Canadian Natural Resources is the largest producer of oil and the second-largest producer of natural gas in Canada. It is principally involved in extracting heavy oils, natural gas, and bitumen through its drilling and mining operations. Bitumen from mining operations is upgraded into synthetic crude oil. Commodities produced are primarily exported to the US via pipeline. The company also has smaller offshore production operations in the North Sea and Africa.
The chart shows the growth of an initial investment of $10,000 in Canadian Natural Resources Limited, comparing it to the performance of the S&P 500 index. All prices have been adjusted for splits and dividends.
Returns By Period
Canadian Natural Resources Limited (CNQ) has returned 41.06% so far this year and 78.01% over the past 12 months. Looking at the last ten years, CNQ has achieved an annualized return of 13.98%, outperforming the Benchmark (SPY), which averaged 12.23% per year.
CNQ
1M4.92%
6M48.11%
YTD41.06%
1Y78.01%
5Y25.00%
10Y13.98%
Benchmark (SPY)
1M-3.85%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of Canadian Natural Resources Limited (CNQ) with color gradation from worst to best to easily spot seasonal factors.
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
10.43%
21.21%
7.51%
-0.40%
2025
-2.44%
-3.97%
8.72%
-6.94%
6.75%
1.39%
0.70%
0.03%
1.40%
0.47%
5.80%
-0.29%
2024
-2.17%
8.57%
8.80%
-1.48%
1.43%
-7.54%
-1.39%
2.03%
-5.97%
3.06%
-1.69%
-9.21%
2023
11.85%
-7.13%
-2.43%
5.47%
-10.35%
4.20%
7.31%
7.73%
-1.03%
-1.79%
4.77%
-2.18%
2022
20.32%
10.82%
9.22%
0.06%
9.06%
-20.18%
2.01%
0.98%
-13.34%
23.21%
-2.23%
-7.93%
2021
-7.15%
19.27%
10.80%
-2.13%
13.77%
2.05%
-10.88%
0.30%
10.56%
16.18%
-4.89%
1.32%
2020
-12.26%
-8.38%
-48.50%
34.51%
10.03%
-3.60%
1.49%
10.57%
-18.65%
0.63%
40.73%
2.21%
2019
16.33%
5.30%
-3.47%
7.84%
-9.82%
-1.21%
-7.26%
-3.71%
13.46%
-5.29%
10.20%
14.84%
2018
-3.12%
-7.96%
-0.94%
15.42%
-3.41%
4.07%
2.81%
-6.20%
-4.64%
-16.83%
-9.82%
-13.51%
2017
-5.97%
-5.53%
13.11%
-2.39%
-9.27%
-0.17%
5.77%
0.82%
8.10%
6.01%
-3.20%
3.24%
2016
14.45%
-0.87%
5.84%
-1.95%
3.74%
3.86%
-1.03%
5.47%
-7.46%
Performance Indicators
The charts below present risk-adjusted performance metrics for Canadian Natural Resources Limited (CNQ) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of CNQ compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current Canadian Natural Resources Limited volatility is 2.05%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses. Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Following Middle East hostilities, a significant oil price divergence has emerged between Western benchmarks and Middle Eastern markets, with Oman crude hitting record $173/barrel. While the U.S. is better insulated due to strong domestic production and strategic reserves, Europe faces severe risks with natural gas storage at five-year lows. The article identifies U.S. energy stocks and gold as primary investment opportunities, with energy producers benefiting from higher oil prices and gold positioned to benefit from fiscal pressures and stagflation risks.
Investing.com•Frank Holmes
AI Insight
Identified by Goldman Sachs as a top oil producer with favorable risk-reward profiles; benefits from elevated oil prices and domestic production strength
The author discusses his investment in three oil stocks (Chevron, ConocoPhillips, and Canadian Natural Resources) that can benefit from both rising and falling oil prices. Despite recent volatility caused by Iran-U.S. military tensions, he remains confident these companies have low breakeven costs, strong dividend growth histories, and can generate substantial cash flow even at $70/barrel oil prices.
The Motley Fool•Matt Dilallo
AI Insight
Extended dividend streak to 26 consecutive years, low oil breakeven levels in the $40s, can thrive at lower oil prices, and provides portfolio upside during higher crude price environments
U.S. stock markets declined on March 19, 2026, as Brent crude oil spiked above $119/barrel, intensifying inflation concerns and Middle East conflict fears. Energy stocks gained while tech and industrial sectors weakened. Gold prices fell sharply, dragging down mining stocks. JPMorgan Chase cut its S&P 500 year-end target, warning that elevated oil prices could slow global growth.
The Motley Fool•Emma Newbery
AI Insight
Stock rallied 3.01% and has surged 60% in six months, benefiting from sustained high oil prices
Canadian Natural Resources (CNQ) has delivered exceptional dividend growth of 9,300% since 2001, with an average annual increase of 21%. The oil and gas company generates $14.8 billion in operating cash flow, easily covering its $3.6 billion dividend while maintaining profitability even at oil prices above $21 per barrel. Despite potential energy market headwinds, the company's 4.33% dividend yield significantly outpaces the S&P 500 average.
The Motley Fool•William Dahl
AI Insight
The company demonstrates exceptional dividend growth history (9,300% since 2001), strong cash flow generation ($14.8B operating cash flow), sustainable dividend coverage, and attractive yield (4.33%) relative to market averages. The company maintains profitability at low oil price thresholds ($21/barrel), providing downside protection even in adverse market conditions.
The article identifies three dividend-paying investments positioned to benefit from expected economic growth in 2026: STAG Industrial, a real estate investment trust benefiting from manufacturing automation trends; RYLD, a covered-call ETF yielding 11.7% with exposure to small-cap US growth; and Canadian Natural Resources, a heavy crude oil producer positioned to benefit from Canadian infrastructure investment and lower valuations compared to US oil majors.
Investing.com•Brett Owens
AI Insight
Trading at attractive 13.8x earnings (cheaper than US oil majors), yields 5.4% with reasonable 59% payout ratio. Record Q3 production of 1.6 million barrels per day and low operating costs of $21/barrel position it for dividend growth as Canadian government shifts toward infrastructure and oil investment.
The article recommends three high-yielding dividend stocks for income investors: Pfizer (6.8% yield), Realty Income (5.6% yield), and Canadian Natural Resources (5.5% yield). Investing $12,000 in each stock could generate approximately $2,100 in annual dividends. All three are presented as safe, dependable investments with strong fundamentals despite different industry challenges.
The Motley Fool•David Jagielski, Cpa
AI Insight
Strong performer with 170% share price appreciation over five years while maintaining a reasonable 15x P/E multiple. The company offers a 5.5% dividend yield with a sustainable 70% payout ratio, robust business model, and increased production guidance for 2025, making it a reliable income investment.
The article highlights four Canadian oil companies positioned to benefit from low heavy crude inventories and increasing diesel fuel demand, focusing on companies with strong heavy crude reserves and strategic market positioning.
Investing.com•Chris Markoch
AI Insight
Large land base, dividend growth for 24 consecutive years, analysts predict 83% potential price gain
Canadian Natural Resources has demonstrated exceptional dividend growth, increasing payouts by 9,300% since 2001 with a 21% annual growth rate. The company leverages AI technology, vertical integration, and strategic share buybacks to maintain strong financial performance in the oil and gas sector.
The Motley Fool•William Dahl
AI Insight
Strong dividend growth, record quarterly production, industry-leading operating costs, strategic use of AI technology, and potential for future acquisitions during potential market downturn
Altai Resources sold its 50% working interest in 4 oil wells located in Cessford, Alberta to Canadian Natural Resources Limited for a net liability settlement of $50,674, representing a gain of $111,728 over its decommissioning liability.
GlobeNewswire Inc.•Kursat Kacira
AI Insight
Acquired the remaining 50% working interest through a standard asset transaction
Purpose Investments Inc. announced monthly distributions for its Canadian Yield Shares ETFs, with distributions ranging from $0.055 to $0.18 per unit, effective September 25, 2025.
Benzinga•Globe Newswire
AI Insight
Higher distribution of $0.14 per unit suggests good financial standing
