Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Natural Resources Limited    CNQ   CA1363851017

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Canadian Natural Resources Limited : Canadian Natural profit falls on foreign exchange loss

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/07/2013 | 01:19pm CET

Canadian Natural Resources Ltd, Canada's No.1 independent oil producer, reported a 58 percent fall in fourth-quarter profit after booking a foreign exchange-related loss but the company raised its quarterly dividend.

The company raised its quarterly dividend for 2013 by 19 percent to 12.5 Canadian cents per share.

Net income fell to C$352 million ($341 million), or 32 Canadian cents per share, from C$832 million, or 76 Canadian cents per share, a year earlier.

The company booked an unrealized foreign exchange loss of C$254 million, mainly related to its U.S. dollar-denominated debt. The company had a gain of C$117 million on foreign exchange in the year earlier quarter.

Revenue fell 12 percent to C$3.70 billion.

On an adjusted basis, earnings were C$359 million, or 33 Canadian cents per share. Analysts on average had expected earnings of 39 Canadian cents per share on revenue of C$3.59 billion, according to Thomson Reuters I/B/E/S.

Crude oil and natural gas liquids (NGLs) output rose 6 percent to 469,964 barrels per day (bbl/d) in the fourth quarter on increased drilling and a 19 percent rise in thermal production.

Total production of oil and gas was flat at 658,973 barrels of oil equivalent per day (boepd).

Natural gas production dropped 11 percent to 1,134 million cubic feet per day (MMcf/d) as the company focused on high-return crude oil drilling.

Canadian Natural's cash flow, a key measure of its ability to pay for new projects and drilling, fell 28 percent to C$1.55 billion.

The Calgary-based company, which has been cutting natural gas production and focusing on high-return crude oil drilling, raised its first-quarter forecast for crude oil and NGLs output to between 471,000 and 495,000 bbl/d on an average.

It produced 395,461 bbl/d of crude oil and NGLs in the first quarter last year.

The company said it expected first-quarter natural gas output to average between 1,130 MMCf/d and 1,150 MMcf/d before royalties, down from its first-quarter output of 1,302 MMCf/d, last year.

The company named Corey Bieber, currently a vice president, as Chief Financial Officer in place of Douglas Proll. Proll will now become an executive vice president.

Canadian Natural shares closed at C$31.16 on the Toronto Stock Exchange on Wednesday.

($1 = 1.0309 Canadian dollars)

(Reporting by Maneesha Tiwari in Bangalore; Editing by Sriraj Kalluvila)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CANADIAN NATURAL RESOURCES
12/03 Grades narrow slightly on second day of new trade cycle
11/26 CANADIAN NATURAL RESOURCES LIMITED : Gap Down Today Means Higher Risks Forward
11/26 CANADIAN NATURAL RESOURCES : Technical Buzz on Canadian Natural Resources Limite..
11/23 BASIC MATERIALS STOCKS IN MOMENTUM : Canadian Natural Resources Limited, Murphy ..
11/20 CANADIAN NATURAL RESOURCES : Concerns raised about possible ongoing problems at ..
11/03 TRANSCANADA GAS TOLL TALKS MAKING PR : CNRL, Encana
11/03 CANADIAN NATURAL RESOURCES : Q3 loss increases, volumes fall during scheduled do..
11/03 CANADIAN NATURAL RESOURCES : posts 3Q loss
11/03 CANADIAN NATURAL RESOURCES LIMITED : Announces Quarterly Dividend
11/03 CANADIAN NATURAL RESOURCES LIMITED : Announces 2016 Third Quarter Results
More news
Sector news : Oil & Gas Exploration and Production - NEC
12/05DJBHP Billiton, Cnooc, Total, Others Take Blocks in Mexico Offshore Auction--2n..
12/05 CHESAPEAKE ENERGY : to sell Haynesville asset for $450 million to Indigo Mineral..
12/05DJBHP Billiton Wins Trion Oil Field Bid
12/03 Grades narrow slightly on second day of new trade cycle
12/02DJUnited Continental to Pay $2.4 Million SEC Fine In Relation to S.C. Flight
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
12/05 28 Stocks For December 2016
11/14 Canadian Natural Planning For $60 Oil
11/04 TransCanada gas toll talks making progress with Canadian Natural, Encana
11/03 Canadian Natural Resources (CNQ) Q3 2016 Results - Earnings Call Transcript
11/03 Canadian Natural Resources declares C$0.25 dividend
Advertisement
Financials ( CAD)
Sales 2016 10 310 M
EBIT 2016 -1 200 M
Net income 2016 -822 M
Debt 2016 16 880 M
Yield 2016 1,92%
P/E ratio 2016 -
P/E ratio 2017 45,15
EV / Sales 2016 6,48x
EV / Sales 2017 4,59x
Capitalization 49 976 M
More Financials
Chart CANADIAN NATURAL RESOURCES
Duration : Period :
Canadian Natural Resources Technical Analysis Chart | CNQ | CA1363851017 | 4-Traders
Full-screen chart
Technical analysis trends CANADIAN NATURAL ...
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 47,6  CAD
Spread / Average Target 5,3%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Steve W. Laut President & Non-Independent Director
N. Murray Edwards Executive Chairman
Tim S. McKay Chief Operating Officer
Corey B. Bieber Chief Financial Officer & Senior Vice President
Stephen C. Suche Vice President-Information & Corporate Services
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN NATURAL RESOU..53.22%37 607
CONOCOPHILLIPS3.06%60 564
EOG RESOURCES INC47.56%60 217
CNOOC LTD23.96%58 453
OCCIDENTAL PETROLEUM C..4.98%54 242
ANADARKO PETROLEUM COR..40.57%38 167
More Results