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Neil Mehta, Goldman Sachs managing director, joins 'Money Movers' to discuss his thoughts on the oil sector, the major oil companies, and more.
Following a careful analysis of the Zacks Oil and Gas - Exploration and Production - Canadian industry, we advise focusing on companies like CNQ, OVV and BTE.
Canadian Natural Resources is a bullish investment opportunity due to its efficient operations, deep reserves, and commitment to shareholder distributions. The expansion of the Trans Mountain pipeline presents significant opportunities for increased production and improved market access. CNQ's recent earnings report showcased record production, prudent cost management, and achievements in debt reduction and shareholder returns.
Canadian (CNQ) expects to achieve production growth of 1,455 MBOE/d by the end of 2024, up 40% from that anticipated at the end of 2023.
Canadian Natural Resources Limited (CNQ) Q4 2023 Earnings Call Transcript
Although the revenue and EPS for Canadian Natural Resources (CNQ) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Canadian Natural Resources (CNQ) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.44 per share a year ago.
Canadian Natural Resources (CNQ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Fossil fuel companies offer low valuations and high free-cash-flow yields, making them attractive investments. North American Explorer and producer stocks are great hedges against geopolitical risk in fossil fuel-producing regions. Canadian Natural Resources focuses on the liquids segment, improving its hedge potential and exposure to current market trends.
Canadian Natural Resources Limited showed a strong operational performance and raised its dividend by 11% in Q3-2023. CNQ's budget for 2024 is $5.42 billion, with a focus on liquids growth and a 3-7% growth per share in production. The company has some wood to chop to get valuation in line with peers.