Canadian Natural Resources (CNQ) reported earnings 30 days ago. What's next for the stock?
Following a careful analysis of the Zacks Oil and Gas - Exploration and Production - Canadian industry, we advise focusing on companies like CNQ, OVV and BTE.
Canadian (CNQ) projects total liquid production to range from 977-1,008 thousand barrels of oil equivalent per day, with total capital expenditures amounting to C$5,420 million for 2024.
Canadian Natural Resources posted a rise in quarterly profit on Thursday, as the energy producer benefited from higher crude prices and an increase in output.
Higher oil prices and ramped-up production are likely to have boosted Canadian Natural Resources' (CNQ) profit in the second quarter.
Canadian Natural Resources (CNQ) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Investors need to pay close attention to Canadian Natural (CNQ) stock based on the movements in the options market lately.
Canadian Natural Resources Limited offers one of the strongest shareholder yields in the oil and gas industry, with substantial growth potential. Positive macro outlook for the Company due to firming oil prices, improved transportation capacity, and potential Fed rate cuts. CNQ is expected to report strong earnings, with revenue and earnings growth and high cash flow generation.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
The S&P 500's recent gains are concentrated in a few stocks, raising diversification concerns and making stock picking more attractive for future earnings growth in various sectors. Investors should focus on stocks with strong balance sheets and consistent dividend growth while avoiding low-quality small caps despite the potential for market broadening. Three standout dividend stocks are highlighted for their significant undervaluation, financial health, and high growth potential, offering promising opportunities for discerning investors.
Value investing remains favorable, despite missing out on hot stocks like Nvidia and Dell Technologies due to inflated valuations in tech growth stocks. The stock market is forward-looking, with tech growth stocks already pricing in future earnings, potentially leading to lackluster gains in the future. Canadian Natural Resources offers stability with its oil sands reserves and strong free cash flow returns, while MPLX provides reliable cash flows and growth potential in the midstream energy sector.
Oil and gas stocks have gotten left out of the party in 2024. The price of crude oil dipped below $80 per barrel in April and has not risen much past that mark as investors fret about a potential economic slowdown.