With a 5-year average dividend growth rate of 20.94%, Canadian Natural Resources Limited (NYSE:CNQ) is included among the 14 Best Dividend Stocks to Buy for Steady Growth.

On May 7, Raymond James analyst Michael Barth upgraded Canadian Natural Resources Limited (NYSE:CNQ) to Outperform from Market Perform and raised the price target to C$67 from C$65. The analyst noted that since the firm downgraded the shares in late March, the stock had fallen around 13% and underperformed its peer group by roughly 10%. He also pointed out that the stock had nearly returned to the levels seen before the Iran conflict began.

During the same period, synthetic crude oil premiums started to emerge, which the analyst described as a tailwind largely specific to Canadian Natural. That development led the firm to increase its FY26 and FY27 AFFO estimates. The analyst also said there is now better visibility into the company reaching its long-term net debt target by the end of the year while “simultaneously materially increasing shareholder returns.”

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.

While we acknowledge the potential of CNQ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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