Canadian Natural Resources Ltd. CNQ is engaged in the acquisition, development and exploitation of crude oil and natural gas properties. It is one of the largest independent exploration and production companies in Canada, with extensive heavy crude oil and natural gas developments.

The ongoing oil price slump has impacted the company’s profits. This is reflected in the consensus estimate that has moved down in the last few months. In the last four quarters, Canadian Natural Resources has reported a positive average earnings surprise of 18.17%, missing the estimate twice.

Currently, Canadian Natural Resources has a Zacks Rank #3 (Hold) but that could change following its third quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
 
Earnings: Canadian Natural Resources misses on earnings. Adjusted earnings per share (excluding special items) came in at 8 cents, missing the Zacks Consensus Estimate of 11 cents.
 
Key Stats: Canadian Natural reported quarterly production of 848,701 barrels of oil equivalent per day (BOE/d), 6.5% higher than the prior-year quarter level.

As reported, the average realized liquid price (before hedging) during the third quarter was C$41.55 per barrel while average realized natural gas price was C$3.22 per thousand cubic feet.

Check back later for our full write up on this Canadian Natural Resources earnings report later!
 
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