Canadian Natural Resources (TSX:CNQ) Stock Still Looks Below Fair Value After 308% Run

Canadian Natural Resources’ valuation still looks below fair value after a major rally is the article’s central point, despite strong shareholder returns over multiple years. The company (TSX: CNQ) is cited as trading at C$65.48, where Simply Wall St’s broader valuation checks indicate undervaluation. It highlights a 308.4% return over five years, describing the recent advance as more of a multi-year re-rating than a short-term spike. Over the last year, the stock is reported to have returned 59.4%. On earnings, the article states that CNQ trades at a P/E of 14.0x, below the Oil and Gas industry average of about 24.7x and a peer average of 27.0x. A “fair ratio” is estimated at 18.3x, implying room between the current multiple and its benchmark. The narrative links valuation support to progress on the Pathways carbon capture and storage initiative, while noting that execution or regulatory risks could weigh on future cash-flow reliability.