Canadian Natural Resources Stock Price, News & Analysis

Canadian Natural (TSX: CNQ) reported strong Q3 2025 results with record quarterly production of 1,620,261 BOE/d, up ~19% (~257,000 BOE/d) from Q3/24, including record liquids of 1,175,604 bbl/d and natural gas of 2,668 MMcf/d. Adjusted net earnings from operations were $1.8 billion and adjusted funds flow was $3.9 billion for the quarter.

The company returned ~$1.5 billion to shareholders in Q3 (dividends $1.2B, buybacks $0.3B) and reports liquidity of ~$4.3 billion as at Sept 30, 2025. Subsequent to quarter end, CNQ closed an AOSP swap effective March 1, 2025 adding ~31,000 bbl/d of zero-decline bitumen and updated 2025 production guidance to 1,560–1,580 MBOE/d.

Canadian Natural Resources (TSX: CNQ) closed an asset swap with Shell effective March 1, 2025, exchanging a 10% interest in the Scotford upgrader and Quest CCS for Shell's remaining 10% interest in the Albian oil sands mines and other non-producing leases.

Post-swap, Canadian Natural owns 100% of the Albian mines, retains an 80% non-operated interest in Scotford and Quest, and adds ~31,000 bbl/d of zero-decline bitumen. 2025 production guidance is updated to 1,560–1,580 MBOE/d (approx. +207 MBOE/d or 15% vs. 2024 at midpoint). 2025 operating capital remains ~$5.9B; total capital forecast is $6.68B including $690M of unbudgeted acquisitions.

Canadian Natural Resources (NYSE:CNQ) has declared a quarterly cash dividend of C$0.5875 per common share, payable on October 3, 2025, to shareholders of record as of September 19, 2025.

The dividend announcement marks the company's 25th consecutive year of dividend increases, with an impressive compound annual growth rate (CAGR) of 21% over this period. This consistent growth reflects the Board's confidence in CNQ's sustainable business model, strong balance sheet, and diverse portfolio of long-life, low-decline reserves.

Canadian Natural Resources (NYSE:CNQ) reported strong Q2 2025 results with adjusted net earnings of $1.5 billion ($0.71 per share) and adjusted funds flow of $3.3 billion ($1.56 per share). The company achieved quarterly production of 1,420,358 BOE/d, a 10% increase from Q2 2024.

Key operational highlights include completing the AOSP turnaround ahead of schedule, with July 2025 Oil Sands production averaging 602,000 bbl/d. The company closed two strategic acquisitions: the Palliser Block in southern Alberta and liquids-rich Montney assets for $750 million.

CNQ returned $1.6 billion to shareholders in Q2, including $1.2 billion in dividends and $0.4 billion in share repurchases. The company maintains strong liquidity of $4.8 billion and targets to reduce year-end 2025 net debt by approximately $2 billion from 2024 levels.

Canadian Natural Resources Limited (CNQ) held its Annual and Special Meeting of Shareholders on May 8, 2025, where shareholders voted on several key resolutions. All 12 nominated directors were successfully elected with approval rates ranging from 86.56% to 99.36%. PricewaterhouseCoopers LLP was appointed as auditors with 95.05% approval. The company's Amended, Compiled and Restated Employee Stock Option Plan received 83.78% approval, while the advisory vote on executive compensation garnered strong support with 97.98% approval. The highest approval among directors went to Dr. M. Elizabeth Cannon at 99.36%, while Ambassador Gordon D. Giffin received the lowest support at 86.56%.

Canadian Natural Resources Limited (CNQ) has declared a quarterly cash dividend of C$0.5875 per common share, payable on July 3, 2025, to shareholders of record as of June 13, 2025. This represents a 4% increase from the previous quarter, announced in March 2025. The company has achieved a remarkable milestone with 25 consecutive years of dividend increases, demonstrating a compound annual growth rate (CAGR) of 21%. This consistent dividend growth reflects the company's robust business model, strong balance sheet, and diverse portfolio of long-life, low-decline reserves across Western Canada, the U.K. North Sea, and Offshore Africa.

Canadian Natural Resources (CNQ) reported strong Q1 2025 results with record quarterly production of 1,582,348 BOE/d. The company achieved net earnings of $2.5 billion ($1.17 per share) and adjusted funds flow of $4.5 billion ($2.16 per share). Notable achievements include record SCO production of 595,116 bbl/d with industry-leading operating costs of $21.88/bbl. The company returned $1.7 billion to shareholders through $1.2 billion in dividends and $0.5 billion in share repurchases. CNQ increased its quarterly dividend by 4% to $0.5875 per share, marking its 25th consecutive year of dividend increases. The company reduced its 2025 capital budget by $100 million to $6.05 billion and decreased net debt by $1.4 billion while maintaining strong liquidity of $5.1 billion.

Canadian Natural Resources (TSX: CNQ) (NYSE: CNQ) has announced an amendment to its Amended, Compiled and Restated Stock Option Plan. The key modification clarifies that any changes to the Plan's amendment provisions now require explicit shareholder approval.

The amendment updates information on page 16 and Schedule D of the company's March 19, 2025 proxy statement and management information circular. Shareholders will vote on approving unallocated stock options under the modified Plan at the upcoming annual and special meeting scheduled for May 8, 2025 at 11:00 am (MDT).

The company states that this amendment aligns with Institutional Shareholder Services (ISS) policies and encourages shareholders to vote in favor of approving the unallocated stock options under the modified Plan.

Canadian Natural Resources (CNQ) has announced a new Normal Course Issuer Bid (NCIB) program, allowing the company to purchase and cancel up to 178,738,237 shares (10% of public float) between March 13, 2025, and March 12, 2026. The daily purchase limit on TSX is set at 2,835,635 shares.

The company has outlined its free cash flow allocation strategy:

• 60% to shareholder returns and 40% to balance sheet until net debt reaches $15 billion
• 75% to shareholder returns and 25% to balance sheet when net debt is between $12-15 billion
• 100% to shareholder returns when net debt is at or below $12 billion

Under its previous NCIB program, CNQ purchased 52,380,000 common shares at a weighted average price of $48.35. The company plans to implement an automatic share purchase plan (ASPP) on March 13, 2025, facilitating share repurchases during blackout periods.