- Canadian Natural Resources Limited (TSX: CNQ) is trending hot on the stock markets after announcing its fourth-quarter and full-year results for fiscal 2021.
- The Calgary-based energy giant said that its net profit jumped to C$ 7.66 billion in fiscal 2021, marking a substantial growth from a net loss of C$ 435 million in 2020.
- CNQ stock ballooned by roughly 93 per cent in the last 12 months.
Canadian Natural Resources Limited (TSX: CNQ) has released its Q4 and full-year results for 2021, causing its stocks to garner attention on the markets.
The Calgary-based energy giant saw its net profit jumped to C$ 7.66 billion in fiscal 2021, marking a substantial growth from a net loss of C$ 435 million in 2020.
Let us glance at how CNQ performed in Q4 FY2021.
Canadian Natural Resources (TSX: CNQ)’ Q4 FY2021 results
The C$ 85-billion market cap company saw its net profit grow to C$ 2.53 billion in the fourth quarter of FY2021 compared to C$ 749 billion in Q4 2020. CNQ’s basic earnings per shares (EPS) were C$ 2.16, while its diluted EPS amounted to C$ 2.14 in the latest quarter.
Canadian Natural quadrupled its cash flow operating activities to C$ 4.71 billion in Q4 FY2021 compared to C$ 1.27 billion a year ago. The oil company posted C$ 4.33 billion in adjusted funds flow in the latest quarter compared to C$ 1.7 billion in the prior-year quarter.
Canadian Natural’s stock performance
Stocks of Canadian Natural clocked a 52-week high of C$ 76.73 in the light of its latest earnings reports and closed at C$ 72.49 apiece on Thursday, with 7.1 million shares exchanging hands.
The oil stock also ballooned by roughly 93 per cent year-over-year (YoY).
Canadian Natural also hiked its quarterly dividend by 28 per cent to C$ 0.75 apiece, payable on April 5.
Investors should be alert about the ongoing market conditions to wisely take any investment decisions as such factors can influence oil prices, impacting CNQ’s performance.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.