FY2027 EPS Estimates for TSE:CNQ Raised by Analyst

Key Points

• Zacks Research has increased their FY2027 EPS forecast for Canadian Natural Resources from $3.45 to $3.52, while the consensus estimate stands at $3.83 per share.
• Amid various analysts' reports, Desjardins reduced their target price to C$49.00, while CIBC raised it to C$62.00, indicating varying perspectives on the stock's future performance.
• Recent insider selling activities show substantial transactions, including a Senior Officer selling 60,000 shares for about C$2.63 million, reflecting a potential lack of confidence among some insiders.

Canadian Natural Resources Limited (TSE:CNQ - Free Report) NYSE: CNQ - Investment analysts at Zacks Research upped their FY2027 earnings per share (EPS) estimates for Canadian Natural Resources in a research note issued to investors on Monday, July 28th. Zacks Research analyst T. Saha now forecasts that the company will post earnings per share of $3.52 for the year, up from their prior estimate of $3.45. The consensus estimate for Canadian Natural Resources' current full-year earnings is $3.83 per share.

A number of other research firms also recently issued reports on CNQ. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating and decreased their price objective for the stock from C$52.00 to C$49.00 in a report on Wednesday, April 9th. Scotiabank raised their price objective on Canadian Natural Resources from C$50.00 to C$54.00 in a research note on Friday, July 11th. Wells Fargo & Company lifted their price target on Canadian Natural Resources from C$42.00 to C$46.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Desjardins reduced their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, CIBC boosted their price objective on Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price of C$54.42.

Canadian Natural Resources Trading Down 2.6%

TSE:CNQ traded down C$1.14 during mid-day trading on Tuesday, hitting C$42.72. The company had a trading volume of 5,344,059 shares, compared to its average volume of 13,880,499. Canadian Natural Resources has a fifty-two week low of C$34.92 and a fifty-two week high of C$52.15. The business's fifty day moving average is C$43.54 and its two-hundred day moving average is C$42.60. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The firm has a market cap of C$89.65 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.53 and a beta of 1.89.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Robin Sean Zabek sold 20,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of C$44.90, for a total value of C$898,000.00. Also, Senior Officer Devin Craig Lowe sold 20,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of C$44.76, for a total transaction of C$895,200.00. Insiders sold a total of 309,676 shares of company stock valued at $13,897,529 over the last ninety days. Corporate insiders own 4.26% of the company's stock.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company's portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.