Canadian Natural Resources in Talks for $1B Acquisition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 21 Jan 26
Source: seekingalpha
Canadian Natural Resources Ltd. has seen its stock rise as it reaches a 52-week high.
The company is in discussions to acquire a portfolio of natural gas assets worth over $1 billion from Tourmaline Oil, indicating strong interest in the Montney Basin's resources. The acquisition talks follow the filing for federal approval with Canada's Competition Bureau, emphasizing the company's commitment to expanding its asset base in a region known for significant natural gas production.
This potential acquisition highlights Canadian Natural's strategic focus on enhancing its resource portfolio, particularly in light of the growing interest in the Montney Basin driven by recent market dynamics.
Analyst Views on CNQ
Wall Street analysts forecast CNQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CNQ is 39.17 USD with a low forecast of 33.83 USD and a high forecast of 62.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
4 Buy
5 Hold
0 Sell
Moderate Buy
Current: 36.670
Low
33.83
Averages
39.17
High
62.00
Current: 36.670
Low
33.83
Averages
39.17
High
62.00
About CNQ
Canadian Natural Resources Limited is a senior crude oil and natural gas production company. The Company has operations in its core areas located in Western Canada, the United Kingdom portion of the North Sea and Offshore Africa. Its Oil Sands Mining and Upgrading segment produces synthetic crude oil through bitumen mining and upgrading operations at Horizon Oil Sands (Horizon) and through the Company's direct and indirect interest in the Athabasca Oil Sands Project (AOSP). Within Western Canada in the Midstream and Refining segment, the Company maintains certain activities that include pipeline operations, an electricity co-generation system and an investment in the North West Redwater Partnership (NWRP), a general partnership formed to upgrade and refine bitumen in the Province of Alberta. Its Pelican Lake asset is a large, contiguous, shallow, medium crude oil pool. It produces natural gas in western Canada and has a significant land base in both the Montney and Deep Basin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
