Professional
Added to YB: 2024-04-23
Pitch date: 2024-04-08
CNQ [bullish]
Canadian Natural Resources Limited
-9.43%
current return
Author Info
No bio for this author
Company Info
Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa.
Market Cap
CAD 99.3B
Pitch Price
CAD 50.17
Price Target
100.00 (+120%)
Dividend
4.93%
EV/EBITDA
7.21
P/E
15.06
EV/Sales
3.05
Sector
Oil, Gas and Consumable Fuels
Category
dividend
RBC Capital Markets Investment Thesis: Canadian Natural Resources Limited
CNQ: No CEO, run by 22-person mgmt committee. Low-decline portfolio generates superior FCF. 100% FCF ($10B+ in 2023) to dividends & buybacks in 2024. $100 PT on 1.3x NAV, 9x 2024E DACF at mid-cycle prices. Risks: commodity prices, FX, legislation.
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