12 Most Promising Energy Stocks According to Analysts

9) Canadian Natural Resources Limited (NYSE:CNQ)

Average Upside Potential: 26.8%

Number of Hedge Fund Holders: 48

Canadian Natural Resources Limited (NYSE:CNQ) is a senior crude oil and natural gas production company, having continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea, and Offshore Africa. The company’s high quality, diversified asset base along with its flexible capital allocation strategy remains a significant competitive advantage. Canadian Natural Resources Limited (NYSE:CNQ)’s disciplined and focused approach allocates capital and focuses on optimizing the product mix based on the highest return projects, enhancing the shareholders’ value.

Its 2025 operating capital budget of ~$6 billion aims to provide value growth and robust returns on capital. Canadian Natural Resources Limited (NYSE:CNQ) targets annual average production in 2025 of between 1,510 MBOE/d and 1,555 MBOE/d, leading to production growth of ~170 MBOE/d or 12% over 2024 levels based on mid-point of corporate guidance. This corporate growth consists of the strategic acquisition of the AOSP and Duvernay assets completed in 2024. Michael Barth, CFA from Raymond James maintained a “Hold” rating on Canadian Natural Resources Limited (NYSE:CNQ)’s stock.

The company’s diversified production mix is balanced and is focused on consisting of ~47% light crude oil, NGLs, and Synthetic Crude Oil, 26% heavy crude oil, and 27% natural gas based on the mid-point of the corporate production guidance range.