Canadian Natural Resources

Dividend Leadership And Capital Return Focus Will Guide Stability Ahead

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

07 Nov 24

Updated

06 Dec 25

Views

1.3k

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

-1.8%

7D

-7.9%

Loading

1Y

-1.8%

7D

-7.9%

You can edit this narrative until Dec 7 11:05 PM. Then, changes will post as Updates.

Author's Valuation

CA$52.9518.8% undervalued

AnalystConsensusTarget Fair Value

Shared on 06 Dec 25

CNQ: Dividend Returns And Volume Gains Will Support Resilient Future Performance

Analysts have nudged our price target for Canadian Natural Resources modestly higher to reflect a tighter spread between valuation inputs and rising Street targets in the mid C$50s. This is supported by expectations for resilient oil pricing, stronger crack spreads, and ongoing prioritization of dividend growth and capital returns despite a broadly cautious view on the energy sector.

Shared on 22 Nov 25

Fair value Increased 0.24%

CNQ: Dividend Growth Momentum Will Support Outperformance Amid Sector Bearishness

Canadian Natural Resources saw its fair value estimate rise modestly by approximately C$0.13. Analysts cite improved revenue growth expectations and ongoing sector resilience amid recent price target updates from several firms.

Shared on 08 Nov 25

Fair value Increased 0.28%

CNQ: Dividend Momentum Will Drive Shareholder Returns As Production Grows

Analysts have modestly raised their price target for Canadian Natural Resources, increasing it from $52.68 to $52.83. They cite ongoing strength in dividend growth and resilient energy equities despite softer demand indicators.

Shared on 25 Oct 25

Fair value Decreased 0.37%

Canadian Natural Resources' analyst price target was adjusted slightly lower by $0.19, as analysts cite moderating profit margins and revenue expectations. This is offset by continued confidence in the company’s capital return strategy.

Shared on 10 Oct 25

Fair value Increased 1.40%

Canadian Natural Resources saw its analyst price target rise modestly by approximately C$0.73 as analysts highlight improved profit margins and updated commodity price expectations. Analyst Commentary Recent analyst activity on Canadian Natural Resources signals shifting sentiment amid evolving commodity price dynamics and updated financial outlooks.

Shared on 01 May 25

Fair value Decreased 5.49%

Shared on 23 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 17 Apr 25

Fair value Decreased 5.26%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Decreased 0.92%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Increased 7.70%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Decreased 0.44%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 12 Mar 25

Fair value Increased 6.59%

AnalystConsensusTarget has increased revenue growth from 0.8% to 3.6%.

AnalystConsensusTarget Fair Value

CA$52.95

18.8% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

-0.78%

Oil and Gas revenue growth rate

1.14%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

6.12%

Calculation

CA$8.85b

Earnings '28

x

14.53x

PE Ratio '28

=

CA$128.64b

Market Cap '28

CA$128.64b

Market Cap '28

/

2.03b

No. shares '28

=

CA$63.27

Share Price '28

CA$63.27 Share Price '28

Discounted to 2025 @ 6.12% p.a.

=

CA$52.94

Fair Value '25