Canadian Natural Resources Ltd continues its impressive earnings streak, surpassing expectations once again.
In its latest earnings report for the second quarter of 2026, Canadian Natural Resources Ltd (CNQ) announced earnings per share (EPS) of $2.19, beating the consensus estimate of $2.01 by 9.0%. This marks the fourth consecutive quarter that the company has exceeded expectations, showcasing its strong operational performance in a challenging market environment.
Recent earnings trend
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Canadian Natural Resources Ltd
CNQ.TO
CNQ.TO
Canadian Natural Resources Ltd
WealthAwesomeMarket cap
$133.13B
P/E
12.0x
Div. yield
3.80%
Div. / share
$2.39
52W high
$70.24
52W low
$38.80
1W change
-3.61%
Beta
0.88
Analyst Price Targets
Based on analyst covering CNQ
Wall Street analysts forecast CNQ stock price to rise 10.0% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$70.24
+10.0% Upside
Current Price
C$63.83
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on CNQ's historical volatility
30-Day Vol
33.9%
Annualized
90-Day Vol
36.5%
Annualized
Trend (90d)
+13.8%
Annualized drift
90d Mean
C$67.07
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$64.89 | C$57.72 – C$72.95 |
| 60 trading days | C$65.97 | C$55.91 – C$77.84 |
| 90 trading days | C$67.07 | C$54.76 – C$82.13 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 8 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-06 | 2.1900 | 2.0100 | +9.0% |
| 2026-03-31 | 2026-05-07 | 1.1700 | 1.0600 | +10.4% |
| 2025-12-31 | 2026-03-05 | 0.8200 | 0.7000 | +17.1% |
| 2025-09-30 | 2025-11-06 | 0.8600 | 0.8100 | +6.2% |
| 2025-06-30 | 2025-08-07 | 0.7100 | 0.6900 | +2.9% |
| 2025-03-31 | 2025-05-08 | 1.1600 | 1.0800 | +7.4% |
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Investor takeaway: With a solid earnings report and a history of beating estimates, Canadian Natural Resources remains a strong player in the energy sector, particularly for investors seeking reliable income through dividends and growth potential.
EPS of $2.19 Surpasses Estimates by 9.0%
Canadian Natural Resources' EPS growth of 118.4% year-over-year reflects its strong operational performance amid rising commodity prices.
Bull case
The company's record production levels and impressive financial results position it well for continued growth. Its focus on returning value to shareholders, including regular dividend increases, makes it an attractive option in today’s market.
Bear case
Despite the strong earnings, there are uncertainties surrounding future growth projects and fluctuating oil prices that investors should keep an eye on, especially as the company navigates regulatory challenges.
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