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    CNQ   CA1363851017

CANADIAN NATURAL RESOURCES LIMITED

(CNQ)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-02-07 pm EST
79.33 CAD   +2.11%
02/03Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms
RE
01/30Goldman Sachs Lifts Price Target on Canadian Natural Resources to $65 From $64 on Lower Cost of Capital, Keeps Buy Rating
MT
01/27Hess Downgraded, Though 'World-Class Growth Story' in Guyana Intact, Goldman Sachs Says
MT
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Canadian Natural Resources plans $5.2 billion in capital spending in 2023

11/30/2022 | 09:56am EST

CALGARYCanadian Natural Resources Ltd. says it expects to spend $5.2 billion on its capital budget next year as it looks to grow production.

The company says the plan includes about $4.2 billion in base capital spending and $1.0 billion in strategic growth capital.

In its guidance, the company says it expects production between 1,330,000 and 1,374,000 barrels of oil equivalent per day in 2023.

The target implies an increase of four per cent over targeted 2022 levels, based on the midpoint of the range.

Canadian Natural says its 2023 targeted production mix consists of about 44 per cent high value light and synthetic crude oil, 29 per cent bitumen and heavy crude oil and 27 per cent natural gas, based on the midpoint of its guidance range.

The company also set a new target for a 40 per cent reduction in total corporate absolute Scope 1 and Scope 2 greenhouse gas emissions by 2035, from a 2020 baseline.

This report by The Canadian Press was first published Nov. 30, 2022.

Companies in this story: (TSX:CNQ)

© 2022 The Canadian Press. All rights reserved., source Canadian Press DataFile

All news about CANADIAN NATURAL RESOURCES LIMITED
02/03Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms
RE
01/30Goldman Sachs Lifts Price Target on Canadian Natural Resources to $65 From $64 on Lower..
MT
01/27Hess Downgraded, Though 'World-Class Growth Story' in Guyana Intact, Goldman Sachs Says
MT
01/27Canadian Natural Resources Kept at Buy at Goldman Sachs Ahead of Q4 Results; Price Targ..
MT
01/27National Bank of Canada Notes Challenging Q4 2022 For Oil, Gas And Consumable Fuels Com..
MT
01/23Cenovus Energy CEO says Alberta, Ottawa must 'turn down temp,' talk more
RE
01/19Blueberry River Agreement to Return Oil and Gas Exploration to Northeastern British Col..
MT
01/18Canadian province and First Nations reach Montney shale play deal
RE
01/18British Columbia reaches deal with First Nations in Canada's Montney shale play
RE
01/17Canadian Natural Resources Kept at Buy at TPH as Q4 Estimates Trimmed; Price Target Low..
MT
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Analyst Recommendations on CANADIAN NATURAL RESOURCES LIMITED
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Financials
Sales 2022 43 425 M 32 310 M 32 310 M
Net income 2022 11 903 M 8 857 M 8 857 M
Net Debt 2022 11 679 M 8 690 M 8 690 M
P/E ratio 2022 7,63x
Yield 2022 5,58%
Capitalization 87 821 M 65 344 M 65 344 M
EV / Sales 2022 2,29x
EV / Sales 2023 2,61x
Nbr of Employees 9 735
Free-Float 97,8%
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Technical analysis trends CANADIAN NATURAL RESOURCES LIMITED
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 79,33 CAD
Average target price 92,23 CAD
Spread / Average Target 16,3%
EPS Revisions
Managers and Directors
Tim Shawn McKay President, Chief Operating Officer & Director
Mark A. Stainthorpe Chief Financial Officer & Senior VP-Finance
Norman Murray Edwards Executive Chairman
Stephen C. Suche Vice President-Information & Corporate Services
David Arnold Tuer Independent Director
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