Zacks Research Has Bullish Estimate for CNQ FY2024 Earnings

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Canadian Natural Resources in a report released on Tuesday, January 14th. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will earn $2.47 per share for the year, up from their prior forecast of $2.44. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.42 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.62 EPS, Q3 2025 earnings at $0.56 EPS, Q2 2026 earnings at $0.49 EPS and Q3 2026 earnings at $0.52 EPS.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the company posted $0.96 earnings per share.

Separately, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Canadian Natural Resources Trading Up 1.0 %

Canadian Natural Resources stock opened at $31.11 on Thursday. Canadian Natural Resources has a 52-week low of $29.23 and a 52-week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $65.44 billion, a price-to-earnings ratio of 12.08 and a beta of 1.46. The firm has a 50-day moving average price of $32.24 and a two-hundred day moving average price of $34.05.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNQ. Continuum Advisory LLC lifted its holdings in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 490 shares during the period. Coastline Trust Co bought a new stake in shares of Canadian Natural Resources during the 3rd quarter worth about $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter worth approximately $37,000. Sound Income Strategies LLC acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Canadian Natural Resources by 58.4% in the third quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock valued at $48,000 after acquiring an additional 528 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

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).