Canadian Natural Resources Limited (TSE:CNQ - Free Report) NYSE: CNQ - Research analysts at Zacks Research dropped their Q1 2024 EPS estimates for shares of Canadian Natural Resources in a research report issued on Wednesday, April 3rd. Zacks Research analyst T. Saha now expects that the company will earn $1.62 per share for the quarter, down from their previous forecast of $1.69. The consensus estimate for Canadian Natural Resources' current full-year earnings is $7.36 per share. Zacks Research also issued estimates for Canadian Natural Resources' Q3 2024 earnings at $1.92 EPS, FY2024 earnings at $7.00 EPS, Q1 2025 earnings at $1.89 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.45 EPS, Q4 2025 earnings at $1.83 EPS, FY2025 earnings at $8.29 EPS, Q1 2026 earnings at $1.86 EPS and FY2026 earnings at $7.91 EPS.
Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last issued its earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. The company had revenue of C$9.55 billion for the quarter, compared to analysts' expectations of C$9.04 billion.
A number of other research firms have also recently weighed in on CNQ. Scotiabank raised their price target on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the company a "sector perform" rating in a report on Friday, March 1st. Desjardins decreased their price objective on shares of Canadian Natural Resources from C$105.00 to C$97.00 and set a "buy" rating for the company in a research report on Tuesday, January 23rd. Jefferies Financial Group decreased their price objective on shares of Canadian Natural Resources from C$98.00 to C$96.00 and set a "hold" rating for the company in a research report on Monday, December 18th. Evercore increased their price objective on shares of Canadian Natural Resources from C$90.00 to C$105.00 and gave the company an "in-line" rating in a research report on Friday, March 1st. Finally, BMO Capital Markets increased their price objective on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of "Moderate Buy" and an average price target of C$100.75.
Check Out Our Latest Stock Report on CNQ
Canadian Natural Resources Stock Up 1.0 %
Shares of TSE:CNQ traded up C$1.10 during trading on Thursday, reaching C$108.53. The stock had a trading volume of 12,399,786 shares, compared to its average volume of 6,508,816. Canadian Natural Resources has a one year low of C$69.83 and a one year high of C$108.74. The company has a market capitalization of C$116.13 billion, a P/E ratio of 14.38, a PEG ratio of 0.53 and a beta of 1.98. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. The firm's 50-day simple moving average is C$92.49 and its 200 day simple moving average is C$89.30.
Canadian Natural Resources Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.87%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 14th. Canadian Natural Resources's payout ratio is 51.54%.
Insider Activity
In other news, Director Stephen W. Laut bought 414 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average cost of C$105.70 per share, with a total value of C$43,760.71. In related news, Senior Officer Trevor Wagil sold 1,126 shares of Canadian Natural Resources stock in a transaction on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total value of C$97,204.88. Also, Director Stephen W. Laut purchased 414 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The stock was bought at an average cost of C$105.70 per share, for a total transaction of C$43,760.71. Insiders sold a total of 327,999 shares of company stock valued at $32,308,529 in the last three months. 2.21% of the stock is currently owned by corporate insiders.
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).
Featured Articles
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 "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
