FY2029 Earnings Forecast for CNQ Issued By Raymond James

Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ - Raymond James dropped their FY2029 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a note issued to investors on Thursday, May 8th. Raymond James analyst M. Barth now expects that the oil and gas producer will post earnings per share of $3.13 for the year, down from their prior forecast of $3.35. Raymond James currently has a "Outperform" rating on the stock. The consensus estimate for Canadian Natural Resources' current full-year earnings is $2.45 per share.

Several other research firms have also recently issued reports on CNQ. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Stock Up 1.6%

CNQ stock opened at $30.53 on Monday. Canadian Natural Resources has a 52 week low of $24.65 and a 52 week high of $38.86. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $30.78. The stock has a market capitalization of $63.95 billion, a P/E ratio of 11.86 and a beta of 1.04.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the prior year, the business posted $1.37 earnings per share.

Institutional Investors Weigh In On Canadian Natural Resources

A number of large investors have recently made changes to their positions in CNQ. Barclays PLC boosted its stake in Canadian Natural Resources by 23.4% during the third quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer's stock worth $23,800,000 after buying an additional 136,107 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Canadian Natural Resources during the 3rd quarter valued at about $37,000. JTC Employer Solutions Trustee Ltd grew its holdings in shares of Canadian Natural Resources by 100.0% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 4,000 shares of the oil and gas producer's stock valued at $121,000 after purchasing an additional 2,000 shares during the period. Moody National Bank Trust Division purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $204,000. Finally, AdvisorNet Financial Inc increased its position in Canadian Natural Resources by 187.2% during the fourth quarter. AdvisorNet Financial Inc now owns 6,540 shares of the oil and gas producer's stock worth $202,000 after purchasing an additional 4,263 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.4227 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's payout ratio is currently 63.92%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

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