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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Natural Resources Limited    CNQ   CA1363851017

CANADIAN NATURAL RESOURCES LIMITED

(CNQ)
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TSX falls as energy shares slump with oil prices

06/07/2017 | 05:09pm EST
A man walks past an old Toronto Stock Exchange sign in Toronto

TORONTO (Reuters) - Canada's main stock index fell on Wednesday as a sharp drop in oil prices put pressure on energy shares, which slumped to an 11-month low, while investors weighed political uncertainty ahead of key events on Thursday.

U.S. crude <CLc1> prices fell more than 5 percent to $45.75 a barrel after the U.S. government reported an unexpected increase in inventories of crude and gasoline. [O/R]

"It sheds light on the challenge that the oil markets are facing. OPEC can cut, but it is having very little impact on the overall price as the U.S. is offsetting production cuts out of the Middle East with production increases of its own," Philip Petursson, chief investment strategist at Manulife, said in a telephone interview.

Some of the biggest weights on the index were Canadian Natural Resources Ltd (>> Canadian Natural Resources Limited), which fell 2.7 percent to C$38.54 and Suncor Energy Inc (>> Suncor Energy Inc.), which was down 2.6 percent at C$41.14.

The overall energy group slumped to its lowest since June 27, down 3.4 percent.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5 percent.

Gold prices fell from near seven-month highs on a stronger dollar and after prepared testimony by former FBI Director James Comey - released on Wednesday in advance of his Thursday appearance before a U.S. Senate committee - was seen as containing few surprises. But declines were limited as uncertainty from Thursday's election in Britain remained.

If stocks decline on Comey's testimony on Thursday, there could be a buying opportunity, Petursson said.

"When we look ahead into Q2 and Q3 earnings growth, they look very robust," he added.

Telecommunication shares lost 1.4 percent. Still, the group has rallied more than 13 percent since mid-November.

The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed down 92.42 points, or 0.6 percent, at 15,372.14. Eight of the index's 10 main groups ended lower.

The financial services group was one of only two of the index's 10 main groups to end higher. It rose 0.3 percent, helped by a 3.6 percent gain for Sun Life Financial Inc (>> Sun Life Financial Inc) to C$45.42 after RBC raised its rating on the stock to outperform from sector perform.

Canadian dollar-store operator Dollarama Inc (>> Dollarama Inc) reported a better-than-expected profit for the eighth straight quarter, as customers on average spent more at its stores, sending shares to an all-time high. Its shares rose 0.8 percent to C$129.02.

(Reporting by Fergal Smith; editing by Grant McCool and Jonathan Oatis)

By Fergal Smith


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -0.64% 1.555 End-of-day quote.-0.32%
BASE CO., LTD. 0.33% 6070 End-of-day quote.-1.30%
BASE,INC. 3.40% 13380 End-of-day quote.37.09%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.11% 0.78779 Delayed Quote.0.04%
CANADIAN NATURAL RESOURCES LIMITED -0.48% 30.96 Delayed Quote.1.21%
DOLLARAMA INC. 1.52% 51.57 Delayed Quote.-0.60%
EURO / CANADIAN DOLLAR (EUR/CAD) -0.16% 1.54589 Delayed Quote.-0.29%
GOLD -0.22% 1853.62 Delayed Quote.-2.27%
S&P/TSX COMPOSITE INDEX -0.39% 17845.91 Delayed Quote.2.37%
SUN LIFE FINANCIAL INC. -0.85% 60.73 Delayed Quote.7.30%
SUNCOR ENERGY INC. -1.79% 22.53 Delayed Quote.5.53%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.26% 1.2689 Delayed Quote.0.04%
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Financials
Sales 2020 16 553 M 13 035 M 13 035 M
Net income 2020 -1 077 M -848 M -848 M
Net Debt 2020 21 571 M 16 987 M 16 987 M
P/E ratio 2020 -33,7x
Yield 2020 5,40%
Capitalization 36 566 M 28 734 M 28 795 M
EV / Sales 2020 3,51x
EV / Sales 2021 2,80x
Nbr of Employees 10 180
Free-Float 97,8%
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Technical analysis trends CANADIAN NATURAL RESOURCES LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 38,95 CAD
Last Close Price 30,96 CAD
Spread / Highest target 45,3%
Spread / Average Target 25,8%
Spread / Lowest Target 3,36%
EPS Revisions
Managers and Directors
NameTitle
Tim Shawn McKay President, Chief Operating Officer & Director
Norman Murray Edwards Executive Chairman
Mark A. Stainthorpe Chief Financial Officer & Senior VP-Finance
Stephen C. Suche Vice President-Information & Corporate Services
Joy P. Romero Vice President-Technology & Innovation
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN NATURAL RESOURCES LIMITED1.21%28 734
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CNOOC LIMITED8.64%44 921
EOG RESOURCES, INC.10.01%32 004
PIONEER NATURAL RESOURCES COMPANY15.16%28 398
ECOPETROL S.A.4.86%27 429