Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ - Equities research analysts at Zacks Research lowered their Q1 2024 earnings estimates for shares of Canadian Natural Resources in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will earn $1.06 per share for the quarter, down from their previous forecast of $1.22. The consensus estimate for Canadian Natural Resources' current full-year earnings is $5.70 per share. Zacks Research also issued estimates for Canadian Natural Resources' Q2 2024 earnings at $1.20 EPS, Q3 2024 earnings at $1.57 EPS, Q4 2024 earnings at $1.49 EPS, Q1 2025 earnings at $1.38 EPS, Q2 2025 earnings at $1.60 EPS, Q1 2026 earnings at $1.35 EPS and FY2026 earnings at $5.73 EPS.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The business had revenue of $7.02 billion for the quarter, compared to the consensus estimate of $6.73 billion.
Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a "neutral" rating in a report on Thursday, January 11th. Desjardins cut Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $94.00.
Get Our Latest Analysis on Canadian Natural Resources
Canadian Natural Resources Stock Down 0.2 %
NYSE CNQ traded down $0.16 on Wednesday, hitting $76.91. 3,096,453 shares of the stock were exchanged, compared to its average volume of 3,331,527. The company has a market cap of $82.46 billion, a PE ratio of 13.88 and a beta of 1.54. The company has a 50-day moving average price of $73.20 and a 200-day moving average price of $67.55. Canadian Natural Resources has a fifty-two week low of $52.66 and a fifty-two week high of $82.58. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25.
Institutional Trading of Canadian Natural Resources
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its position in shares of Canadian Natural Resources by 993.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer's stock worth $13,535,000 after acquiring an additional 187,694 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Canadian Natural Resources by 556.7% in the fourth quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer's stock valued at $6,312,000 after purchasing an additional 81,669 shares during the period. Baskin Financial Services Inc. raised its holdings in shares of Canadian Natural Resources by 3.5% during the fourth quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer's stock valued at $30,406,000 after buying an additional 15,546 shares during the last quarter. Principal Financial Group Inc. increased its position in Canadian Natural Resources by 130.6% in the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer's stock valued at $10,292,000 after acquiring an additional 89,700 shares during the period. Finally, NewEdge Wealth LLC raised its stake in Canadian Natural Resources by 10.8% during the 4th quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer's stock valued at $29,904,000 after acquiring an additional 44,568 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Canadian Natural Resources Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.774 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 dividend on an annualized basis and a yield of 4.03%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.72. Canadian Natural Resources's dividend payout ratio (DPR) is currently 53.25%.
About Canadian Natural Resources
(
Get Free Report)
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).
See Also
Before you consider Canadian Natural Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canadian Natural Resources wasn't on the list.
While Canadian Natural Resources currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
