CNQ vs. COP: Canadian Natural Resources vs. ConocoPhillips Stock Comparison

November 11, 2026

How do Canadian Natural Resources (CNQ) and ConocoPhillips (COP) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Canadian Natural Resources (CNQ) and ConocoPhillips (COP) are both classified in the Oil & Gas Exploration & Production sub-industry within the broader Oil, Gas & Consumable Fuels industry, placing them in the closest GICS peer bucket.

Company profile comparison for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Profile Item	CNQ	COP
Name	Canadian Natural Resources Ltd.	ConocoPhillips
Country/Region	Canada	United States
GICS Sector	Energy	Energy
GICS Industry Group	Energy	Energy
GICS Industry	Oil, Gas & Consumable Fuels	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Oil & Gas Exploration & Production	Oil & Gas Exploration & Production
Market Capitalization	98.81 billion USD	161.12 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	July 31, 2000	December 31, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CNQ

COP

GSPC

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Canadian Natural Resources (CNQ) and ConocoPhillips (COP). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Canadian Natural Resources (CNQ) and ConocoPhillips (COP). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
Total Return (1Y)	56.47%	62.02%
Total Return (3Y, Annualized)	19.27%	9.29%
Total Return (5Y, Annualized)	23.01%	16.40%

Risk Profile

Drawdown History

CNQ

COP

GSPC

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Canadian Natural Resources (CNQ) and ConocoPhillips (COP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
Volatility (1Y, Annualized)	32.07%	31.63%
Beta (5Y)	0.48	0.19
Max Drawdown (5Y)	-35.85%	-36.30%
Avg. Volume (3M)	6.32M	6.60M

Risk-Adjusted Performance

Risk-Return Positioning

CNQ and COP are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
Sharpe Ratio (1Y)	1.63	1.83
Sortino Ratio (1Y)	2.31	2.70

Profitability

ROE (TTM)

Canadian Natural Resources (CNQ) at 32.39% sits in the top ROE quartile, while ConocoPhillips (COP) at 17.66% is closer to the peer norm — stronger capital efficiency for CNQ.

CNQ

Energy industry group

32.39%

Max: 53.85%
CNQ: 32.39%
Q3: 24.79%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

COP

Energy industry group

17.66%

Max: 53.85%
Q3: 24.79%
COP: 17.66%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Canadian Natural Resources (CNQ) at 29.51% retains a top-quartile share of revenue as profit, ahead of ConocoPhillips (COP) at 16.76%, which keeps about the industry-typical share.

CNQ

Energy industry group

29.51%

Max: 56.92%
CNQ: 29.51%
Q3: 22.92%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

COP

Energy industry group

16.76%

Max: 56.92%
Q3: 22.92%
COP: 16.76%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Both Canadian Natural Resources (CNQ) at 32.24% and ConocoPhillips (COP) at 30.05% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

CNQ

Energy industry group

32.24%

Max: 71.31%
Q3: 33.75%
CNQ: 32.24%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

COP

Energy industry group

30.05%

Max: 71.31%
Q3: 33.75%
COP: 30.05%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
ROE (TTM)	32.39%	17.66%
ROA (TTM)	9.97%	8.98%
Net Margin (TTM)	29.51%	16.76%
Operating Margin (TTM)	32.24%	30.05%
Gross Margin (TTM)	52.92%	49.01%

Growth

Revenue Growth

Both Canadian Natural Resources (CNQ) at 6.40% and ConocoPhillips (COP) at 7.67% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their Revenue Growth across different time periods.

EPS Growth

Canadian Natural Resources (CNQ) at 81.05% sits in the top EPS growth quartile, while ConocoPhillips (COP) at -18.69% is closer to the peer norm — faster per-share earnings growth for CNQ.

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
Revenue Growth (YoY)	6.40%	7.67%
Revenue Growth (3Y CAGR)	-3.75%	-9.11%
EPS Growth (YoY)	81.05%	-18.69%
EPS Growth (3Y CAGR)	2.73%	-24.18%

Financial Strength

Current Ratio (MRQ)

Both Canadian Natural Resources (CNQ) at 0.99 and ConocoPhillips (COP) at 1.52 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CNQ

Energy industry group

0.99

Max: 3.64
Q3: 2.21
Median: 1.41
CNQ: 0.99
Q1: 0.88
Min: 0.24

COP

Energy industry group

1.52

Max: 3.64
Q3: 2.21
COP: 1.52
Median: 1.41
Q1: 0.88
Min: 0.24

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Both Canadian Natural Resources (CNQ) at 0.42 and ConocoPhillips (COP) at 0.35 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNQ

Energy industry group

0.42

Max: 1.75
Q3: 0.93
Median: 0.54
CNQ: 0.42
Q1: 0.30
Min: 0.00

COP

Energy industry group

0.35

Max: 1.75
Q3: 0.93
Median: 0.54
COP: 0.35
Q1: 0.30
Min: 0.00

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their debt-to-equity ratio against the Energy industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
Current Ratio (MRQ)	0.99	1.52
Debt / Equity (MRQ)	0.42	0.35
Net Debt / EBITDA	0.67	0.45

Dividends

Dividend Yield (TTM)

Canadian Natural Resources (CNQ) at 5.03% delivers top-quartile income for its industry, while ConocoPhillips (COP) at 2.48% pays a more typical yield — both are credible income propositions, CNQ the richer one.

CNQ

Energy industry group

5.03%

Max: 8.57%
CNQ: 5.03%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

COP

Energy industry group

2.48%

Max: 8.57%
Q3: 3.58%
COP: 2.48%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Both Canadian Natural Resources (CNQ) at 36.37% and ConocoPhillips (COP) at 35.41% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

CNQ

Energy industry group

36.37%

Max: 133.24%
Q3: 53.31%
CNQ: 36.37%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

COP

Energy industry group

35.41%

Max: 133.24%
Q3: 53.31%
COP: 35.41%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
Dividend Yield (TTM)	5.03%	2.48%
Dividend Payout Ratio (TTM)	36.37%	35.41%

Valuation

P/E Ratio (TTM)

Both Canadian Natural Resources (CNQ) at 9.95 and ConocoPhillips (COP) at 14.36 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

CNQ

Energy industry group

9.95

Max: 39.54
Q3: 21.72
Median: 12.19
CNQ: 9.95
Q1: 7.71
Min: 2.99

COP

Energy industry group

14.36

Max: 39.54
Q3: 21.72
COP: 14.36
Median: 12.19
Q1: 7.71
Min: 2.99

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Canadian Natural Resources (CNQ) at 2.06 and ConocoPhillips (COP) at 2.34 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CNQ

Energy industry group

2.06

Max: 5.40
Q3: 2.85
CNQ: 2.06
Median: 1.69
Q1: 0.88
Min: 0.00

COP

Energy industry group

2.34

Max: 5.40
Q3: 2.85
COP: 2.34
Median: 1.69
Q1: 0.88
Min: 0.00

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their P/S ratio against the Energy industry group benchmark.

P/B Ratio (MRQ)

Both Canadian Natural Resources (CNQ) at 2.97 and ConocoPhillips (COP) at 2.44 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CNQ

Energy industry group

2.97

Max: 4.21
CNQ: 2.97
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

COP

Energy industry group

2.44

Max: 4.21
COP: 2.44
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

Canadian Natural Resources (CNQ) vs. ConocoPhillips (COP): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for Canadian Natural Resources (CNQ) and ConocoPhillips (COP)
Metric	CNQ	COP
P/E Ratio (TTM)	9.95	14.36
P/S Ratio (TTM)	2.06	2.34
P/B Ratio (MRQ)	2.97	2.44
Free Cash Flow Yield (TTM)	12.33%	7.12%