Canadian Natural says considering monetizing royalty income from freehold lands Canadian Natural (CNQ) says looking at possibility of monetizing royalty income from freehold lands, says possibilities for monetizing royalties include direct sale or forming a separate company. Says royalty income stream from its properties and those acquired from Devon Energy (DVN) will be around C$140M-C$150M this year. Comments made on the Q1 earnings conference call.
Devon Energy upgraded to Accumulate from Neutral at Global Hunter Global Hunter upgraded Devon Energy to Accumulate based on Permian execution, favorable risk/reward, and the potential drop-down of its Canadian pipeline assets into its MLP. Price target lowered to $68 from $80 based on based on a lower commodity price outlook.