Latest news with #CNQ
Yahoo
29-05-2025
- Business
- Yahoo
Cheniere Energy Inks 15-Year LNG Deal With Canadian Natural
Cheniere Energy, Inc. LNG recently announced that in order to secure future liquefied natural gas ('LNG') volumes, it has entered into a long-term Integrated Production Marketing ('IPM') agreement with Canadian Natural Resources Limited CNQ. The deal, made through Cheniere Marketing, LLC, underscores a deepening partnership between upstream gas producers and global LNG marketers. Under the IPM agreement, a subsidiary of CNQ will supply 140,000 million British Thermal Units of natural gas per day to Cheniere Marketing over a 15-year term, starting in 2030. CNQ will serve as the guarantor for the agreement. The resulting LNG, amounting to approximately 0.85 million tons per annum (mtpa), will be marketed by Cheniere Marketing. Cheniere, currently carrying a Zacks Rank #3 (Hold), will pay a price linked to the Platts Japan Korea Marker, net of fixed shipping and liquefaction costs, ensuring pricing transparency and market alignment. This IPM agreement is contingent upon a positive Final Investment Decision ('FID') for Cheniere's Sabine Pass Liquefaction Expansion Project (SPL Expansion Project). The company, through its partners, is developing an expansion adjacent to the SPL Project, known as the SPL Expansion Project, with an anticipated production capacity of up to approximately 20 mtpa of LNG, including potential debottlenecking opportunities. By securing feed gas supply through long-term contracts, Cheniere is positioning itself to meet growing demand in Asia's LNG markets and enhance the commercial viability of expansion plans. In February 2024, certain subsidiaries of Cheniere Partners submitted applications to the Federal Energy Regulatory Commission for site approval to construct and operate the SPL Expansion Project. Additionally, these subsidiaries applied to the Department of Energy ('DOE') for authorization to export LNG to both Free Trade Agreement ('FTA') and non-FTA countries, excluding debottlenecking activities. In October 2024, the DOE granted authorization to export LNG to FTA countries. The development of this expansion project requires regulatory approvals and acceptable commercial and financing arrangements before the company makes a positive FID. Therefore, this deal with Canadian Natural Resources will serve as a base to secure a positive FID. Investors interested in the energy sector might look at some better-ranked stocks like Flotek Industries, Inc. FTK and Epsilon Energy Ltd. EPSN. Flotek Industries and Epsilon Energy currently sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Flotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. The Zacks Consensus Estimate for FTK's 2025 earnings indicates 55.88% year-over-year growth. Houston, TX-based Epsilon Energy is an on-shore focused oil and natural gas company that is engaged in the acquisition, development, gathering and production of oil and gas reserves. The Zacks Consensus Estimate for EPSN's 2025 earnings indicates 200% year-over-year growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report Flotek Industries, Inc. (FTK) : Free Stock Analysis Report Epsilon Energy Ltd. (EPSN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
13-05-2025
- Business
- Yahoo
Canadian Natural Q1 Earnings Beat Estimates, Expenses Increase Y/Y
Canadian Natural Resources Limited CNQ reported first-quarter 2025 adjusted earnings per share of 81 cents, which beat the Zacks Consensus Estimate of 73 cents. The bottom line also increased from 51 cents in the year-ago quarter. The outperformance can be attributed to higher realized natural gas prices and higher realized oil and NGL prices. Total revenues of $7.6 billion appreciated from $6.1 billion in the prior-year period. Additionally, the figure beat the Zacks Consensus Estimate of $6.8 billion, fueled by increased product sales. Canadian Natural Resources Limited price-consensus-eps-surprise-chart | Canadian Natural Resources Limited Quote On May 8, CNQ's board of directors approved its quarterly cash dividend of 58.75 Canadian cents per common share. The dividend will be payable on July 3, 2025, to its shareholders of record as of the close of business on June 13. This marks the company's continued commitment to returning value to its shareholders. This commitment is further evidenced by CNQ's impressive track record of growing and sustaining its dividend for 25 years, boasting a remarkable 21% annual growth rate over that period. In the first quarter of 2025, the company returned around C$1.7 billion directly to its shareholders. This included C$1.2 billion in dividends and C$0.5 billion from the repurchase and cancellation of 11.2 million common shares, purchased at a weighted average price of C$43.66 per share. The oil and gas exploration and production company delivered strong financial results in the first quarter of 2025, highlighted by net earnings of approximately C$2.5 billion. Furthermore, CNQ reported robust adjusted net earnings from operations of approximately C$2.4 billion. This strong performance was also reflected in the company's cash flow, with cash flows from operating activities totaling approximately C$4.3 billion and adjusted funds flow reaching approximately C$4.5 billion. On March 10, 2025, CNQ's board of directors approved the renewal of its Normal Course Issuer Bid. This allows the company to repurchase up to 10% of its public float for cancellation between March 13, 2025, and March 12, 2026, subject to approval from the Toronto Stock Exchange. Up to May 7, 2025, the Calgary-based company delivered significant returns to its shareholders, amounting to approximately C$3.1 billion. This total was composed of C$2.4 billion in dividends and C$0.7 billion through the repurchase and cancellation of 15.8 million common shares. Canadian Natural reported quarterly production of 1,582,348 barrels of oil equivalent per day (Boe/D), up 18.7% from the prior-year quarter's level. Moreover, the figure beat our model projection of 1,494,762Boe/D. The oil and natural gas liquid (NGL) output (accounting for around 75% of total volumes) increased to 1,173,804 barrels per day (Bbl/d) from 975,668 Bbl/d recorded a year ago. Moreover, the figure beat our model projection of 1,093,674Bbl/d. Natural gas volumes totaled 2,451 million cubic feet per day (MMcf/d), up 14.2% from 2,147 MMcf/d recorded in the year-ago period. Furthermore, the figure beat our model projection of 2,407 MMcf/d. Natural gas production in North America reached 2,436 MMcf/d in the first quarter of 2025, compared with 2,135 MMcf/d in the first quarter of 2024. Additionally, the figure beat our model projection of 2,395 MMcf/d. Exploration and production activities in North America, not including thermal in situ methods, reported an average output of 276,532 barrels per day. This indicates a 16.4% year-over-year increase during this quarter. Meanwhile, thermal in situ production volume increased to 284,706 Bbl/d from 268,155 Bbl/d recorded a year ago. However, the figure missed our model projection of 296,259 Bbl/d. In the first quarter of 2025, the company achieved record quarterly production in its Oil Sands Mining and Upgrading operations, reaching 595,116 barrels per day (bbl/d) of synthetic crude oil ('SCO'), including planned turnaround activities. This represented a 34% increase in quarterly production, approximately 445,209 bbl/d, compared with the first quarter of 2024. The realized natural gas price increased 22.7% to C$3.13 per thousand cubic feet from the year-ago level of C$2.55. The realized oil and NGL price increased 14% to C$79.85 per barrel from C$70.01 in the first quarter of 2024. The company also achieved industry-leading annual operating costs for Oil Sands Mining and Upgrading, amounting to C$21.88 per barrel in the first quarter of 2025. At the Athabasca Oil Sands Project, the planned turnaround that began on April 4, 2025, is targeted for 73 days. In addition, the Scotford Upgrader will operate at reduced rates during the turnaround period, impacting the company's net annual average production by approximately 31,000 bbl/d, based on its current 90% working interest. On the recently acquired Duvernay assets, Canadian Natural's effective and efficient operations have resulted in both capital and operating cost efficiencies. Additionally, the company is on track to achieve a 2025 budget production of approximately 60,000 Boe/d. Total expenses in the quarter were C$7.8 billion, up from C$6.8 billion recorded in the year-ago period. The increase was due to higher costs in production, transportation, blending and feedstock, depletion, depreciation and amortization, along with increased interest and financing expenses. Capital expenditure totaled C$1.1 billion compared with C$876 million a year ago. As of March 31, 2025, CNQ had cash and cash equivalents worth C$93 million and long-term debt of approximately C$16 billion, with a debt to capitalization of about 28.3%. During the first quarter of 2025, CNQ reduced its 2025 capital budget by $100 million and is now forecasting capital for 2025 at $6.05 billion, excluding abandonments. For 2025, CNQ expects a 12% increase in production, targeting a range of 1,510 MBOE/d to 1,555 MBOE/d. The company anticipates a 14% rise in natural gas production, with a targeted range of 2,425 MMcf/d to 2,480 MMcf/d. It plans to allocate 60% of free cash flow to shareholders, continuing its 25-year track record of increasing dividends. CNQ currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. While we have discussed CNQ's first-quarter results in detail, let us take a look at three other key reports in this space. Cheniere Energy, Inc. LNG reported a first-quarter 2025 adjusted profit of $1.57 per share, which missed the Zacks Consensus Estimate of $2.81. Moreover, the bottom line decreased from the year-ago quarter's level of $2.13 per share. The underperformance can be attributed to an increase in operating costs and expenses. Revenues totaled $5.4 billion, beating the Zacks Consensus Estimate of $4.4 billion and increasing 28% from the year-ago quarter's level of $4.3 billion. The increase in revenues can be attributed to the strength in liquefied natural gas ('LNG') shipments. During the period, Cheniere Energy loaded 608 trillion British thermal units (TBtu) of LNG, ahead of the consensus mark of 586 TBtu. As of March 31, 2025, Cheniere had approximately $2.5 billion of cash and cash equivalents. Its net long-term debt amounted to $22.5 billion, with a debt-to-capitalization of 69.1%. Oil and gas equipment and services provider TechnipFMC plc FTI reported first-quarter 2025 adjusted earnings of 33 cents per share, which missed the Zacks Consensus Estimate of 36 cents, primarily due to a 4.8% year-over-year increase in costs and expenses. However, the bottom line increased from the year-ago quarter's reported profit of 22 cents, driven by improved performance in the Subsea segment. The company's revenues of $2.2 billion missed the Zacks Consensus Estimate by 1.1%. However, the top line increased from the year-ago quarter's reported figure of $2 billion. Houston, TX-based oil and gas equipment and services provider Baker Hughes BKR reported first-quarter 2025 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 47 cents. The bottom line also improved from the year-ago level of 43 cents. As of March 31, 2025, Baker had cash and cash equivalents of $3,277 million. Baker had a long-term debt of $5,969 million at the end of the reported quarter, with a debt-to-capitalization of 25.9%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TechnipFMC plc (FTI) : Free Stock Analysis Report Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
08-05-2025
- Business
- Washington Post
Canadian Natural Resources: Q1 Earnings Snapshot
CALGARY ALBERTA CANADA, Alberta — CALGARY ALBERTA CANADA, Alberta — Canadian Natural Resources Ltd. (CNQ) on Thursday reported first-quarter net income of $1.71 billion. On a per-share basis, the Calgary Alberta Canada, Alberta-based company said it had profit of 81 cents. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
Yahoo
08-05-2025
- Business
- Yahoo
Canadian Natural Resources: Buy, Sell, or Hold in 2025?
Written by Andrew Walker at The Motley Fool Canada Canadian Natural Resources (TSX:CNQ) is down more than 20% over the past year. Investors who missed the big post-pandemic rally are wondering if the pullback is a good opportunity to buy CNQ stock for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio. The price of West Texas Intermediate (WTI) oil is US$60 per barrel at the time of writing compared to around US$80 a year ago. Brief rallies occurred in June and January, but the trend has otherwise been to the downside in the oil market for the past 12 months. The 2024 decline can be blamed on weak demand from China due to the country's struggling economy. China is by far the largest oil buyer in the world, well ahead of the United States, which is a distant second place. Oil prices also faced headwinds in the past year due to rising production in non-OPEC countries, including the U.S. and Canada. In 2025, the story centres around concerns about the economic impacts of a potential global trade war. If tariffs trigger a recession in the United States and cause more economic pain in China, oil prices could continue to slide. The U.S. wants lower oil prices to remain in place to push down gasoline costs as inflation risks build due to the tariffs. In the near term, the market will have a tough time finding a catalyst to drive oil prices materially higher. Energy analysts widely expect the oil market to be in a surplus situation this year and into 2026. CNRL trades near $40 per share right now. It was as high as $53 in the past 12 months and recently slipped as low as $35 before clawing back some of the losses. Investors who have followed the stock for some time know that CNRL rebounded from as low as $10 in 2020 at the bottom of the pandemic rout, so it can deliver big gains when market conditions improve. CNRL has a broad portfolio of assets in the energy segment. The company operates oil sands, conventional heavy oil, conventional light oil, and offshore oil production. CNRL is also a major Canadian natural gas producer. The company is adept at quickly moving capital around the portfolio to take advantage of the best opportunities in the market. CNRL also enjoys a strong balance sheet that enables management to make large acquisitions to drive revenue and resource growth. CNRL raised the dividend in each of the past 25 years. This is a great track record for a business that relies on commodity prices to drive its revenue and earnings. The board increased the distribution twice in 2024 and has already raised the payout in 2025 despite weak oil prices. Investors who buy CNQ stock at the current level can get a dividend yield of 5.8%. Near-term volatility should be expected and more downside is certainly possible for the stock. That being said, income investors might want to start nibbling at this level for the attractive yield and look to add on further weakness. At some point, the oil market will rebound. The post Canadian Natural Resources: Buy, Sell, or Hold in 2025? appeared first on The Motley Fool Canada. Before you buy stock in Canadian Natural Resources, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Canadian Natural Resources wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned. 2025 Sign in to access your portfolio
Reuters
08-05-2025
- Business
- Reuters
Canadian Natural Resources beats quarterly profit estimates on higher production
May 8 (Reuters) - Canadian Natural Resources ( opens new tab beat analysts' estimates for first-quarter profit on Thursday as it benefited from higher oil and natural gas production. Oil producers in Canada are benefiting from the start up of the Trans Mountain pipeline expansion project, which has nearly tripled the flow of oil to the country's Pacific Coast from landlocked Alberta, raised the price of Canadian crude and opened up market access to refineries in Asia and the U.S. West Coast. Canadian Natural Resources, the country's largest oil and gas producer, said its total output rose to 1.58 million barrels of oil equivalent per day (mboepd) during the first quarter from 1.33 mboepd. The company produced 1.17 million barrels per day (bpd) of liquids and 2.45 billion cubic feet (bcf) per day of natural gas during the quarter. On an adjusted basis, the company earned C$1.16 ($0.8366) per share in the quarter, compared with analysts' average expectation of C$1.05, according to data compiled by LSEG. ($1 = 1.3865 Canadian dollars)
