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 newsTweets

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 | 07:19am EST

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
11/21 CANADIAN NATURAL RESOURCES LIMITED : Research Initiated on Energy Stocks, Canadi..
11/13 CANADIAN NATURAL RESOURCES : Shell sells out of Woodside Petroleum for $2.7 bill..
11/10 CANADIAN NATURAL RESOURCES : proposes bitumen-only expansion at its Horizon oils..
11/09 TRANSCANADA : Keystone XL pipe has adequate commercial support - TransCanada
11/09 CANADIAN NATURAL RESOURCES LIMITED : Announces 2018 Budget
11/07 CANADIAN NATURAL RESOURCES LIMITED : Announces Quarterly Dividend
11/07 CANADIAN NATURAL RESOURCES LIMITED : Announces 2017 Third Quarter Results
11/07 CANADIAN NATURAL RESOURCES : cuts 2018 spending to $4.3 billion but output to ri..
11/07 CANADIAN NATURAL RESOURCES : sees 17 percent rise in 2018 production
11/07 CANADIAN NATURAL RESOURCES LIMITED : Announces 2018 Budget
More news
News from SeekingAlpha
11/14 Top 3G Capital portfolio adds and drops
11/07 Canadian Natural hikes 2018 production view by 17% while cutting capex
11/05 Canadian Natural Resources' (CNQ) Management on Q3 2017 Results - Earnings Ca..
11/02 Canadian Natural commits to shipping more crude on Keystone XL
11/02 Canadian Natural Resources declares CAD 0.275 dividend
Financials ( CAD)
Sales 2017 15 837 M
EBIT 2017 1 916 M
Net income 2017 2 012 M
Debt 2017 22 150 M
Yield 2017 2,37%
P/E ratio 2017 25,71
P/E ratio 2018 37,25
EV / Sales 2017 4,76x
EV / Sales 2018 3,92x
Capitalization 53 311 M
Chart CANADIAN NATURAL RESOURCES
Duration : Period :
Canadian Natural Resources Technical Analysis Chart | CNQ | CA1363851017 | 4-Traders
Technical analysis trends CANADIAN NATURAL RESOURCES
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 50,4  CAD
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Steve W. Laut President & Non-Independent Director
N. Murray Edwards Executive Chairman
Tim Shawn McKay Chief Operating Officer
Corey B. Bieber Chief Financial Officer & Senior VP-Finance
Stephen C. Suche Vice President-Information & Corporate Services
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN NATURAL RESOURCES LIMITED1.98%41 348
CNOOC LTD10.05%60 291
CONOCOPHILLIPS-0.02%59 871
EOG RESOURCES INC0.53%58 655
OCCIDENTAL PETROLEUM CORPORATION-3.97%51 891
OIL & NATURAL GAS CORPORATION LIMITED-6.87%35 518