Is Canadian Natural Resources (CNQ) One of the Cheap Stocks For the Next 10 Years?

Canadian Natural Resources Limited (NYSE:CNQ) is one of the cheap stocks to buy for the next 10 years. On May 7, Canadian Natural Resources reported earnings for Q1 2026, generating $2.4 billion in adjusted net earnings and $4.4 billion in adjusted funds flow. Total production reached ~1,643,000 BOE/d, marking a 4% year-over-year increase driven by record conventional production in North America. The company also achieved industry-leading operating costs of $23.73/bbl in its Oil Sands Mining and Upgrading segment.

The company maintained its commitment to shareholder returns, distributing $1.5 billion through $1.2 billion in dividends and $0.3 billion in share repurchases during the quarter. This marks the 26th consecutive year of dividend increases, with the annualized dividend now at $2.50 per share. Robust commodity prices and efficient operations have further accelerated debt reduction, bringing net debt below $16 billion.

Looking ahead, Canadian Natural Resources Limited (NYSE:CNQ) is progressing on several medium-term growth projects, including the Jackfish and Pike 2 expansions. While long-term oil sands mining expansions remain on hold pending regulatory and fiscal certainty, the company continues to unlock value through its multilateral drilling program and solvent-enhanced recovery technologies. Current capital investment for the quarter totaled ~$2.0 billion to support these development goals.

Canadian Natural Resources Limited (NYSE:CNQ) is a senior crude oil and natural gas production company. The company operates in core regions across Western Canada, the United Kingdom portion of the North Sea, and Offshore Africa.

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