10 Best Oil Stocks to Invest In According to Billionaires

6. Canadian Natural Resources Limited (NYSE:CNQ)

Number of Billionaire Holders: 14

Canadian Natural Resources Limited (NYSE:CNQ) is one of the largest independent crude oil and natural gas producers in the world, continuing operations in its core areas, which are located in Western Canada, the UK portion of the North Sea, and Offshore Africa. The company boasts total proved reserves of 15.2 billion BOE and total proved plus probable reserves of 20.1 billion BOE as of year end 2024, both of which increased 9% from year end 2023 levels.

Canadian Natural Resources Limited (NYSE:CNQ) missed earnings expectations in Q4 2024 as its EPS of $0.66 fell below estimates of $0.69. That said, the company achieved record annual average production of over 1.36 million boed in 2024, which includes record annual liquid production of over one million barrels per day. Over the last three years, CNQ has delivered annual production per share CAGR of 7% and improved liquids margins significantly by reducing operating costs by around 15%.

Canadian Natural Resources Limited (NYSE:CNQ) remains committed to its shareholders and has increased its dividend for 25 consecutive years, with a CAGR of 21% over that time. The company returned approximately $7.1 billion to shareholders in 2024, including dividends and share repurchases, and approved a 4.4% increase in its quarterly dividend last month.