Canadian Natural Resources Limited (CNQ) Stock Rises on Q1 2026 Earnings

Canadian Natural Resources Limited (CNQ) reported Q1 2026 results with revenue of $7.8 billion, up 2.3% year‑over‑year. Gross profit fell to $3.9 billion (down 34.2% YoY) and operating profit declined to $1.9 billion (down 57.0% YoY). Net income attributable to common shareholders was $970 million, a drop of 43.2% year‑over‑year, and diluted earnings per share came in at $0.46 (down 60.7% YoY).

Revenue: $7.8 billion (+2.3% YoY)

Gross profit: $3.9 billion (−34.2% YoY)

Operating profit: $1.9 billion (−57.0% YoY)

Net income to common shareholders: $970 million (−43.2% YoY)

Diluted EPS: $0.46 (−60.7% YoY)

On the cash and balance sheet side, cash from operating activities was $2.36 billion, down 20.7% year‑over‑year, while capital spending on property, plant and equipment rose to $1.50 billion (up 67.0%). Cash and cash equivalents increased to $581 million, a large jump of 799.3% YoY. Cost of sales came in at $3.9 billion (up 134.2%), and total liabilities stood at $35.5 billion (up 15.3%).

Cash from operations: $2.36 billion (−20.7% YoY)

Capital expenditures: $1.50 billion (+67.0% YoY)

Cash and equivalents: $581 million (+799.3% YoY)

Cost of sales: $3.9 billion (+134.2% YoY)

Total liabilities: $35.5 billion (+15.3% YoY)

Shares of Canadian Natural Resources Limited (CNQ) were up 1.27% since market open this morning.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Canadian Natural Resources Limited Hedge Fund Activity

We have seen 335 institutional investors add shares of Canadian Natural Resources Limited stock to their portfolio, and 315 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL RESEARCH GLOBAL INVESTORS added 35,067,143 shares (+31.5%) to their portfolio in Q4 2025, for an estimated $1,187,022,790
CIBC WORLD MARKET INC. added 21,338,041 shares (+93.6%) to their portfolio in Q4 2025, for an estimated $722,292,687
ROYAL BANK OF CANADA removed 20,900,327 shares (-15.6%) from their portfolio in Q4 2025, for an estimated $707,476,068
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 17,000,625 shares (-41.1%) from their portfolio in Q4 2025, for an estimated $575,471,156
FMR LLC added 14,309,894 shares (+18.6%) to their portfolio in Q4 2025, for an estimated $484,389,911
TORONTO DOMINION BANK removed 13,098,071 shares (-41.4%) from their portfolio in Q4 2025, for an estimated $443,369,703
BANK OF MONTREAL /CAN/ removed 10,777,918 shares (-13.4%) from their portfolio in Q4 2025, for an estimated $364,832,524

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

Canadian Natural Resources Limited Price Targets

Multiple analysts have issued price targets for $CNQ recently. We have seen 5 analysts offer price targets for $CNQ in the last 6 months, with a median target of $64.0.

Here are some recent targets:

Sam Margolin from Wells Fargo set a target price of $61.0 on 04/09/2026
Kevin Fisk from Scotiabank set a target price of $70.0 on 03/19/2026
Neil Mehta from Goldman Sachs set a target price of $49.0 on 03/12/2026
Menno Hulshof from TD Cowen set a target price of $64.0 on 03/06/2026
Greg Pardy from RBC Capital set a target price of $65.0 on 03/06/2026