Canadian Natural Resources (CNQ) Set to Announce Earnings on Thursday

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.68 per share for the quarter.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter in the previous year, the company earned $0.43 EPS. On average, analysts expect Canadian Natural Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $35.11 on Thursday. Canadian Natural Resources has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The stock has a market cap of $74.71 billion, a P/E ratio of 13.99 and a beta of 1.50. The firm’s fifty day moving average price is $34.97 and its 200-day moving average price is $36.06.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 4.42%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 66.14%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNQ. StockNews.com cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Wolfe Research assumed coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.50.

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).