Zacks Research Issues Pessimistic Forecast for CNQ Earnings

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Research analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Canadian Natural Resources in a report issued on Friday, October 18th. Zacks Research analyst T. Saha now expects that the oil and gas producer will post earnings per share of $2.36 for the year, down from their prior estimate of $2.45. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.50 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.58 EPS, Q3 2025 earnings at $0.51 EPS, Q1 2026 earnings at $0.62 EPS, Q2 2026 earnings at $0.48 EPS and Q3 2026 earnings at $0.49 EPS.

CNQ has been the topic of several other reports. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Wolfe Research began coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $35.45 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market cap of $75.43 billion, a price-to-earnings ratio of 14.12 and a beta of 1.50. Canadian Natural Resources has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The business has a fifty day moving average of $34.99 and a 200-day moving average of $36.06.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The firm had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the business posted $0.43 EPS.

Institutional Trading of Canadian Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of Canadian Natural Resources during the 3rd quarter valued at $7,460,000. Wallington Asset Management LLC boosted its stake in shares of Canadian Natural Resources by 5.0% in the third quarter. Wallington Asset Management LLC now owns 13,025 shares of the oil and gas producer’s stock valued at $433,000 after purchasing an additional 625 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Canadian Natural Resources by 1.1% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 614,256 shares of the oil and gas producer’s stock worth $20,399,000 after buying an additional 6,890 shares in the last quarter. Greenleaf Trust purchased a new position in Canadian Natural Resources in the 3rd quarter valued at about $207,000. Finally, Signaturefd LLC boosted its stake in shares of Canadian Natural Resources by 1.9% during the 3rd quarter. Signaturefd LLC now owns 43,334 shares of the oil and gas producer’s stock valued at $1,439,000 after buying an additional 811 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

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 represents a $1.55 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s payout ratio is 66.14%.

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).