RBC Raises Price Target on Canadian Natural Resources to CA$88
RBC Capital Markets has increased its price target for Canadian Natural Resources Limited from CA$86 to CA$88 while maintaining an 'Outperform' rating.
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Canadian Natural Resources Limited Declares Quarterly Dividend
Canadian Natural Resources Limited has declared a quarterly cash dividend of C$0.625 per common share, payable in January 2027.
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Canadian Natural Resources Limited Announces 2026 Third Quarter Results
Canadian Natural Resources Limited reported its 2026 third-quarter financial results, highlighting adjusted net earnings of $3.4 billion and the achievement of its $13 billion net debt target.
Canadian Natural Resources and Industry Peers Target Late 2027 for Pathways Carbon Capture Decision
Canadian Natural Resources and other major oil producers are targeting late 2027 for a final investment decision on the Pathways carbon capture and storage project.
Shares of oil and gas-related companies are trading higher after reports suggesting that Iran placed its armed forced on high alert for 72 hours. Also, reports of an attempted Houthi strike on Saudi Arabia's Red Sea port of Yanbu and another Iranian strike on a vessel near the Strait of Hormuz may fuel concerns that high energy prices may persist and benefit the sector.
Shares of oil and gas-related companies are trading higher amid multiple catalysts including renewed Iranian focus on striking vessels in the Strait of Hormuz, Tehran's hardline stance on nuclear enrichment limits, and Houthi rebel strikes on Saudi Arabia. Also, elevated refined product prices, refining margins, and tanker day rates are benefiting the wider sector.
TRIO PETROLEUM ANNOUNCES LLOYDMINSTER ACQUISITION WITH CUMMINGS MULTILATERAL OIL WELL AND WORKOVER PRODUCTION GROWTH OPPORTUNITY
Trio Petroleum Corp acquired 24 oil wells (4 producing, 20 shut-in) from Marlin Resources Ltd in Saskatchewan's Lloydminster region for CDN$800,000 cash plus an underutilized water disposal asset. The acquisition includes 37 BOPD of current production, a planned Cummings multilateral well with CDN$1.2 million development budget, and a CDN$425,000 workover program. The company expects the purchase price per flowing barrel to be discounted compared to market rates for comparable assets.