Canadian Natural Resources
About: Canadian Natural Resources Ltd is an independent crude oil and natural gas exploration, development, and production company. The company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea; and Cote d'Ivoire in Offshore Africa. Its operating segments include North America, North Sea, Offshore Africa, Oil Sands Mining and Upgrading, and Midstream and Refining. Maximum revenue is generated from its Oil Sands Mining and Upgrading segment, which produces synthetic crude oil through bitumen mining and upgrading operations at Horizon Oil Sands (Horizon) and the company's direct and indirect interest in the Athabasca Oil Sands Project.
Employees: 10,640
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
32% more repeat investments, than reductions
Existing positions increased: 259 | Existing positions reduced: 196
11% more first-time investments, than exits
New positions opened: 61 | Existing positions closed: 55
2% less capital invested
Capital invested by funds: $47.4B [Q1] → $46.6B (-$772M) [Q2]
1% less funds holding
Funds holding: 615 [Q1] → 606 (-9) [Q2]
2.4% less ownership
Funds ownership: 73.18% [Q1] → 70.78% (-2.4%) [Q2]
22% less call options, than puts
Call options by funds: $515M | Put options by funds: $660M
30% less funds holding in top 10
Funds holding in top 10: 30 [Q1] → 21 (-9) [Q2]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
RBC Capital Greg Pardy | 104%upside $62 | Outperform Maintained | 8 Aug 2025 |
Financial journalist opinion
Based on 18 articles about CNQ published over the past 30 days
