Canadian Natural Resources Limited (CNQ)
Canadian Natural Resources is a Canadian based senior independent energy company, engaged in acquiring, exploring, developing, producing, marketing and selling crude oil, natural gas and natural gas liquids. Its principal core regions are western Canada, the UK sector of the North Sea and Offshore Africa. It operates and maintains a large working interest in a majority of the prospects it takes part in, and the filing sets out an objective of increasing production, reserves, cash flow and net asset value per common share, through developing existing properties and through discovery or acquisition. At the end of 2025 it had 10,750 full-time equivalent permanent employees and the figures are stated in Canadian dollars.
Canadian Natural Resources Limited files a 40-F with the SEC once a year, in Canadian dollars. In the year to 31 December 2025 it reported revenue of CAD 38,762 million ($27.8 billion at the year's average rate), up 8.7% on the year before. Its profit was CAD 10,820 million, up 77.2%, and diluted earnings per share CAD 5.16.
Canadian Natural Resources (CNQ) in brief
Canadian Natural Resources (CNQ) reported revenue of CAD 38.8 billion for the year to 31 December 2025, up 8.7% on the year before.
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Profit attributable to shareholders was CAD 10.8 billion and diluted earnings per share CAD 5.16. Revenue was CAD 35.7 billion in 2024, CAD 36.0 billion in 2023, CAD 42.3 billion in 2022 and CAD 30.1 billion in 2021. Profit attributable to shareholders in the same years was CAD 6.1 billion, CAD 8.2 billion, CAD 10.9 billion and CAD 7.7 billion. Revenue grew 18.1% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of Canadian Natural Resources was $100.4 billion, 13.2 times its earnings for 2025.The share in the US
| Last close | $48.24 on 10 November 2026 |
| 52-week range | $30.59 (7 January 2026) to $56.12 (30 October 2026) |
| Over one year | up 50.8% |
| Market cap | $100.4 billion: 2,081,578,000 shares outstanding at 31 December 2025 (40-F), each US share standing for one ordinary share |
| P/E, latest fiscal year | 13.2: the last close over diluted EPS for the year to Dec 2025, CAD 5.16 per ordinary share, $3.66 at 1.41 CAD per US dollar on 6 November 2026 (FRED DEXCAUS). The company reports once a year, so this is the latest fiscal year, not the last four quarters. |
US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.
Ratios
From the latest annual report, the year to Dec 2025, in dollars
ROE24.4%
ROCEn/a
Operating marginn/a
Net margin27.9%
FCF marginn/a
Interest covern/a
Debt to equity0.37
Cash conversion1.40
Share count, last 12 months-1.6%
Sales CAGR, 3 years-2.9%
Profit CAGR, 3 years-0.4%
EPS$3.66
At the close of 10 November 2026
Price$48.24
Market cap$100.4 billion
Stock P/E13.19
Price to book3.19
EV / EBITDAn/a
Dividend yield3.5%
Market cap / sales3.65
52-week high$56.12
52-week low$30.59
Price, 1 year50.8%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
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The priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings total Canadian Natural Resources Limited states in its annual report, never added up from its parts; lease liabilities are a separate line. Nothing here is a valuation or a view.CNQgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
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Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed, in dollars at the year's average exchange rate (Federal Reserve, from FRED). Sales and margin are each year's revenue in dollars and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet in dollars at its year-end rate and its share count per US share. The dashed line is the median over the range shown. The P/E above uses today's exchange rate, so the latest point here can differ from it a little. Drawn in your browser; the range and overlay you pick are remembered here only.The public record on CNQ
| Dividends | CAD 4,871 million paid in cash dividends in FY2025 |
| Filings | 16 in twelve months: 14 reports on Form 6-K, most often canadian natural resources limited announces quarterly dividend (3); canadian natural resources limited announces 2026 third quarter results (1); canadian natural resources limited announces 2026 second quarter results (1); reports voting results at annual meeting (1); canadian natural resources limited announces 2026 first quarter results (1) |
| Planned insider sales | 1 Form 144 notice in twelve months, $1.2 million; latest 27 March 2026 |
| Options tape | put/call 0.3 by open interest at the 10 November 2026 close; the straddle prices a 3.0% move to 13 November 2026 |
| 13F holders | 750 funds reported a position for the quarter to 30 June 2026; largest Capital World Investors |
| Congress | 0 House trades disclosed in six months |
| Short interest | 51.9 million shares short, 8.88 days to cover at 30 October 2026 |
Income statement (profit and loss), 11 fiscal years
Figures in
Play it forward: change any box and its column follows; every box opens at the company's own record, shown under the row's name, and says when you set it outside every year in the table.
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Each column runs from the latest year filed to the year chosen in its heading, at a yearly rate. Sales growth starts at the company's own five-year rate and eases a third of the way each year toward the median of the 83 peers in Petroleum and Natural Gas (16.0% a year), because a rate far from the rest rarely lasts. Before you open a year, the strip reads today's price backwards: the yearly sales growth that brings EPS, at the company's own margins, tax and share count, to today's price at the median P/E of the 63 peers in Petroleum and Natural Gas (11.3). Low, middle, high opens three columns for one year: the low and high cases take the company's own weaker and stronger years in the table (the lower and upper quarter of its yearly sales growth and operating margin) and the lower and higher of today's P/E and its peers'; the middle is the boxes as they open. Net income keeps the share that went to minority holders; EPS is net income over the diluted shares, on the same basis as the EPS in the table. The price is that year's EPS at the P/E you set, and the yearly return runs from today's price to the year's end. These are your assumptions and your arithmetic, not an estimate of ours. The link carries your columns, so you can send the forecast to someone.| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 12,363 | 11,427 | 17,342 | 21,027 | 22,871 | 16,893 | 30,057 | 42,298 | 35,968 | 35,656 | 38,762 |
| Finance costs | 375 | 431 | 728 | 798 | 912 | 828 | 743 | 670 | 691 | 673 | 1,039 |
| Profit before tax | -667 | -1,063 | 2,873 | 3,522 | 4,956 | -873 | 9,911 | 13,704 | 10,165 | 8,059 | 13,241 |
| Income tax | -30.0 | -859 | 476 | 931 | -460 | -438 | 2,247 | 2,767 | 1,932 | 1,953 | 2,421 |
| Profit for the year | -637 | -204 | 2,397 | 2,591 | 5,416 | -435 | 7,664 | 10,937 | 8,233 | 6,106 | 10,820 |
| Profit attributable to shareholders | -637 | -204 | 2,397 | 2,591 | 5,416 | -435 | 7,664 | 10,937 | 8,233 | 6,106 | 10,820 |
| Filing | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F |
CAD million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
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A line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Dec 2016, Dec 2017); the first-filed figure is in the CSV. Profit attributable to shareholders is the profit for the year; the company reports no minority interests. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Diluted EPS | -0.58 | -0.19 | 2.03 | 2.12 | 4.54 | -0.37 | 6.46 | 4.76 | 3.74 | 2.85 | 5.16 |
| Basic EPS | -0.58 | -0.19 | 2.04 | 2.13 | 4.55 | -0.37 | 6.49 | 4.82 | 3.77 | 2.87 | 5.17 |
| Filing | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F |
CAD per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.
Cash flow statement
Follow the cash: free cash flow, which is operating cash flow less capital expenditure and share-based pay, for five years and after, in today's money.
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The figure a share at the top is what a discounted cash flow calls intrinsic value, worked out on your assumptions. Everything after year five is one sum: the sixth year's cash, growing at the long-run rate every year after, added up and brought back to today's money. Each year runs from the latest year filed. Sales growth opens where Play it forward does: the company's own five-year rate, easing a third of the way each year toward the median of the 83 peers in Petroleum and Natural Gas (16.0% a year); change a year and the years after it follow. Operating cash flow, capital expenditure and share-based pay open at the company's own median share of sales over its last five years, shown under each row. Share-based pay is taken off because operating cash flow adds back the shares paid to staff as if they cost nothing; set it to 0 to leave it in. Capital spending counts every capital line the company files in its cash flow, such as equipment it leases to customers, software, wells or property it develops, named under the row, while the Capital expenditure row in the table below stays the one line as filed; buying a business, securities or a finished property is not counted. The discount rate opens at 10%, about what US stocks have returned a year over the long run, so it is the return you give up by holding this company instead of the market; the growth after year five opens at 3%, a little under the US economy's long-run growth in dollars, because no company outgrows it for ever. Net debt is the debt and short-term borrowings less the cash on the latest balance sheet that shows the debt; the figure per share divides what is left by the diluted share count. These are your assumptions and your arithmetic, not an estimate of ours. The link carries them, so you can send them to someone.| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 5,632 | 3,452 | 7,262 | 10,121 | 8,829 | 4,714 | 14,478 | 19,391 | 12,353 | 13,386 | 15,106 |
| Purchase of property, plant and equipment | 5,118 | 4,152 | 4,574 | 4,175 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Free cash flow | 514 | -700 | 2,688 | 5,946 | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Cash from investing | -5,465 | -3,811 | -13,102 | -4,814 | -7,255 | -2,819 | -3,703 | -4,987 | -4,858 | -14,095 | -6,687 |
| Cash from financing | -123 | 307 | 5,960 | -5,343 | -1,536 | -1,850 | -10,215 | -14,228 | -7,538 | -37.0 | -7,877 |
| Depreciation and amortisation | 5,483 | 4,858 | 5,186 | 5,161 | 5,546 | 6,046 | 5,724 | 7,353 | 6,413 | 6,681 | 9,384 |
| Buybacks | n/a | 0.0 | 0.0 | 1,282 | 941 | 271 | 1,581 | 5,571 | 3,318 | 2,660 | 1,449 |
| Dividends paid | 1,251 | 758 | 1,252 | 1,562 | 1,743 | 1,950 | 2,170 | 4,926 | 3,891 | 4,429 | 4,871 |
| Filing | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F |
CAD million, from the cash flow statement as filed.
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Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.Balance sheet at year end
| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funded by | |||||||||||
| Equity attributable to shareholders | 27,381 | 26,267 | 31,653 | 31,974 | 34,991 | 32,380 | 36,945 | 38,175 | 39,832 | 39,468 | 44,366 |
| Borrowings, as filed | n/a | 16,805 | 22,458 | 20,623 | 20,982 | 21,453 | 14,694 | 11,445 | 10,799 | 18,819 | 16,617 |
| Lease liabilities | n/a | n/a | n/a | 0.0 | 1,809 | 1,690 | 1,584 | 1,540 | 1,555 | 1,464 | 3,106 |
| Other liabilities | n/a | 15,576 | 19,756 | 18,962 | 20,339 | 19,753 | 23,442 | 24,982 | 23,769 | 25,608 | 27,741 |
| Total equity and liabilities | n/a | 58,648 | 73,867 | 71,559 | 78,121 | 75,276 | 76,665 | 76,142 | 75,955 | 85,359 | 91,830 |
| Owned | |||||||||||
| Property, plant and equipment | n/a | 50,910 | 65,170 | 64,559 | 68,043 | 65,752 | 66,400 | 64,859 | 64,581 | 73,414 | 77,645 |
| Cash and cash equivalents | 69.0 | 17.0 | 137 | 101 | 139 | 184 | 744 | 920 | 877 | 131 | 673 |
| Inventories | n/a | 689 | 894 | 955 | 1,152 | 1,060 | 1,548 | 1,815 | 2,034 | 2,793 | 2,621 |
| Other assets | n/a | 7,032 | 7,666 | 5,944 | 8,787 | 8,280 | 7,973 | 8,548 | 8,463 | 9,021 | 10,891 |
| Total assets | n/a | 58,648 | 73,867 | 71,559 | 78,121 | 75,276 | 76,665 | 76,142 | 75,955 | 85,359 | 91,830 |
| Filing | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F |
CAD million, at each fiscal year end.
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Both totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.Ratios on the filed lines
| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | -5.2% | -1.8% | 13.8% | 12.3% | 23.7% | -2.6% | 25.5% | 25.9% | 22.9% | 17.1% | 27.9% |
| Free cash flow margin | 4.2% | -6.1% | 15.5% | 28.3% | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Return on year-end equity | -2.3% | -0.8% | 7.6% | 8.1% | 15.5% | -1.3% | 20.7% | 28.6% | 20.7% | 15.5% | 24.4% |
| Effective tax rate | n/a | n/a | 16.6% | 26.4% | -9.3% | n/a | 22.7% | 20.2% | 19.0% | 24.2% | 18.3% |
| Filing | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F | 40-F |
Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.
Questions
What was Canadian Natural Resources' revenue in 2025?
Canadian Natural Resources (CNQ) reported revenue of CAD 38.8 billion for the year to 31 December 2025, up 8.7% on the year before.
How much did Canadian Natural Resources earn in 2025?
Profit attributable to shareholders was CAD 10.8 billion for the year to 31 December 2025, and diluted earnings per share CAD 5.16.
What is Canadian Natural Resources' P/E ratio?
At the close of 10 November 2026, Canadian Natural Resources traded at 13.2 times its earnings for 2025.
What is Canadian Natural Resources' market cap?
The market cap of Canadian Natural Resources was $100.4 billion at the close of 10 November 2026.
The exchange rates used
| Year to | Average over the year CAD per US dollar | At the year end CAD per US dollar |
|---|---|---|
| Dec 2015 | 1.28 | 1.38 |
| Dec 2016 | 1.32 | 1.34 |
| Dec 2017 | 1.30 | 1.25 |
| Dec 2018 | 1.30 | 1.36 |
| Dec 2019 | 1.33 | 1.30 |
| Dec 2020 | 1.34 | 1.28 |
| Dec 2021 | 1.25 | 1.28 |
| Dec 2022 | 1.30 | 1.35 |
| Dec 2023 | 1.35 | 1.32 |
| Dec 2024 | 1.37 | 1.44 |
| Dec 2025 | 1.40 | 1.37 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXCAUS.
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Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in Canadian dollars.Peers: Petroleum and Natural Gas
| Company | Market cap | P/E | ROE | Op. margin | Sales growth TTM | Debt to equity | Div. yield |
|---|---|---|---|---|---|---|---|
| Shell plc SHEL * | $276.8 billion | 16.21 | 10.2% | n/a | -6.1% | 0.43 | 3.1% |
| TotalEnergies SE TTE * | $193.9 billion | 15.20 | 11.4% | n/a | -6.2% | 0.53 | 4.2% |
| Petróleo Brasileiro S.A. (Petrobras) PBR * | $117.6 billion | 6.00 | 26.0% | 29.3% | -2.4% | 0.35 | 6.9% |
| Canadian Natural Resources Limited CNQ * | $100.4 billion | 13.19 | 24.4% | n/a | 8.7% | 0.37 | 3.5% |
| Eni S.p.A. E * | $81.5 billion | 31.66 | 5.4% | 6.1% | -7.5% | 0.59 | 4.3% |
| EOG Resources Inc. EOG | $78.6 billion | 9.79 | 24.7% | 35.8% | 31.7% | 0.24 | 2.7% |
| Occidental Petroleum Corp. OXY | $56.9 billion | n/a | n/a | n/a | n/a | 0.25 | 1.7% |
| Diamondback Energy, Inc. FANG | $49.7 billion | 24.36 | 5.3% | 12.6% | 21.1% | 0.34 | 2.4% |
| Devon Energy Corp. DVN | $49.5 billion | 10.86 | 8.6% | 16.2% | 27.1% | 0.25 | 2.6% |
| Woodside Energy Group Ltd. WDS * | $40.1 billion | 14.84 | 7.6% | 30.0% | -1.5% | 0.33 | 5.0% |
| EQT Corp. EQT | $32.5 billion | 12.33 | 10.4% | 41.8% | 18.6% | 0.22 | 1.3% |
| Expand Energy Corp. EXE | $20.3 billion | 7.62 | 14.1% | 25.7% | 28.2% | 0.24 | 2.6% |
All 98 in Petroleum and Natural Gas
| Company | Market cap | P/E | ROE | Op. margin | Sales growth TTM | Debt to equity | Div. yield |
|---|---|---|---|---|---|---|---|
| ExxonMobil Holdings Corp. XOM | $670.8 billion | 16.89 | 15.3% | 14.0% | 19.0% | 0.13 | 2.5% |
| Chevron Corp. CVX | $415.1 billion | 15.45 | 13.9% | 16.7% | 20.0% | 0.17 | 3.3% |
| Shell plc SHEL * | $276.8 billion | 16.21 | 10.2% | n/a | -6.1% | 0.43 | 3.1% |
| TotalEnergies SE TTE * | $193.9 billion | 15.20 | 11.4% | n/a | -6.2% | 0.53 | 4.2% |
| ConocoPhillips COP | $160.3 billion | 14.25 | 17.5% | n/a | 13.3% | 0.35 | 2.5% |
| BP plc BP * | $122.5 billion | n/a | 0.1% | 6.6% | -1.1% | 1.09 | 4.1% |
| Petróleo Brasileiro S.A. (Petrobras) PBR * | $117.6 billion | 6.00 | 26.0% | 29.3% | -2.4% | 0.35 | 6.9% |
| Marathon Petroleum Corp. MPC | $106.1 billion | 7.62 | 63.0% | 12.5% | 31.2% | 1.42 | 1.0% |
| Equinor ASA EQNR * | $101.7 billion | 20.96 | 12.5% | 23.8% | 2.6% | 0.69 | 0.3% |
| Canadian Natural Resources Limited CNQ * | $100.4 billion | 13.19 | 24.4% | n/a | 8.7% | 0.37 | 3.5% |
| Valero Energy Corp. VLO | $97.8 billion | 7.89 | 46.3% | 11.5% | 24.6% | 0.39 | 1.3% |
| Phillips 66 PSX | $97.8 billion | 8.01 | 36.6% | n/a | 27.5% | 0.54 | 2.0% |
| Eni S.p.A. E * | $81.5 billion | 31.66 | 5.4% | 6.1% | -7.5% | 0.59 | 4.3% |
| Suncor Energy Inc. SU * | $80.9 billion | 19.71 | 13.1% | n/a | -4.6% | 0.22 | 2.5% |
| EOG Resources Inc. EOG | $78.6 billion | 9.79 | 24.7% | 35.8% | 31.7% | 0.24 | 2.7% |
| SLB Limited SLB | $73.7 billion | 24.23 | 11.9% | n/a | 4.6% | 0.49 | 2.3% |
| Imperial Oil Ltd. IMO | $58.1 billion | 9.80 | 24.8% | 14.2% | 15.7% | 0.14 | 2.3% |
| Occidental Petroleum Corp. OXY | $56.9 billion | n/a | n/a | n/a | n/a | 0.25 | 1.7% |
| Diamondback Energy, Inc. FANG | $49.7 billion | 24.36 | 5.3% | 12.6% | 21.1% | 0.34 | 2.4% |
| Devon Energy Corp. DVN | $49.5 billion | 10.86 | 8.6% | 16.2% | 27.1% | 0.25 | 2.6% |
| Woodside Energy Group Ltd. WDS * | $40.1 billion | 14.84 | 7.6% | 30.0% | -1.5% | 0.33 | 5.0% |
| EQT Corp. EQT | $32.5 billion | 12.33 | 10.4% | 41.8% | 18.6% | 0.22 | 1.3% |
| Halliburton Co. HAL | $26.3 billion | 13.33 | 18.0% | 12.6% | 1.5% | 0.64 | 2.1% |
| Expand Energy Corp. EXE | $20.3 billion | 7.62 | 14.1% | 25.7% | 28.2% | 0.24 | 2.6% |
| Permian Resources Corp. PR | $18.2 billion | 11.32 | 13.0% | 40.1% | 22.8% | 0.25 | 2.8% |
| Ovintiv Inc. OVV | $16.6 billion | 12.42 | 11.4% | 15.1% | 15.0% | 0.31 | 1.9% |
| APA Corp. APA | $15.2 billion | 7.33 | 30.2% | 46.4% | -3.5% | 0.46 | 2.2% |
| Viper Energy, Inc. VNOM | $14.5 billion | 29.33 | 5.4% | 36.2% | n/a | 0.47 | 6.1% |
| Range Resources Corp. RRC | $12.0 billion | 13.59 | 18.3% | 32.4% | 20.8% | 0.16 | 0.8% |
| Antero Resources Corp. AR | $11.6 billion | 8.50 | 15.9% | 27.6% | 28.7% | 0.32 | n/a |
| PBF Energy Inc. PBF | $8.0 billion | 2.94 | 34.1% | 9.8% | 31.5% | 0.27 | 1.7% |
| Chord Energy Corp. CHRD | $7.4 billion | 8.69 | 10.9% | 22.8% | 30.1% | 0.18 | 3.7% |
| SM Energy Co. SM | $7.0 billion | 7.17 | 12.1% | 23.6% | 107.6% | 0.85 | 2.9% |
| Noble Corp. plc NE | $6.6 billion | 124.53 | 1.3% | 12.0% | -13.0% | 0.44 | 4.9% |
| Matador Resources Co. MTDR | $6.2 billion | 8.68 | 11.9% | 31.6% | 1.3% | 0.82 | 3.0% |
| Magnolia Oil & Gas Corp. MGY | $6.1 billion | 10.30 | 10.1% | 36.9% | 26.3% | 0.46 | 2.9% |
| Transocean Ltd. RIG | $5.8 billion | 37.04 | 3.5% | 20.4% | 3.9% | 0.59 | n/a |
| Valaris Ltd. VAL | $5.5 billion | 6.93 | 24.4% | 9.0% | -11.6% | 0.33 | n/a |
| CNX Resources Corp. CNX | $5.3 billion | 6.26 | 18.9% | 42.7% | 47.0% | 0.47 | 0.0% |
| Murphy Oil Corp. MUR | $5.0 billion | 10.82 | 8.7% | 25.7% | 13.7% | 0.29 | 4.0% |
| Crescent Energy Co. CRGY | $4.7 billion | n/a | 1.2% | 27.8% | 33.5% | 0.92 | 4.3% |
| Valvoline Inc. VVV | $4.6 billion | 44.66 | 24.4% | 15.3% | 16.1% | 3.84 | n/a |
| Comstock Resources Inc. CRK | $4.2 billion | 9.88 | 16.1% | 28.4% | 17.5% | 1.29 | 0.0% |
| California Resources Corp. CRC | $4.2 billion | n/a | -16.5% | -20.3% | -23.8% | 0.42 | 3.4% |
| Hess Midstream LP HESM | $3.9 billion | 10.43 | n/a | 62.7% | -0.6% | n/a | n/a |
| CVR Energy Inc. CVI | $3.9 billion | 14.72 | 24.4% | 5.7% | 34.4% | 1.63 | n/a |
| Icahn Enterprises L.P. IEP | $3.8 billion | n/a | n/a | -9.9% | 16.0% | n/a | n/a |
| Patterson-UTI Energy, Inc. PTEN | $3.8 billion | n/a | -0.8% | 0.9% | 0.0% | 0.40 | 3.8% |
| Delek US Holdings, Inc. DK | $3.8 billion | 3.33 | 70.8% | 13.3% | 27.1% | 2.03 | 1.6% |
| Helmerich & Payne, Inc. HP | $3.6 billion | n/a | -5.1% | 2.3% | 16.6% | 0.70 | 0.7% |
| Oceaneering International Inc. OII | $3.5 billion | 10.68 | 27.1% | 10.4% | 3.0% | 0.40 | n/a |
| Par Pacific Holdings, Inc. PARR | $3.4 billion | 3.54 | 40.7% | 13.2% | 29.1% | 0.21 | n/a |
| WaterBridge Infrastructure LLC WBI | $3.3 billion | 190.73 | 1.3% | 15.5% | n/a | 2.37 | n/a |
| Calumet, Inc. CLMT | $3.1 billion | n/a | n/a | 3.4% | 28.4% | n/a | n/a |
| Gulfport Energy Corp. GPOR | $2.8 billion | 6.23 | 25.5% | 44.3% | 20.3% | 0.56 | n/a |
| Seadrill Ltd. SDRL | $2.7 billion | n/a | -0.6% | 8.6% | 17.1% | 0.26 | n/a |
| Quaker Chemical Corp. KWR | $2.7 billion | 27.59 | 6.9% | 7.6% | 8.7% | 0.63 | 1.3% |
| Northern Oil & Gas, Inc. NOG | $2.5 billion | n/a | -25.7% | -24.2% | -28.3% | 1.43 | 7.7% |
| Talos Energy Inc. TALO | $2.5 billion | n/a | -20.2% | -0.4% | 13.5% | 0.72 | n/a |
| Select Water Solutions, Inc. WTTR | $2.2 billion | 37.32 | 4.6% | 5.2% | 7.8% | 0.23 | n/a |
| National Energy Services Reunited Corp. NESR | $2.1 billion | 19.03 | 10.2% | 10.1% | n/a | 0.25 | n/a |
| BKV Corp. BKV | $2.0 billion | 8.99 | 9.8% | 28.1% | 34.2% | 0.89 | n/a |
| Liberty Energy Inc. LBRT | $2.0 billion | 52.04 | 2.1% | 1.7% | 13.6% | 0.67 | 2.9% |
| Mach Natural Resources LP MNR | $1.6 billion | 10.14 | n/a | 17.9% | 36.7% | n/a | n/a |
| Dorchester Minerals, L.P. DMLP | $1.4 billion | 13.18 | n/a | 49.8% | 38.2% | n/a | n/a |
| Nabors Industries Ltd. NBR | $1.3 billion | n/a | -6.8% | 14.0% | 4.8% | 3.57 | n/a |
| Kosmos Energy Ltd. KOS | $1.3 billion | n/a | -68.9% | -21.9% | 20.9% | 3.87 | n/a |
| RPC Inc. RES | $1.2 billion | n/a | -3.0% | -2.2% | 17.8% | 0.03 | 3.1% |
| Hornbeck Offshore Services, Inc. HOS | $1.2 billion | n/a | -3.4% | -2.8% | -7.1% | 0.36 | n/a |
| Tamboran Resources Corp. TBN | $994 million | n/a | -3.3% | n/a | n/a | 0.07 | n/a |
| Diversified Energy Co. DEC | $947 million | 16.74 | 11.0% | 14.7% | n/a | 4.29 | 8.7% |
| Riley Exploration Permian, Inc. REPX | $913 million | 8.90 | 16.0% | 45.6% | 45.5% | 0.38 | 3.9% |
| Tetra Technologies Inc. TTI | $884 million | 99.33 | 2.1% | 6.9% | 6.1% | 0.46 | n/a |
| HighPeak Energy, Inc. HPK | $864 million | n/a | n/a | n/a | n/a | 0.78 | 2.3% |
| ProPetro Holding Corp. PUMP | $840 million | n/a | 0.2% | 0.5% | -6.0% | 0.86 | n/a |
| Infinity Natural Resources, Inc. INR | $825 million | 8.34 | 12.8% | 42.1% | 107.6% | 1.39 | n/a |
| Granite Ridge Resources, Inc. GRNT | $795 million | n/a | -9.7% | 13.7% | 24.2% | 0.85 | 7.3% |
| TXO Partners, L.P. TXO | $761 million | n/a | n/a | -23.7% | -1.2% | n/a | n/a |
| Atlas Energy Solutions Inc. AESI | $669 million | n/a | -13.0% | -10.2% | -3.7% | 0.92 | 14.0% |
| ProFrac Holding Corp. ACDC | $645 million | n/a | -76.9% | -12.0% | -3.3% | 2.01 | n/a |
| Vitesse Energy, Inc. VTS | $626 million | n/a | -8.1% | 12.0% | 10.6% | 0.33 | 12.6% |
| Vaalco Energy Inc. EGY | $565 million | n/a | -44.6% | 1.6% | 11.8% | 0.71 | 4.7% |
| Sandridge Energy Inc. SD | $466 million | 4.78 | 17.1% | 38.4% | 24.9% | 0.00 | 4.6% |
| W&T Offshore Inc. WTI | $448 million | n/a | n/a | 5.0% | 20.3% | n/a | 1.4% |
| Core Laboratories Inc. CLB | $410 million | 22.95 | 5.6% | 7.5% | -0.1% | 0.41 | 0.4% |
| Natural Gas Services Group Inc. NGS | $372 million | 18.23 | 6.8% | 21.2% | 24.2% | 1.14 | 1.8% |
| Gran Tierra Energy Inc. GTE | $336 million | n/a | -308.1% | -54.4% | 6.2% | 6.53 | n/a |
| Ring Energy, Inc. REI | $296 million | n/a | -25.1% | -20.5% | 7.4% | 0.47 | n/a |
| Ranger Energy Services, Inc. RNGR | $267 million | 17.32 | 5.1% | 3.9% | 16.9% | 0.00 | 0.5% |
| Pedevco Corp. PED | $177 million | n/a | n/a | 14.0% | 229.4% | 0.00 | n/a |
| Epsilon Energy Ltd. EPSN | $159 million | n/a | -2.7% | 1.0% | 53.7% | 0.31 | n/a |
| Sable Offshore Corp. SOC | $158 million | n/a | -182.8% | -111.9% | n/a | 2.96 | n/a |
| Mammoth Energy Services, Inc. TUSK | $157 million | 11.28 | 5.1% | -10.6% | -10.4% | 0.00 | n/a |
| Evolution Petroleum Corp. EPM | $146 million | n/a | -9.5% | 6.2% | 2.8% | 0.92 | 13.3% |
| Amplify Energy Corp. AMPY | $144 million | 6.91 | 5.9% | 23.0% | -28.2% | 0.00 | n/a |
| Nine Energy Service, Inc. NINE | $102 million | n/a | 61.5% | -4.3% | -4.4% | 0.78 | n/a |
| Empire Petroleum Corp. EP | $101 million | n/a | -974.5% | -224.1% | -20.8% | 2.07 | n/a |
| BIG SKY Industrial Inc. BSIN | $69 million | n/a | -31.7% | -145.5% | -30.4% | 0.25 | n/a |
56 companies share its SEC industry code (Crude Petroleum & Natural Gas); the rest are the names nearest in size in its wider industry, Petroleum and Natural Gas, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
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By market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.Annual reports on EDGAR
| Form | Year to | Filed | |
|---|---|---|---|
| 40-F | 31 December 2025 | 26 March 2026 | EDGAR |
| 40-F | 31 December 2024 | 26 March 2025 | EDGAR |
| 40-F | 31 December 2023 | 20 March 2024 | EDGAR |
| 40-F | 31 December 2022 | 23 March 2023 | EDGAR |
| 40-F | 31 December 2021 | 23 March 2022 | EDGAR |
| 40-F | 31 December 2020 | 24 March 2021 | EDGAR |
| 40-F | 31 December 2019 | 27 March 2020 | EDGAR |
| 40-F | 31 December 2018 | 27 March 2019 | EDGAR |
| 40-F | 31 December 2017 | 22 March 2018 | EDGAR |
| 40-F/A | 31 December 2016 | 27 July 2017 | EDGAR |
| 40-F | 31 December 2016 | 23 March 2017 | EDGAR |
| 40-F | 31 December 2015 | 24 March 2016 | EDGAR |