| Canadian Natural Cuts Q2 Production View, '15 Outlook Stays - Analyst Blog | |
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Independent exploration and production company Canadian Natural Resources Ltd. CNQ announced its decision to cut second-quarter 2015 production guidance in a recent conference call. This is because the company is apprehensive of production being affected by the wildfires in Alberta that resulted in refinery shut-downs.
The company expects second-quarter production to be lowered by approximately 7,500 barrels per day (bbl/d). This is primarily owing to the temporary shutdown of its Primrose operations and Kirby South oil sales pipeline. However, the company’s annual production guidance remains unchanged at 126,000¬–140,000 bbl/d.
The company also added that its 125,000 bbl/d Horizon oil sands project resumed operations after completion of planned turnaround activities that was extended by five days. Canadian Natural expects production from this division to remain toward the lower end of its second-quarter guidance. However, the company expects strong growth ahead with the annual guidance remaining same at 21,000–131,000 bbl/d.
The Calgary, Alberta-based company has a broad portfolio of low-risk exploration and development projects that yield long-term volume growth at above-average rates. The company’s financial strength is indicated by its consistent dividend payments and share repurchase programs. Canadian Natural is the only Canadian upstream firm to raise its dividend for 15 consecutive years.
However, Canadian Natural being an upstream energy firm has been exposed to the persistent weakness in crude prices, which has put pressure on its cash flow, revenues and earnings. Also, the company has been able to extract less value for its products and hence, made lower profits.
Canadian Natural currently carries a Zacks Rank #3 (Hold).
Better-ranked players from the broader energy sector include EQT Midstream Partners, LP EQM, CNOOC Ltd. CEO and Holly Energy Partners L.P HEP. All these stocks sport a Zacks Rank #1 (Strong Buy).
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Canadian Natural Resources Ltd
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PRODUCTEUR |
CODE : CNQ.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Canadian Natural est une société de production minière basée au Canada. Canadian Natural est productrice de pétrole au Canada, et détient divers projets d'exploration au Canada. Son principal projet en production est HORIZON PROJECT au Canada. Canadian Natural est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 117,3 milliards CA$ (85,6 milliards US$, 80,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 20 mars 2020 à 10,50 CA$, et son plus haut niveau récent le 24 avril 2024 à 105,43 CA$. Canadian Natural possède 1 112 579 968 actions en circulation. |