Canadian Natural Resources Ltd. CNQ said that it expects to shell out roughly C$4.3 billion in capital expenditure this year, up nearly 23% from 2021 when the company is estimated to have spent about C$3.5 billion on the same. Canadian Natural’s targeted outflow for 2022 is made up of C$3.6 billion of base capital and C$0.7 billion of strategic growth capital. The increased year-over-year budget comes due to the continuing recovery of oil and gas prices from pandemic-led lows and a better macroeconomic outlook.The energy major, Canada’s biggest oil and natural gas producer, expects the production in 2022 to be between 1.27 million and 1.32 million barrels of oil equivalent per day (boepd) compared with the 2021 guidance range of 1.19 million-1.26 million boepd. By 2025, CNQ aims to raise the annual volume by roughly 63,000 barrels per day through its strategic growth capital. According to Canadian Natural’s president, Tim McKay, the company’s output mix in 2022 is likely to comprise approximately 46% light and synthetic crude oil, 28% heavy crude oil and 26% natural gas at the midpoint of the production range.Established in 1973, Calgary-based Canadian Natural Resources Limited is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas.Canadian Natural currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector include TotalEnergies TTE, Murphy USA MUSA and REX American Resources REX, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for TotalEnergies’ 2022 earnings is pegged at $7.26 per share, which is about 10.6% higher than the year-ago estimate of $6.56 per share. The Zacks Consensus Estimate for TotalEnergies' 2022 earnings has been revised upward four times in the past 60 days.TotalEnergies beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being 12.9%. TTE’s shares have rallied around 23.6% in a year.Murphy USA is valued at around $5 billion. The Zacks Consensus Estimate for Murphy USA’s 2022 earnings has been revised 17.2% upward over the past 60 days from 9.45 to 11.08.Murphy USA beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, the average being 20.9%. MUSA stock has rallied around 55.4% in a year.REX American’s stock price has increased about 23.5% in the past year. REX American beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 93.9%.The Zacks Consensus Estimate for REX’s 2022 earnings is fixed at $9.30 per share, with an increase of 12.4% from the projected year-ago earnings of $8.27. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report Murphy USA Inc. (MUSA): Free Stock Analysis Report REX American Resources Corporation (REX): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis Report To read this article on Zacks.com click here.