# Canadian Natural Resources Limited (CNQ)

> Source: Nexqual · https://nexqual.com/CNQ · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Canadian Natural Resources Limited (CNQ), nexqual.com/CNQ" · informational, not investment advice.

**Price:** USD 53.92 (-0.59% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 54.24 · day 53.09–55.28 · 52w 30.13–55.28 · market cap $111B · NYQ

## Key facts
- 3 of 80 tracked superinvestors hold CNQ (13F, Q2 2026): 1 new, 1 added, 1 reduced, 0 unchanged.
- Analysts: Hold (mean 2.61 on a 1–5 scale) (23 analysts), mean target USD 49.24 (range 44.27–58.79).
- Total return with dividends: 1Y +77.6% vs S&P 500 +14.9%; 5Y +221.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.51, revenue estimate $12.1B.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold CNQ. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Yacktman Asset Management |  | 8.04% | $650M | Reduced -0.5% |
| Lee Ainslie | Maverick Capital | 0.02% | $1.9M | Added +1.7% |
| Sarah Ketterer | Causeway Capital Management | 0.01% | $728K | New position |

## Analysts
Consensus Hold (mean 2.61 on a 1–5 scale), 23 analysts; mean target USD 49.24 (low 44.27, high 58.79).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +77.6% | +221.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +78.0% | +26.3% |
| Volatility (annualized) | 30.9% | 33.7% |
| Max drawdown | -21.5% (Mar 2026→Jul 2026) | -29.7% (Apr 2024→Apr 2025) |

## Peers (Oil & Gas E&P)
EOG (EOG Resources, Inc.) USD 157.96 +0.05% · COP (ConocoPhillips) USD 145.63 -0.03% · OXY (Occidental Petroleum Corporatio) USD 62.5 -0.32% · FANG (Diamondback Energy, Inc.) USD 197.14 -1.89% · DVN (Devon Energy Corporation) USD 49.18 -1.38% · EQT (EQT Corporation) USD 54.67 +1.11%

## More
Full page: https://nexqual.com/CNQ · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CNQ's own 40-F filed 2026-03-26 (https://www.sec.gov/Archives/edgar/data/1017413/000101741326000018/cnq-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | ENBRIDGE INC (ENB) | "Natural gas is distributed to customers in Canada via the TC Canadian Mainline and other pipelines such as the Enbridge Westcoast system." |

Other companies that name CNQ in their own reports (relationship from CNQ's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Shell plc (SHEL) | 20-F 2026-03-12 | "In November 2025, we completed the previously announced agreement with Canadian Natural Resources Limited to swap our remaining 10% interest in the Albian mining and extraction operations in exchange …" |
| partner | Cheniere Energy, Inc. (LNG) | 10-K 2026-02-26 | "•In May 2025, Cheniere Marketing entered into an IPM agreement with Canadian Natural Resources Limited to purchase 140,000 MMBtu per day of natural gas at a price based on the Japan Korea Marker, less…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.51 | $1.43 | +6.1% | $12.14B | 10 |
| Next quarter (ends 2026-12-31) | $1.87 | $1.36 | +37.2% | $12.82B | 9 |
| Current fiscal year (ends 2026-12-31) | $6.55 | $5.86 | +11.9% | $49.18B | 12 |
| Next fiscal year (ends 2027-12-31) | $6.23 | $5.13 | +21.5% | $44.12B | 12 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-05): ±5.4%; earnings reaction alone ±0.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 34.4% | ±4.1% |
| 2026-11-06 | 14 | 33.2% | ±5.4% |
| 2026-11-13 | 21 | 34.7% | ±6.8% |
| 2026-11-20 | 28 | 33.1% | ±7.5% |
| 2026-11-27 | 35 | 31.4% | ±7.9% |
| 2026-12-04 | 42 | 34.1% | ±9.4% |
| 2026-12-18 | 56 | 33.0% | ±10.8% |
| 2027-01-15 | 84 | 33.1% | ±12.9% |