Canadian Natural Resources Limited to Post Q2 2024 Earnings of $1.59 Per Share, Zacks Research Forecasts (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQFree Report) (NYSE:CNQ) – Equities researchers at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a research note issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now anticipates that the company will post earnings per share of $1.59 for the quarter, up from their previous forecast of $1.54. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $7.61 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.08 EPS, Q3 2025 earnings at $2.57 EPS, Q4 2025 earnings at $1.90 EPS and FY2025 earnings at $8.43 EPS.

Other equities analysts have also recently issued reports about the company. ATB Capital lifted their price objective on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. CIBC lifted their price objective on Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada lifted their price objective on Canadian Natural Resources from C$100.00 to C$120.00 in a report on Tuesday, April 9th. BMO Capital Markets lifted their price objective on Canadian Natural Resources from C$110.00 to C$115.00 in a report on Thursday, March 28th. Finally, Jefferies Financial Group boosted their price target on Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$111.00.

View Our Latest Research Report on CNQ

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$105.43 on Thursday. The stock has a fifty day moving average price of C$99.87 and a 200 day moving average price of C$91.64. The stock has a market cap of C$112.81 billion, a PE ratio of 14.11, a P/E/G ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a 1 year low of C$69.83 and a 1 year high of C$112.99. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.14 by C$0.20. The firm had revenue of C$9.55 billion during the quarter, compared to analysts’ expectations of C$9.04 billion. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%.

Insider Activity

In other Canadian Natural Resources news, Director Stephen W. Laut acquired 414 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of C$105.70 per share, with a total value of C$43,760.71. In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. Also, Director Stephen W. Laut purchased 414 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were purchased at an average price of C$105.70 per share, with a total value of C$43,760.71. Insiders sold a total of 332,363 shares of company stock valued at $32,567,851 over the last quarter. Company insiders own 2.20% of the company’s stock.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $1.05 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $1.00. Canadian Natural Resources’s payout ratio is currently 51.54%.

About Canadian Natural Resources

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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).

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Earnings History and Estimates for Canadian Natural Resources (TSE:CNQ)

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