Zacks Research Research Analysts Raise Earnings Estimates for Canadian Natural Resources Limited (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Stock analysts at Zacks Research upped their FY2024 earnings estimates for Canadian Natural Resources in a report issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will post earnings per share of $5.32 for the year, up from their prior forecast of $5.26. 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’ Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $6.34 EPS.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data 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. The firm had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%.

Several other research analysts have also recently weighed in on the stock. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Stock Up 0.5 %

Shares of NYSE CNQ opened at $77.32 on Thursday. The stock has a market capitalization of $82.90 billion, a P/E ratio of 13.96 and a beta of 1.54. The company has a 50-day moving average price of $73.82 and a 200-day moving average price of $67.68. Canadian Natural Resources has a 1 year low of $52.66 and a 1 year high of $82.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.774 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 annualized dividend and a yield of 4.00%. Canadian Natural Resources’s payout ratio is currently 53.25%.

Institutional Trading of Canadian Natural Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its position in shares of Canadian Natural Resources by 993.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock valued at $13,535,000 after purchasing an additional 187,694 shares during the period. Cerity Partners LLC raised its position 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 position in shares of Canadian Natural Resources by 3.5% in 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 purchasing an additional 15,546 shares during the period. Principal Financial Group Inc. raised its position in shares of Canadian Natural Resources by 130.6% in the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer’s stock valued at $10,292,000 after purchasing an additional 89,700 shares during the period. Finally, NewEdge Wealth LLC raised its position in shares of Canadian Natural Resources by 10.8% in the fourth quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer’s stock valued at $29,904,000 after purchasing an additional 44,568 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

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).