, a long reserve life, and so on. Considering these many positives, the current valuation is not high at all, I believe: JamesBrey 1 Children Art First Article Thesis I have covered Canadian Natural Resources Limited several times here on Seeking Alpha, most recently a l ...

Introduction I believe it is one of my most important articles, as we could be on the verge of a major shift that could potentially have a major impact on future returns. Dmytro Synelnychenko/iStock via Getty Images On June 24, I wrote an article titled "Stock Picking Was 'Never' More Attractive: 3 Terrific Dividend Stocks To Buy." The S&P 500's recent gains have been heavily concentrated in a few stocks, raising diversification concerns. There is valid skepticism about the sustainability of these developme ...

Value investing remains my favorite way to put capital to work, even in this inflationary environment. That means, however, that I've missed out on some spectacular gains on hot stocks like Nvidia (NVDA) and Dell Technologies (DELL) this year, as AI has dominated the investor consciousness over much of the past year. Nonetheless, it's important to keep in mind that the stock market is forward-looking, and with all of the hype around tech growth stocks today, many years' worth of future earnings have already ...

Core Viewpoint - The crude oil price has dipped below $80 per barrel, raising concerns about a potential economic slowdown, which has negatively impacted oil and gas stocks in 2024. However, certain energy stocks are positioned to benefit and provide substantial dividends despite these macroeconomic concerns [1][2][4]. Group 1: Oil and Gas Market Overview - Crude oil prices have not significantly risen above $80 per barrel since April, with natural gas prices remaining below $3 per British thermal unit (BTU), down from a peak of around $10 in 2022 [1]. - Oil and gas stocks have underperformed the market this year due to macroeconomic concerns, but some stocks are highlighted as potential buys [2][3]. Group 2: Canadian Natural Resources (CNQ) - Canadian Natural Resources is a major player in the Canadian energy sector, particularly in the Alberta oil sands, which are considered attractive assets under current political and economic conditions [6][7]. - Oil sands production resembles hard rock mining, offering a long production life with minimal declines, unlike shale and fracking [7]. - The company reported a netback of $37 CAD per barrel last quarter, indicating strong profit margins despite price volatility [13]. Group 3: Exxon Mobil (XOM) - Exxon Mobil is recognized as one of the world's leading energy companies, with a diversified portfolio that includes oil and gas production, refining, and renewables [15]. - The company is known for its strategic capital allocation, often investing counter-cyclically to maximize shareholder returns [16]. - Exxon Mobil's robust balance sheet provides stability for dividends, insulating it from short-term price fluctuations [11]. Group 4: Ecopetrol (EC) - Ecopetrol is Colombia's state-operated oil company, with the government controlling 88% of the firm [20]. - The company has a strong market position and is a low-cost oil producer, allowing it to pay high dividends, which are variable based on profitability [18][21]. - In 2023, Ecopetrol paid nearly $3 per share in dividends, yielding over 25%, and has announced a $1.62 dividend for 2024, resulting in a 13.9% yield based on current stock price [21].

Company Overview - Canadian Natural Resources (CNQ) is based in Calgary, Alberta, Canada, and operates in the Oils-Energy sector [3] - The company's shares have experienced a price change of 15.64% this year [3] Dividend Information - CNQ currently pays a dividend of $0.77 per share, resulting in a dividend yield of 4.08%, which is significantly higher than the Oil and Gas - Exploration and Production - Canadian industry's yield of 1.7% and the S&P 500's yield of 1.58% [3] - The annualized dividend of $3.09 represents a 13.4% increase from the previous year [4] - Over the last 5 years, CNQ has increased its dividend 5 times year-over-year, averaging an annual increase of 27.34% [4] - The current payout ratio for CNQ is 56%, indicating that the company pays out 56% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - The Zacks Consensus Estimate for CNQ's earnings in 2024 is $5.75 per share, reflecting a year-over-year growth rate of 0.35% [5] Investment Considerations - CNQ is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7]

Canadian Natural Resources Limited (CNQ) reported first-quarter 2024 net earnings per share (EPS) of C$0.91, down from the prior-year quarter level of C$1.62. This underperformance can be mainly attributed to low commodity prices and higher year-over-year expenses during the quarter.Total revenues of $6.1 billion declined from $6.4 billion in the year-ago period due to a reduction in product sales. However, the figure beat the Zacks Consensus Estimate of $6 billion.CNQ’s board of directors announced a quart ...

Gerasimov174 All financial numbers in this article are in Canadian dollars unless noted otherwise. Canadian Natural Resources Overview It's time to talk about Canadian Natural Resources Limited (NYSE:CNQ), a company that has become one of my largest energy stocks and my favorite upstream player. On January 12, I wrote an article titled "A 12% Distribution Yield At $80 WTI is Why I Sold Exxon To Buy Canadian Natural Resources." As the title may suggest, its highly favorite free cash flow profile is one ...

Lance Casson - Investor Relations Scott Stauth - Chief Operating Officer, Oil Sands Mark Stainthorpe - Chief Financial Officer Good morning. We would like to welcome everyone to the Canadian Natural's 2024 First Quarter Earnings Conference Call and Webcast. After the presentation, we will conduct a question-and-answer session. Instructions will be given at that time. Please note, this call is being recorded today, May 02, 2024 at 07:00 AM Mountain Time. Speaking on today's call will be Scott Stauth, our Pre ...