CANADIAN NATURAL RESOURCES Ltd (CNQ): price, analyst ratings, earnings and fundamentals
Updated 16 September 2026, 08:02 ET
CANADIAN NATURAL RESOURCES Ltd (CNQ) closed at $51.55 on 15 September 2026, up 2.4%. The stock is up 7.5% over one month and up 65.3% over one year. It trades 1.5% below its 52-week high of $52.31. The company last reported on 6 August 2026 for Q2 2026: EPS of $1.58 against an estimate of $1.40, a beat of 12.9%, on revenue of $10.6 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open CNQ in FundSpec.
Analyst ratings
No analyst action on CNQ was recorded in the last 90 days; the most recent is from 12 March 2026.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 12 Mar 2026 | Goldman Sachs | Maintains Buy | $37.00 to $49.00 |
| 6 Mar 2026 | RBC Capital | Maintains Outperform | $61.00 to $65.00 |
| 2 Jan 2026 | Goldman Sachs | Maintains Buy | $36.00 to $35.00 |
| 24 Sep 2025 | RBC Capital | Reiterates Outperform | $62.00 |
| 8 Aug 2025 | RBC Capital | Maintains Outperform | $64.00 to $62.00 |
| 27 Mar 2025 | RBC Capital | Reiterates Outperform | $63.00 |
| 7 Mar 2025 | RBC Capital | Maintains Outperform | $62.00 to $63.00 |
| 18 Feb 2025 | RBC Capital | Reiterates Outperform | $62.00 |
| 11 Jun 2024 | Scotiabank | Maintains Sector Perform | $114.00 to $57.00 |
| 11 Jan 2024 | JP Morgan | Maintains Neutral | $50.50 to $51.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 5 November 2026 before the open for Q3 2026, with EPS expected at $1.13 on revenue of $8.6 billion. CANADIAN NATURAL RESOURCES Ltd beat the EPS estimate in 7 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 6 Aug 2026 | $1.40 | $1.58 | +12.93% | $10.6B |
| Q1 2026 | 7 May 2026 | $0.74 | $0.85 | +14.86% | $7.9B |
| Q4 2025 | 5 Mar 2026 | $0.53 | $0.59 | +11.32% | $6.9B |
| Q3 2025 | 6 Nov 2025 | $0.54 | $0.62 | +15.74% | $6.9B |
| Q2 2025 | 7 Aug 2025 | $0.44 | $0.51 | +15.91% | $6.3B |
| Q1 2025 | 8 May 2025 | $0.73 | $0.81 | +10.96% | $7.6B |
| Q4 2024 | 6 Mar 2025 | $0.69 | $0.66 | -4.35% | $6.8B |
| Q3 2024 | 31 Oct 2024 | $0.64 | $0.71 | +10.94% | $6.5B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
On a trailing twelve month basis the company shows revenue growth of 8.71%, a gross margin of N.A., an operating margin of 36.84% and a return on equity of 25.81%.
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $673,000,000 |
| Inventory | $2,621,000,000 |
| Other Current Assets | $70,000,000 |
| Total Current Assets | $7,664,000,000 |
| Plant, Property & Equipment, Net | $77,645,000,000 |
| Deferred Tax Asset | $4,583,000,000 |
| Total Assets | $91,830,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Other Current Liabilities | $1,665,000,000 |
| Total Current Liabilities | $8,063,000,000 |
| Long-term Debt | $16,617,000,000 |
| Other Liabilities | $11,936,000,000 |
| Total Liabilities | $47,464,000,000 |
| Retained Earnings | $32,726,000,000 |
| Total Stockholders Equity | $44,366,000,000 |
| Total Liability & Stockholders Equity | $91,830,000,000 |
Figures as filed with the SEC for the period ended 31 December 2025, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 0.08 | 32nd | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 0.95 | 43rd | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.18 | 64th | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.37 | 57th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Financial Leverage | 1.08 | 64th | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
| Long Term Debt/Long Term Capital | 0.27 | 37th | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
| Long Term Debt/Total Capital | 0.27 | 37th | Calculated as (Short-Term Debt + Long-Term Debt / (Short-Term Debt + Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 77.2% | 78th | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | -0.4% | 44th | The Net Income compound annual growth rate (CAGR) over the past 3 years |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Operating Cashflow Pct Growth | 12.8% | 55th | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | -8.0% | 31st | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 26.2% | 88th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Operating Margin Pct | 36.8% | 92nd | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| PreTax Margin Pct | 34.2% | 89th | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 12.2% | 92nd | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 25.8% | 90th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 19.9% | 89th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 8.7% | 58th | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | -2.9% | 27th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | 18.1% | 80th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 18.3% | 62nd | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open CNQ in FundSpec.
Company profile
- Exchange
- NYSE
- Sector
- Oil and Gas
- Industry
- Petroleum And Natural Gas
- Headquarters
- Calgary
- Chief executive
- Steve W. Laut
- Employees
- 9,740
- Website
- cnrl.com
- SEC CIK
- 0001017413
Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, markets and sells crude oil, natural gas, and natural gas liquids. It operates primarily in Western Canada, the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation.
Sector and peers
CANADIAN NATURAL RESOURCES Ltd is part of the Oil and Gas sector, which FundSpec tracks across 92 companies.
Companies in the same industry by market capitalization:
PBR Petrobras - Petroleo Brasileiro SAE Eni SpaCVE Cenovus Energy Inc.EC Ecopetrol S.A.PBA Pembina Pipeline Corp.
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for CNQ are available to subscribers, with the same screen in the iOS and Android apps.
Open CNQ in FundSpec