Calgary, Alberta-based Canadian Natural Resources Ltd. (TO:CNQ) is engaged in the acquisition, development and exploitation of crude oil and natural gas properties. It is one of the largest independent exploration and production (E&P) companies in Canada, with extensive heavy crude oil and natural gas developments.
Currently, Canadian Natural has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Canadian Natural Resources reported adjusted loss of 36 U.S cents per share, much wider than the Zacks Consensus Estimate of loss of 27 U.S cents.
Revenue: The company reported quarterly revenues of C$2,178 million, substantially lower than the year-ago figure of C$3,034 million.
Key Stats: Canadian Natural reported quarterly production of 844,531 barrels of oil equivalent per day (BOE/d), almost 6% lower than the prior-year quarter level.
Natural gas production increased to 1,786 million cubic feet per day (MMcf/d) from 1,771 MMcf/d in the first quarter of 2015. Oil and natural gas liquids (NGLs) production came at 546,927 barrels per day (Bbl/d), below the prior year quarter figure of 602,809 Bbl/d.
Check back later for our full write up on this Canadian Natural earnings report later!
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CDN NTRL RSRCS (CNQ): Free Stock Analysis Report
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