12 Best Large Cap Energy Stocks to Buy Now

9. Canadian Natural Resources Limited (NYSE:CNQ)

Number of Hedge Fund Holders: 34

Canadian Natural Resources Limited (NYSE:CNQ) is a senior crude oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the UK portion of the North Sea, and offshore Africa.

Canadian Natural Resources Limited (NYSE:CNQ) reported its Q4 2025 results on March 5. The company’s adjusted EPS of C$0.82 exceeded estimates by C$0.12, with executives pointing to its ability to weather dramatic swings in oil prices thanks to a low-cost structure and diversification strategy. CNQ’s output surged by 12.8% YoY to ​a record 1.66 million barrels of oil equivalent per day (boepd) in the fourth quarter, while its total annual production for FY 2025 also jumped by 15% YoY to hit a record 1.57 million boepd.

Moreover, Canadian Natural Resources Limited (NYSE:CNQ) completed a strategic acquisition in the first quarter of 2026. As a result, the company increased its FY2026 production forecast to 1.62 million-1.67 million boepd, from 1.59 million-1.65 million boepd previously.

The strong performance enabled Canadian Natural Resources Limited (NYSE:CNQ) to reduce its net debt by C$2.7 billion in 2025, with long-term debt totaling C$15.94 billion at the end of the year. As a result, the company has decided to increase its shareholder returns to 75% of its free cash flow. Moreover, the management clarified that when the firm’s net debt levels fall to C$13 billion, it will target to increase shareholder returns to 100% of FCF.