Canadian Natural Resources: Still Room For Market-Beating Returns [Seeking Alpha]
Canadian Natural Resources Limited (CNQ)
Last canadian natural resources limited earnings: 3/5 05:00 am
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US:NYSE Investor Relations:
cnrl.com/investor-information
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Source: Seeking Alpha
Evgenii Mitroshin/iStock via Getty ImagesPlease note all figures are in CAD unless otherwise noted as that is the company's reporting currency.IntroductionFor those who follow my work you may recall I wrote a bullish thesis on Canadian NaturalResources (NYSE:CNQ) in March of 2021 where I made the following conclusion:CNQ is a low downside risk way to play the oil and gas rebound with significant upside still to be realized, especially if the EIA forecasts on oil and natural gas pricing comes to fruition. I expect double-digit total returns over the next couple years including a well covered 5% dividend yield while waiting for capital appreciation.Source:Canadian Natural ResourcesAt the time the share price was $37/share and I estimated fair value of at least $46/share based on its NAV. Since then the share price has increased to ~$80/share ($60/share on the NYSE) for a 116% return excluding dividends. The value of CNQ's proved reserves have increased from $62B to $120B YoY and it has
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News
- 3 Canadian Dividend Stocks Offering Yields From 3.9% To 8.6% [Yahoo! Finance]Yahoo! Finance
- Canadian Natural Resources Limited (NYSE: CNQ) was downgraded by analysts at Desjardins from a "buy" rating to a "hold" rating.MarketBeat
- Tuesday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- iA Financial Plus Two Other High Yielding Dividend Stocks In Canada [Yahoo! Finance]Yahoo! Finance
- Most actively traded companies on the Toronto Stock Exchange [Financial Post (Toronto, Ontario, Canada)]Financial Post
CNQ
Sec Filings
- 3/20/24 - Form 40-F
- 3/20/24 - Form 6-K
- 3/8/24 - Form 6-K
- CNQ's page on the SEC website