Canadian Natural Resources (CNQ.TO) Stock Price

Canadian Natural Resources Price

TSX·CLOSED
66.38CAD+0.06 (+0.09 %)
Market closed

Over the last 19 years Canadian Natural Resources grew revenue by 6.5% annually, reaching 38.76 B CAD. Earnings per share have grown at 8.1% per year over the last 19 years. For Canadian Natural Resources, the net margin of 27.9% is up versus 23.3% a few years ago. At today's price the dividend yield works out to roughly 3.54%. The payout ratio is around 45% of earnings. The dividend has grown at 11.4% per year over the past 19 years. The consensus 12-month price target for Canadian Natural Resources is 52.53 CAD, about 20.9% below where the stock trades today. Of 25 analysts, 15 rate the stock a buy — an overall Buy consensus. The stock trades about 63% above its 52-week low.

Canadian Natural Resources stock price

Volume
Ex-Dividend
Details

Stock Price

ⓘ

How to Read This Chart

This chart tracks the historical stock price of Canadian Natural Resources over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Canadian Natural Resources stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Canadian Natural Resources's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Canadian Natural Resources Stock Price History
DateCanadian Natural Resources Price
8/12/202666.38 CAD
8/11/202666.32 CAD
8/10/202665.67 CAD
8/7/202663.45 CAD
8/6/202663.83 CAD
8/5/202663.89 CAD
8/4/202664.50 CAD
7/31/202666.78 CAD
7/30/202666.22 CAD
7/29/202665.04 CAD
7/27/202663.43 CAD
7/23/202666.20 CAD
7/22/202664.45 CAD
7/21/202663.31 CAD
7/20/202661.88 CAD
7/17/202661.42 CAD
7/16/202660.20 CAD
7/15/202660.11 CAD
7/14/202660.00 CAD
7/13/202660.49 CAD
7/10/202659.10 CAD
7/9/202659.40 CAD
7/8/202658.59 CAD
7/7/202657.74 CAD
7/6/202655.95 CAD
7/3/202656.58 CAD
7/2/202656.40 CAD
6/30/202656.12 CAD
6/29/202656.19 CAD
6/26/202656.02 CAD
6/25/202656.19 CAD
6/24/202656.06 CAD
6/23/202658.21 CAD
6/22/202659.14 CAD
6/19/202658.77 CAD
6/18/202657.96 CAD
6/17/202660.48 CAD
6/16/202660.11 CAD
6/15/202661.15 CAD
6/12/202663.29 CAD
6/11/202664.96 CAD
6/10/202663.46 CAD
6/9/202662.38 CAD
6/8/202664.66 CAD
6/5/202665.45 CAD
6/4/202666.28 CAD
6/3/202666.78 CAD
6/2/202664.20 CAD
6/1/202664.89 CAD
5/29/202662.27 CAD
5/28/202663.60 CAD
5/27/202663.83 CAD
5/26/202665.39 CAD
5/25/202665.38 CAD
5/22/202667.49 CAD
5/21/202668.09 CAD
5/20/202667.44 CAD
5/19/202667.95 CAD
5/15/202666.08 CAD
5/14/202665.30 CAD
5/13/202664.69 CAD
5/12/202664.27 CAD
5/11/202661.76 CAD
5/8/202660.89 CAD
5/7/202660.96 CAD
5/6/202662.26 CAD
5/5/202665.26 CAD
5/4/202664.75 CAD
5/1/202663.88 CAD
4/30/202664.84 CAD
4/29/202664.63 CAD
4/28/202663.44 CAD
4/27/202661.43 CAD
4/24/202660.69 CAD
4/23/202662.21 CAD
4/22/202661.11 CAD
4/21/202660.55 CAD
4/20/202659.03 CAD
4/17/202658.81 CAD
4/16/202663.47 CAD
4/15/202662.91 CAD
4/14/202662.80 CAD
4/13/202664.68 CAD
4/10/202664.16 CAD
4/9/202663.14 CAD
4/8/202664.12 CAD
4/7/202668.23 CAD
4/6/202667.23 CAD
4/2/202666.15 CAD
4/1/202664.64 CAD
3/31/202667.86 CAD
3/30/202668.83 CAD
3/27/202669.46 CAD
3/26/202667.52 CAD
3/25/202668.00 CAD
3/24/202667.48 CAD
3/23/202666.49 CAD
3/20/202667.39 CAD
3/19/202669.50 CAD
3/18/202667.49 CAD
3/17/202667.15 CAD
3/16/202666.74 CAD
3/13/202666.51 CAD
3/12/202666.17 CAD
3/11/202664.18 CAD
3/10/202662.11 CAD
3/9/202662.77 CAD
3/6/202662.96 CAD
3/5/202661.96 CAD
3/4/202660.24 CAD
3/3/202660.36 CAD
3/2/202660.58 CAD
2/27/202659.67 CAD
2/26/202658.95 CAD
2/25/202658.23 CAD
2/24/202658.35 CAD
2/23/202658.02 CAD
2/20/202658.00 CAD
2/19/202658.23 CAD
2/18/202657.09 CAD
2/17/202655.38 CAD
2/13/202655.39 CAD
2/12/202654.43 CAD
2/11/202655.17 CAD
2/10/202653.03 CAD
2/9/202653.12 CAD
2/6/202653.40 CAD
2/5/202651.90 CAD
2/4/202652.65 CAD
2/3/202651.11 CAD
2/2/202649.91 CAD
1/30/202650.63 CAD
1/29/202651.02 CAD
1/28/202650.23 CAD
1/27/202649.81 CAD
1/26/202649.43 CAD
1/23/202649.47 CAD
1/22/202648.89 CAD
1/21/202649.75 CAD
1/20/202647.62 CAD
1/19/202648.05 CAD
1/16/202647.79 CAD
1/15/202647.44 CAD
1/14/202648.03 CAD
1/13/202645.99 CAD
1/12/202644.81 CAD
1/9/202644.62 CAD
1/8/202643.71 CAD
1/7/202642.38 CAD
1/6/202643.60 CAD
1/5/202644.28 CAD
1/2/202647.12 CAD
12/31/202546.49 CAD
12/30/202546.47 CAD
12/29/202545.49 CAD
12/24/202545.07 CAD
12/23/202544.96 CAD
12/22/202544.48 CAD
12/19/202543.99 CAD
12/18/202543.41 CAD
12/17/202543.95 CAD
12/16/202543.00 CAD
12/15/202544.66 CAD
12/12/202545.44 CAD
12/11/202545.62 CAD
12/10/202546.51 CAD
12/9/202546.67 CAD
12/8/202547.21 CAD
12/5/202547.96 CAD
12/4/202548.09 CAD
12/3/202547.64 CAD
12/2/202546.94 CAD
12/1/202547.67 CAD
11/28/202547.29 CAD
11/27/202546.73 CAD
11/26/202546.80 CAD
11/25/202546.84 CAD
11/24/202546.48 CAD
11/21/202547.11 CAD
11/20/202547.90 CAD
11/19/202547.79 CAD
11/18/202547.56 CAD
11/17/202546.87 CAD
11/14/202547.06 CAD
11/13/202545.66 CAD
11/12/202545.42 CAD
11/11/202545.38 CAD
11/10/202544.82 CAD
11/7/202544.40 CAD
11/6/202544.44 CAD
11/5/202545.01 CAD
11/4/202544.18 CAD
11/3/202544.90 CAD
10/31/202544.87 CAD
10/30/202544.67 CAD
10/29/202544.83 CAD
10/28/202543.68 CAD
10/27/202544.11 CAD
10/24/202543.78 CAD
10/23/202543.68 CAD
10/22/202542.45 CAD
10/21/202541.91 CAD
10/20/202542.23 CAD
10/17/202542.19 CAD
10/16/202542.49 CAD
10/15/202543.36 CAD
10/14/202543.44 CAD
10/10/202543.97 CAD
10/9/202545.88 CAD
10/8/202545.55 CAD
10/7/202545.72 CAD
10/6/202545.28 CAD
10/3/202544.40 CAD
10/2/202543.92 CAD
10/1/202544.26 CAD
9/30/202544.50 CAD
9/29/202545.03 CAD
9/26/202545.57 CAD
9/25/202545.27 CAD
9/24/202545.55 CAD
9/23/202544.44 CAD
9/22/202544.40 CAD
9/19/202543.58 CAD
9/18/202544.89 CAD
9/17/202545.14 CAD
9/16/202545.28 CAD
9/15/202544.15 CAD
9/12/202543.21 CAD
9/11/202543.18 CAD
9/10/202543.24 CAD
9/9/202542.82 CAD
9/8/202541.86 CAD
9/5/202542.06 CAD
9/4/202543.39 CAD
9/3/202543.08 CAD
9/2/202544.11 CAD
8/29/202543.49 CAD
8/28/202543.33 CAD
8/27/202543.16 CAD
8/26/202542.16 CAD
8/25/202543.03 CAD
8/22/202543.07 CAD
8/21/202541.94 CAD
8/20/202541.10 CAD
8/19/202540.66 CAD
8/18/202541.12 CAD
8/15/202541.23 CAD
Access this data via the Eulerpool API
Get Free API Key

Canadian Natural Resources Revenue, EBIT, Net Income

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2023
40.84 B CAD
10.46 B CAD
8.23 B CAD
Jan 1, 2024
41.51 B CAD
9.73 B CAD
6.11 B CAD
Jan 1, 2025
38.76 B CAD
8.23 B CAD
10.82 B CAD
Jan 1, 2026 (e)
45.51 B CAD
14.03 B CAD
12.30 B CAD
Jan 1, 2027 (e)
41.37 B CAD
13.09 B CAD
11.13 B CAD
Jan 1, 2028 (e)
44.39 B CAD
12.91 B CAD
10.86 B CAD
Jan 1, 2029 (e)
47.92 B CAD
13.93 B CAD
11.94 B CAD
Jan 1, 2030 (e)
45.76 B CAD
13.30 B CAD
12.43 B CAD

Canadian Natural Resources Income Statement, Balance Sheet, Cash Flow Statement

Last updated Aug 15, 2026, 6:32 AM
 
REVENUEB CAD
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEB CAD
EBITB CAD
EBIT MARGIN%
NET INCOMEB CAD
NET INCOME GROWTH%
DIV.CAD
DIV. GROWTH%
SHARESB
201520162017201820192020202120222023202420252026e2027e2028e2029e2030e
13.1712.0018.3622.2824.3916.8932.8549.5340.8441.5138.7645.5141.3744.3947.9245.76
-38.19-8.8552.9721.369.48-30.7594.4850.76-17.561.65-6.6217.41-9.117.327.94-4.52
-1.71-3.6416.0823.4026.03-0.8132.1932.8328.8326.2523.2723.2723.2723.2723.2723.27
-0.23-0.442.955.216.35-0.1410.5816.2611.7710.909.0210.599.6310.3311.1510.65
-0.74-1.282.974.855.59-0.1210.2214.7610.469.738.2314.0313.0912.9113.9313.30
-5.64-10.6616.1521.7622.92-0.6931.1229.8025.6323.4321.2230.8231.6529.0829.0829.07
-0.64-0.202.402.595.42-0.447.6610.948.236.1110.8212.3011.1310.8611.9412.43
-116.21-67.97-1,275.008.09109.03-108.03-1,861.8442.71-24.72-25.8477.2013.70-9.54-2.449.934.15
0.920.941.101.341.501.702.004.603.702.662.352.503.003.60––
2.222.1717.0221.8211.9413.3317.65130.00-19.57-28.11-11.656.3820.0020.00––
2.192.212.442.411.181.191.181.122.182.122.092.092.092.092.092.09
Details

Income Statement Key Figures

ⓘ

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Canadian Natural Resources generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Canadian Natural Resources retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Canadian Natural Resources's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Canadian Natural Resources has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Canadian Natural Resources's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Canadian Natural Resources stock margins

The Canadian Natural Resources margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Canadian Natural Resources. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Canadian Natural Resources.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2021
32.19 %
31.12 %
23.33 %
Jan 1, 2022
32.83 %
29.80 %
22.08 %
Jan 1, 2023
28.83 %
25.63 %
20.16 %
Jan 1, 2024
26.25 %
23.43 %
14.71 %
Jan 1, 2025
23.27 %
21.22 %
27.91 %
Jan 1, 2026 (e)
23.27 %
30.82 %
27.03 %
Jan 1, 2027 (e)
23.27 %
31.65 %
26.90 %
Jan 1, 2028 (e)
23.27 %
29.08 %
24.46 %

Canadian Natural Resources Stock Revenue, EBIT, Earnings per Share

The Canadian Natural Resources earnings per share therefore indicates how much revenue Canadian Natural Resources has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2021
27.83 CAD
8.66 CAD
6.49 CAD
Jan 1, 2022
44.24 CAD
13.18 CAD
9.77 CAD
Jan 1, 2023
18.73 CAD
4.80 CAD
3.78 CAD
Jan 1, 2024
19.58 CAD
4.59 CAD
2.88 CAD
Jan 1, 2025
18.55 CAD
3.94 CAD
5.18 CAD
Jan 1, 2026 (e)
21.26 CAD
6.71 CAD
5.75 CAD
Jan 1, 2027 (e)
19.33 CAD
6.27 CAD
5.20 CAD
Jan 1, 2028 (e)
20.74 CAD
6.18 CAD
5.07 CAD

Canadian Natural Resources business model & stock analysis

Canadian Natural Resources Ltd is a Canadian energy company founded in 1989 and headquartered in Calgary. The company is engaged in the exploration, production, refining, and marketing of petroleum, natural gas, and natural resources. Canadian Natural Resources is one of the largest independent energy companies in Canada and a leading global oil and gas producer. The business model of Canadian Natural Resources is based on the exploration, production, and marketing of crude oil and natural gas. The company operates in three segments: upstream production, midstream production, and downstream production. Upstream production includes the exploration and production of oil and gas resources in Canada, North Africa, and the North Sea region. Canadian Natural Resources has numerous production areas in Canada, including the Athabasca oil sands region in Alberta, the Montney Formation in British Columbia, and the Horn River Basin in the Northwest Territories. Midstream production includes the maintenance, operation, and marketing of pipelines and oil sands tailings facilities, as well as the processing of crude oil and the transportation of liquefied natural gas (LNG). Canadian Natural Resources is a key partner in the Northern Gateway Pipelines project, which aims to transport crude oil from the Athabasca oil sands region to Kitimat on the west coast of Canada. Downstream production includes the refining of crude oil and the production of various petrochemicals and fuels. Canadian Natural Resources operates refineries and petrochemical plants throughout Canada and the United States. Canadian Natural Resources produces and markets various oil and gas products, including crude oil, light and heavy refinery products, natural gas, and liquefied natural gas (LNG). The company is also a major producer of bitumen, which is used in the production of synthetic oils and oil sands products. Canadian Natural Resources also operates a network of gas stations under the brand "Petro-Canada," serving retail and wholesale customers in Canada and the United States. Canadian Natural Resources invests heavily in new technologies to improve the efficiency and sustainability of oil and gas production. The company has developed and implemented a range of technologies that reduce environmental impact and production costs while increasing operational efficiency and safety. These technologies include hydraulic fracturing, steam-assisted gravity drainage (SAGD), and geothermal energy. Canadian Natural Resources is committed to acting responsibly and sustainably to protect the environment and the communities in which it operates. The company works closely with all regulatory authorities to ensure compliance with all environmental standards. Canadian Natural Resources also focuses on sustainability and has set a target to reduce its CO2 emissions by 30% by 2030. Overall, Canadian Natural Resources is a leading energy company specializing in the production of crude oil, natural gas, and other natural resources. Thanks to its innovative technologies and high commitment to environmental and social responsibility, the company has played a significant role in the Canadian economy and the renewable energy sector.

Canadian Natural Resources SWOT Analysis

Strengths

Canadian Natural Resources Ltd. (CNRL) benefits from a diversified asset base, including a vast portfolio of high-quality oil and gas assets. This allows the company to mitigate risk and capture opportunities in different regions.

CNRL has a strong production capability, leveraging advanced technologies and efficient operational practices. This enables the company to achieve cost advantages and maximize output, enhancing its competitive position in the industry.

The company has a solid financial position and strong cash flow generation, which supports its growth initiatives and allows for investments in exploration, acquisitions, and technological advancements.

Weaknesses

CNRL faces challenges related to the fluctuating commodity prices in the energy market. This exposes the company to potential revenue volatility and impacts its profitability.

The company operates in an industry that is subject to stringent environmental regulations. Compliance costs and potential reputational risks associated with environmental incidents represent weaknesses for CNRL.

CNRL heavily relies on the transportation infrastructure to deliver its products. Any disruptions or constraints in the transportation network could negatively affect the company's operations.

Opportunities

CNRL has the opportunity to expand its presence in emerging markets, particularly in Asia, where the energy demand is growing rapidly. This can be achieved through strategic partnerships and exploration activities.

With advancing technology, CNRL can invest in research and development to enhance its extraction and production methods, improving efficiency, reducing costs, and minimizing environmental impact.

The global transition toward cleaner energy sources presents an opportunity for CNRL to diversify its operations into renewable energy and reduce reliance on conventional oil and gas, contributing to a more sustainable future.

Threats

CNRL faces the risk of geopolitical uncertainties, including changes in government policies and regulations, which may impact the company's operations and profitability in different countries.

Volatility in global oil and gas prices, influenced by factors such as economic conditions, political tensions, and supply-demand dynamics, poses a significant threat to CNRL's financial performance.

Growing public concern over climate change and environmental sustainability could lead to increased scrutiny and social pressure on the oil and gas industry, potentially affecting CNRL's reputation and social license to operate.

Canadian Natural Resources Eulerpool Fair Value

Details

Fair Value Estimate

ⓘ

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Canadian Natural Resources historical P/E ratio, EBIT multiple, and P/S ratio

Canadian Natural Resources annual returns

Details

Annual Return

ⓘ

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Canadian Natural Resources shares outstanding

The number of shares of Canadian Natural Resources was 2.09 B in 2025. This indicates how many shares Canadian Natural Resources is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2021
1.18 B Stocks
Jan 1, 2022
1.12 B Stocks
Jan 1, 2023
2.18 B Stocks
Jan 1, 2024
2.12 B Stocks
Jan 1, 2025
2.09 B Stocks
Jan 1, 2026 (e)
2.09 B Stocks
Jan 1, 2027 (e)
2.09 B Stocks
Jan 1, 2028 (e)
2.09 B Stocks

Canadian Natural Resources stock splits

In Canadian Natural Resources's history, there have been no stock splits.

Canadian Natural Resources Dividend History

26 years of dividend payments

YearAnnual DividendYoY ChangePayments
20261.25CADYTD—2×
Mar 20, 20260.63CAD↑ 6.4%1/2
Jun 23, 20260.63CAD 0.0%2/2
20252.35CAD↓ 11.7%4×
Mar 21, 20250.59CAD↑ 4.4%1/4
Jun 13, 20250.59CAD 0.0%2/4
Sep 19, 20250.59CAD 0.0%3/4
Dec 12, 20250.59CAD 0.0%4/4
20242.66CAD↓ 28.0%4×
20233.70CAD↓ 19.6%4×
20224.60CAD↑ 130.3%5×
20212.00CAD↑ 17.5%4×
20201.70CAD↑ 13.3%4×
20191.50CAD↑ 11.9%4×
20181.34CAD↑ 21.8%4×
20171.10CAD↑ 17.0%4×

Canadian Natural Resources dividend history and estimates

In 2025, Canadian Natural Resources paid a dividend amounting to 2.35 CAD. Dividend means that Canadian Natural Resources distributes a portion of its profits to its owners.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Dividend
Dividend (Estimate)
Special dividend
Details
Date
Dividend
Dividend (Estimate)
Special dividend
Jan 1, 2021
2.00 CAD
0.00 CAD
0.00 CAD
Jan 1, 2022
4.60 CAD
0.00 CAD
0.75 CAD
Jan 1, 2023
3.70 CAD
0.00 CAD
0.00 CAD
Jan 1, 2024
2.66 CAD
0.00 CAD
0.00 CAD
Jan 1, 2025
2.35 CAD
0.00 CAD
0.00 CAD
Jan 1, 2026 (e)
1.25 CAD
1.25 CAD
0.00 CAD
Jan 1, 2027 (e)
0.00 CAD
3.00 CAD
0.00 CAD
Jan 1, 2028 (e)
0.00 CAD
3.60 CAD
0.00 CAD

Canadian Natural Resources dividend payout ratio

In 2025, Canadian Natural Resources had a payout ratio of 45.37%. The payout ratio indicates the percentage of the company's profits that Canadian Natural Resources distributes as dividends.

  • 3 Years

  • 5 Years

  • 10 Years

  • 25 Years

  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2021
15.07 %
Jan 1, 2022
23.39 %
Jan 1, 2023
48.98 %
Jan 1, 2024
74.23 %
Jan 1, 2025
45.37 %
Jan 1, 2026 (e)
43.49 %
Jan 1, 2027 (e)
57.70 %
Jan 1, 2028 (e)
70.97 %

Current Canadian Natural Resources forecasts and price targets in August 2026

Analyst Price Targets 2026
Δ MOM Price Target
0.96 %
Buy
60.00 % (15)
Hold
40.00 % (10)
Sell
0.00 % (0)
12M Price Target
52.53
Last Price
66.35
Currency
CAD
12M Return Potential
-20.83 %
LTM Return
0 %

Canadian Natural Resources Analyst Rating Actions

DateFirmActionRatingReliability
3/12/2026
Goldman Sachs
Goldman Sachs
MaintainedBuy–
3/6/2026
RBC Capital
RBC Capital
MaintainedOutperform52
1/2/2026
Goldman Sachs
Goldman Sachs
MaintainedBuy–
9/24/2025
RBC Capital
RBC Capital
MaintainedOutperform52
8/8/2025
RBC Capital
RBC Capital
MaintainedOutperform52
3/27/2025
RBC Capital
RBC Capital
MaintainedOutperform52
3/7/2025
RBC Capital
RBC Capital
MaintainedOutperform52
2/18/2025
RBC Capital
RBC Capital
MaintainedOutperform52
6/11/2024
Scotiabank
Scotiabank
MaintainedSector Perform75
1/11/2024
JP Morgan
JP Morgan
MaintainedNeutral80

Eulerpool Reliability Score (0–100): measures how often a firm’s bullish or bearish calls were directionally correct three months later, blended with the average return following its calls. Every rating we record is stored permanently and scores update continuously; firms with fewer than 3 measured calls are not scored yet.

Canadian Natural Resources Earnings Calls

2025

Canadian Natural Resources Earnings Estimates & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
5/2/20242.02CAD-9.52 BCAD-2024 Q1
2/29/20242.51CAD-9.99 BCAD-2023 Q4
8/2/20232.19CAD-9.67 BCAD-2023 Q2
5/3/20232.98CAD-11.22 BCAD-2023 Q1
3/1/20232.74CAD-10.44 BCAD-2022 Q4
11/3/20222.88CAD-10.74 BCAD-2022 Q3
8/4/20223.01CAD-10.70 BCAD-2022 Q2
5/5/20222.59CAD-9.66 BCAD-2022 Q1
3/3/20222.17CAD-8.67 BCAD-2021 Q4
11/4/20211.60CAD-7.63 BCAD-2021 Q3
...

EESG©

Eulerpool ESG Scorecard© for the Canadian Natural Resources stock

62/100
59
Environment
71
Social
56
Governance
E

Environment

20
Scope 1 - Direct Emissions23,243,100
Scope 2 - Indirect emissions from purchased energy3,092,650
Scope 3 - Indirect emissions within the value chain132,000,000
Total CO₂ emissions26,335,800
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather—
Pesticides—
Palm Oil—
Tobacco
Genetically modified organisms
Climate concept—
Sustainable forestry—
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees—
Percentage of women in management—
Percentage of Asian employees—
Share of Asian management—
Percentage of Hispanic/Latino employees—
Hispano/Latino Management share—
Percentage of Black employees—
Black Management Share—
Percentage of white employees—
White Management Share—
Adult content
Alcohol
Weapons—
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept—
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

Canadian Natural Resources shareholder structure

% Name
9.75117%
Capital World Investors
Capital World Investors
5.20114%
Capital Research Global Investors
Capital Research Global Investors
4.19801%
The Vanguard Group, Inc.
The Vanguard Group, Inc.
3.09108%
Fidelity Management & Research Company LLC
Fidelity Management & Research Company LLC
2.43028%
RBC Global Asset Management Inc.
RBC Global Asset Management Inc.
2.34830%
RBC Dominion Securities, Inc.
RBC Dominion Securities, Inc.
...

Canadian Natural Resources Beneficial Ownership Filings (SEC 13D/G)

Free Float
97.5%
Float Shares
-
Shares Outstanding
-

Canadian Natural Resources Executives and Management Board

29 members · avg. age 58 · 24 % women

SS

Mr. Scott Stauth (59)

President, Chief Executive Officer, Director

9.24 M CAD

Management

JF

Mr. Jay Froc (59)

Chief Operating Officer - Oil Sands Mining and Upgrading · since 2023

4.19 M CAD
RZ

Mr. Robin Zabek (53)

Chief Operating Officer - Exploration and Production

3.95 M CAD
MS

Mr. Mark Stainthorpe (47)

Chief Financial Officer

1.27 M CAD
VD

Mr. Victor Darel (43)

Senior Vice President - Finance, Principal Accounting Officer

–
TA

Mr. Troy Andersen (46)

Senior Vice President - Canadian Conventional Field Operations

–
CB

Mr. Calvin Bast (50)

Senior Vice President - Production

–

Board of Directors

NE

Mr. Norman Edwards (65)

Executive Chairman of the Board · since 1988

18.76 M CAD
AG

Amb. Gordon Giffin (75)

Lead Independent Director

355,000.00 CAD
TM

The Hon. Francis Mckenna (77)

Independent Director

315,000.00 CAD
CB

Ms. Catherine Best (71)

Independent Director

310,000.00 CAD
CF

Mr. Christopher Fong (75)

Independent Director

305,000.00 CAD
DT

Mr. David Tuer (74)

Independent Director

305,000.00 CAD

Frequently asked questions about Canadian Natural Resources

Canadian Natural Resources Ltd. operates as an integrated energy company engaged in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs). The company's business model focuses on extracting and producing energy resources from its diverse portfolio of assets, including oil sands, heavy oil, light and medium crude oil, natural gas, and NGLs. Canadian Natural Resources Ltd. aims to maximize shareholder value by efficiently developing and managing its resources, employing innovative technologies, optimizing production, and maintaining a strong balance sheet.

Canadian Natural Resources Ltd is primarily active in the oil and gas industry.

The main competitors of Canadian Natural Resources Ltd in the market include Suncor Energy Inc., Cenovus Energy Inc., and Imperial Oil Limited.

Canadian Natural Resources Ltd (CNRL) is a leading domestic and international energy producer based in Calgary, Canada. Founded in 1973, CNRL has grown to become one of the largest independent crude oil and natural gas producers in the country. With a primary focus on exploration, development, and production activities, CNRL operates a diverse portfolio of assets across North America, the United Kingdom, and the North Sea. Over the years, CNRL has expanded its operations through strategic acquisitions and successful exploration efforts. With a commitment to environmental stewardship and responsible energy development, CNRL has established itself as a key player in the energy sector.

Canadian Natural Resources Ltd has achieved significant milestones throughout its history. These include the acquisition of key assets such as the Horizon Oil Sands project and the purchase of Shell's Canadian assets. The company has also demonstrated strong operational performance with consistent production growth and cost reductions. Canadian Natural Resources Ltd has been successful in maximizing value for its shareholders through efficient operations, strategic acquisitions, and disciplined financial management. Additionally, the company has made significant advancements in environmental stewardship, implementing innovative technologies to minimize its carbon footprint. These achievements have solidified Canadian Natural Resources Ltd's position as a leading energy producer in Canada.

Canadian Natural Resources Ltd (CNRL) is primarily present in Canada. As a leading energy company, CNRL focuses on exploration, development, production, and marketing of crude oil, natural gas, and natural gas liquids. With a diverse portfolio of assets, CNRL operates in various regions of Canada, including Alberta, British Columbia, and Saskatchewan. The company's prominence and strong presence in the Canadian energy industry make it a key player in the country's resource development.

Canadian Natural Resources Ltd represents a strong commitment to responsible resource development. With a focus on operational excellence, the company places high value on sustainable practices, safety, and environmental stewardship. Canadian Natural Resources Ltd aims to maximize shareholder value while maintaining transparency, integrity, and ethical conduct in all operations. By prioritizing innovation and collaboration, the company strives for continuous improvement and long-term success. Through strategic investments and a strong balance sheet, Canadian Natural Resources Ltd remains dedicated to delivering value to its stakeholders and contributing to the sustainable development of Canada's natural resources sector.

Analysts currently set an average price target of 53.61 CAD for the Canadian Natural Resources stock (median: 52.53 CAD), implying -19.2 % versus the latest price. The consensus is based on 25 analyst ratings.

Canadian Natural Resources Analyst Price Targets 2026

25 analysts currently rate the Canadian Natural Resources stock: 15 recommend buying, 10 holding and 0 selling. For 2026, analysts expect Canadian Natural Resources to generate revenue of 45.51 B CAD and earnings per share of 5.89 CAD.

Canadian Natural Resources Analyst Price Targets 2026

Converted at the current exchange rate, the Canadian Natural Resources share trades at 41.34 EUR (66.38 CAD).

The Canadian Natural Resources share (CNQ.TO) is listed on 6 stock exchanges, including: NYSE (CNQ), Frankfurt (CRC.F), München (CRC.MU), Düsseldorf (CRC.DU), SIX (Zürich) (CRC.SW), Toronto (CNQ.TO).

Canadian Natural Resources Ltd (CNRL) is one of the largest independent oil and gas companies in Canada. The company operates both domestically and internationally and is considered one of the leading energy companies in the world. CNRL's main focus is on the exploration, production, and marketing of crude oil, natural gas, and liquefied natural gas (LNG). CNRL's business operations are divided into three divisions: upstream, midstream, and downstream. The upstream division is the core competency of CNRL. Upstream: CNRL's upstream division deals with the exploration, extraction, and development of oil and gas reserves in Canada, Africa, and the North Sea region. CNRL has specialized in oil sands production, with a focus on exploiting rich bitumen deposits. The company operates nine oil sands facilities in Canada, including the Horizon oil sands mine, which was ranked as the world's largest oil sands mine in 2020. The company also operates conventional natural gas fields in North America, the North Sea, and West Africa. In 2020, the daily production volume was 1,178,200 barrels of oil equivalent, with 55% coming from oil sands. Midstream: CNRL operates three major midstream facilities that are involved in the processing, storage, and marketing of natural gas and liquid natural gas products. The facilities are Wabasca, Pelican Lake, and Greater Pelican, which support the production of liquefied natural gas from the Horizon oil sands mine. In 2020, CNRL launched a new project aimed at selling processed condensed natural gas for overseas shipping. With the development of the Coastal GasLink Pipeline project, future LNG exports will be possible. Downstream: CNRL is not directly involved in the downstream sector. However, the company markets certain products, such as liquid natural gas, on the global market. Additionally, CNRL has a stake in the Fort Saskatchewan refinery, which is one of the largest refineries in Canada. In summary, CNRL's business model is based on the successful exploration and production of oil and gas using natural resources. Through its specialization in oil sands technology, the company has gained international recognition and has become a leading energy company in North America. The focus is on the production of crude oil and natural gas and maximizing the value of these products. The goal is to make the operations as sustainable as possible to minimize environmental impact.

The expected revenue of Canadian Natural Resources is 45.51 B CAD. This figure is based on current financial data and reflects the company's business performance.

The expected profit of Canadian Natural Resources is 12.30 B CAD. The net profit reflects the company's profitability after deducting all expenses.

The price-to-earnings ratio (P/E) of Canadian Natural Resources is currently 11.27. The P/E ratio compares the current share price to the earnings per share and helps investors assess the valuation of the Canadian Natural Resources stock.

The price-to-sales ratio (P/S) of Canadian Natural Resources is currently 3.05. The P/S ratio compares the market capitalization to the annual revenue and serves as a valuation metric for the Canadian Natural Resources stock.

The Eulerpool Quality Score for Canadian Natural Resources is 3/10.

The ISIN of Canadian Natural Resources is CA1363851017. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The WKN of Canadian Natural Resources is 865114. The WKN (Wertpapierkennnummer) is a six-digit German security identification number.

The ticker of Canadian Natural Resources is CNQ.TO. The ticker symbol is used to trade Canadian Natural Resources shares on the stock exchange.

Over the past 12 months, Canadian Natural Resources paid a dividend of 2.35 CAD . This corresponds to a dividend yield of about 3.54 %. For the coming 12 months, Canadian Natural Resources is expected to pay a dividend of 3.00 CAD.

The current dividend yield of Canadian Natural Resources is 3.54 %.

Canadian Natural Resources pays a dividend, distributed in the months of , , , .

Canadian Natural Resources paid dividends every year for the past 25 years.

For the upcoming 12 months, dividends amounting to 3.00 CAD are expected. This corresponds to a dividend yield of 4.52 %.

Canadian Natural Resources is assigned to the 'Energy' sector.

In the year 2025, Canadian Natural Resources distributed 2.14 CAD as dividends.

The dividends of Canadian Natural Resources are distributed in CAD.

All fundamentals and in-depth analysis of Canadian Natural Resources

Our stock analysis for Canadian Natural Resources stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Canadian Natural Resources. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.

Canadian Natural Resources Stock
Canadian Natural Resources Revenue→
Canadian Natural Resources Stock
Canadian Natural Resources Net Income→
Canadian Natural Resources Stock
Canadian Natural Resources P/E→
Canadian Natural Resources Stock
Canadian Natural Resources P/S→
Canadian Natural Resources Stock
Canadian Natural Resources EBIT→
Canadian Natural Resources Stock
Canadian Natural Resources Dividend→
Canadian Natural Resources Stock
Canadian Natural Resources Directors Dealings→
Canadian Natural Resources Stock
Canadian Natural Resources Stocks→
Canadian Natural Resources Stock
Canadian Natural Resources Market capitalization→
Canadian Natural Resources Stock
Canadian Natural Resources Debt→
Canadian Natural Resources Stock
Canadian Natural Resources Liabilities→
Canadian Natural Resources Stock
Canadian Natural Resources Equity→
Canadian Natural Resources Stock
Canadian Natural Resources AAQS→
Canadian Natural Resources Stock
Canadian Natural Resources Employees→
Canadian Natural Resources Stock
Canadian Natural Resources ROE→
Canadian Natural Resources Stock
Canadian Natural Resources ROA→
Canadian Natural Resources Stock
Canadian Natural Resources ROCE→
Canadian Natural Resources Stock
Canadian Natural Resources News→
Canadian Natural Resources Stock
Canadian Natural Resources Analyst Price Targets→

Energy Stocks

Canadian Premium SandCamecoCanadian Spirit ResourcesCalumetCanAlaska UraniumCalifornia ResourcesCanAsia EnergyCalfrac Well ServicesCangzhou Mingzhu Plastic CoCal Dive InternationalCanuc ResourcesCactusAll Stocks A–Z →