Research Analysts Set Expectations for Canadian Natural Resources Limited's Q2 2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ - Free Report) NYSE: CNQ - Analysts at Zacks Research dropped their Q2 2024 earnings estimates for Canadian Natural Resources in a report released on Wednesday, April 3rd. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $1.54 per share for the quarter, down from their previous forecast of $1.55. The consensus estimate for Canadian Natural Resources' current full-year earnings is $7.47 per share.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last announced its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating 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.

CNQ has been the topic of several other research reports. National Bankshares boosted their price target on shares of Canadian Natural Resources from C$90.00 to C$94.00 and gave the company a "sector perform" rating in a research report on Friday, March 1st. Desjardins dropped their price objective on shares of Canadian Natural Resources from C$105.00 to C$97.00 and set a "buy" rating on the stock in a research note on Tuesday, January 23rd. ATB Capital boosted their price objective on shares of Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 20th. Stifel Nicolaus boosted their price objective on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Canadian Natural Resources from C$94.00 to C$100.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$100.75.

Canadian Natural Resources Trading Up 1.6 %

Shares of TSE CNQ traded up C$1.79 during midday trading on Friday, hitting C$110.32. 7,808,474 shares of the company traded hands, compared to its average volume of 6,528,288. Canadian Natural Resources has a 12-month low of C$69.83 and a 12-month high of C$110.35. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96. The stock has a 50-day moving average price of C$92.93 and a 200 day moving average price of C$89.44. The firm has a market cap of C$118.04 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources Increases Dividend

The business also recently disclosed 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 3.81%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 14th. Canadian Natural Resources's payout ratio is presently 51.54%.

Insider Activity

In other news, Senior Officer Trevor Wagil sold 1,126 shares of the business's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total transaction of C$97,204.88. In other news, Senior Officer Trevor Wagil sold 1,126 shares of the business's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total transaction of C$97,204.88. Also, Director Stephen W. Laut bought 414 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 2nd. The shares were acquired at an average cost of C$105.70 per share, with a total value of C$43,760.71. Insiders sold 331,663 shares of company stock valued at $32,438,948 over the last three months. Insiders own 2.21% of the company's stock.

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).