Canadian Natural Resources Limited (CNQ) reported a record production level of approximately 1.58 million barrels of oil equivalent per day (BOE/d) in Q1 2025, with 79% of this output from long-life, low-decline assets. The company achieved adjusted net earnings of C$2.4 billion and C$4.5 billion in adjusted funds flow during the quarter.
Despite a recent 12.1% decline in share price over the past year, CNQ’s quarterly dividend was set at 58.75 Canadian cents, yielding 5.3% annually. However, the company faces risks including C$17.3 billion in long-term debt, operational risks related to the AOSP turnaround expected to decrease output by 31,000 BOE/d, and a high capital spending budget of C$6.05 billion for 2025.
Looking ahead, the Zacks Consensus Estimate for CNQ’s 2025 earnings per share stands at $2.33, indicating a 7.91% year-over-year decline, while revenues are projected to rise 3.6% year-over-year to $26.96 billion.
