Canadian Natural Resources(US:CNQ) ZACKS·2026-03-03 15:16Core Viewpoint - Canadian Natural Resources (CNQ) is expected to report quarterly earnings of $0.53 per share, reflecting a 19.7% decline year-over-year, with revenues forecasted at $6.62 billion, a decrease of 2.1% compared to the previous year [1]. Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [2]. Production Volumes Projections - Analysts project 'Total Equivalent Production' to reach 1,646,976 barrels of oil equivalent per day, up from 1,470,428 barrels per day in the same quarter last year [4]. - The estimate for 'Total crude oil and NGL' production is 1,202,722 barrels per day, compared to 1,090,002 barrels per day in the previous year [5]. - 'Crude Oil and NGLs - North America E&P - Thermal In Situ' is expected to reach 280.83 thousand barrels per day, up from 276.23 thousand barrels per day year-over-year [6]. - 'Crude Oil and NGLs - Oil Sands Mining and Upgrading' is projected at 603.17 thousand barrels per day, compared to 534.63 thousand barrels per day last year [7]. - 'Crude Oil and NGLs Sales Volumes - North America - NGLs' is estimated at 107.38 thousand barrels per day, up from 81.79 thousand barrels per day in the previous year [8]. - 'Crude Oil and NGLs - International - North Sea' is expected to be 9.72 thousand barrels per day, down from 11.47 thousand barrels per day last year [9]. - 'Crude Oil and NGLs - International - Offshore Africa' is projected at 3.80 thousand barrels per day, down from 11.94 thousand barrels per day in the previous year [10]. - 'Natural Gas - North America' production is expected to reach 2,693 thousand cubic feet per day, up from 2,273 thousand cubic feet per day last year [11]. - 'Natural Gas - International - Offshore Africa' is projected at 10 thousand cubic feet per day, up from 6 thousand cubic feet per day in the previous year [12]. - 'Natural Gas - International - North Sea' is expected to be 2 thousand cubic feet per day, down from 4 thousand cubic feet per day last year [13]. - 'Crude Oil and NGLs - North America E&P - Primary Heavy' is projected at 89.89 thousand barrels per day, up from 82.13 thousand barrels per day last year [14]. Stock Performance - Over the past month, shares of Canadian Natural Resources have increased by 21.5%, while the Zacks S&P 500 composite has decreased by 1.3%, with CNQ currently holding a Zacks Rank 3 (Hold) [14].