Canadian Natural Resources Ltd. (CNQ, CNQ.TO) reported a plunge in fourth-quarter 2012 net earnings to C$352 million, or C$0.32 per share, from last year's C$832 million, or C$0.76 per share. On an adjusted basis, net earnings from operations totaled C$359 million, or C$0.33 per share this quarter. On average, 15 analysts polled by Thomson Reuters expected earnings per share of C$0.40 for the quarter. Analysts' estimates typically exclude one-time items.
The firm clocked revenue of C$3.7 billion for the quarter, versus C$4.22 billion a year before. Analysts estimated revenues of C$3.59 billion for the quarter.
For 2013, the board has approved a 19% dividend increase to C$0.125 per quarter, C$0.50 per share annualized.
Looking forward, the company forecasts 2013 production levels before royalties to average between 1,085 and 1,145 MMcf/d of natural gas and between 482,000 and 513,000 bbl/d of crude oil and NGLs. First-quarter production guidance before royalties is forecast to average between 1,130 and 1,150 MMcf/d of natural gas and between 471,000 and 495,000 bbl/d of crude oil and NGLs.
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