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    CNQ   CA1363851017

CANADIAN NATURAL RESOURCES LIMITED

(CNQ)
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Canadian Natural Resources boosts capex budget to $4.3 billion for 2022

01/11/2022 | 09:00am EDT

CALGARYCanadian Natural Resources Ltd. says it expects about $4.3 billion in capital spending this year, up from nearly $3.5 billion in 2021.

The company says its plan includes $3.6 billion in base capital spending and $700 million in strategic growth spending.

Production for 2022 is expected to be between 1,270,000 and 1,320,000 barrels of oil equivalent per day.

Production in 2021 was estimated at 1,235,000 boepd.

Canadian Natural president Tim McKay said production this year is targeted to consist of about 46 per cent light and synthetic crude oil, 28 per cent heavy crude oil and 26 per cent natural gas, at the midpoint of the production range.

Canadian Natural has operations in Western Canada, the North Sea and offshore Africa.

This report by The Canadian Press was first published Jan. 11, 2022.

Companies in this story: (TSX:CNQ)

© 2022 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Analyst Recommendations on CANADIAN NATURAL RESOURCES LIMITED
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Financials
Sales 2022 40 820 M 31 788 M 31 788 M
Net income 2022 13 025 M 10 143 M 10 143 M
Net Debt 2022 9 396 M 7 317 M 7 317 M
P/E ratio 2022 7,12x
Yield 2022 3,62%
Capitalization 93 247 M 72 615 M 72 615 M
EV / Sales 2022 2,51x
EV / Sales 2023 2,69x
Nbr of Employees 9 735
Free-Float 98,5%
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Canadian Natural Resources Limited Technical Analysis Chart | CNQ | CA1363851017 | MarketScreener
Technical analysis trends CANADIAN NATURAL RESOURCES LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 80,78 CAD
Average target price 91,62 CAD
Spread / Average Target 13,4%
EPS Revisions
Managers and Directors
Tim Shawn McKay President, Chief Operating Officer & Director
Mark A. Stainthorpe Chief Financial Officer & Senior VP-Finance
Norman Murray Edwards Executive Chairman
Stephen C. Suche Vice President-Information & Corporate Services
David Arnold Tuer Independent Director
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