Zacks Research Has Bullish Estimate for CNQ FY2024 Earnings

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Equities research analysts at Zacks Research raised their FY2024 earnings per share estimates for 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 estimate of $2.44. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.47 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.

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

Canadian Natural Resources Trading Down 0.2 %

Shares of CNQ opened at $31.48 on Thursday. The stock has a market cap of $66.21 billion, a PE ratio of 12.23 and a beta of 1.46. Canadian Natural Resources has a 1 year low of $29.23 and a 1 year high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $32.39 and a 200-day simple moving average of $34.09.

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

Institutional Trading of Canadian Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Moloney Securities Asset Management LLC increased its holdings in shares of Canadian Natural Resources by 5.4% in the third quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer’s stock valued at $242,000 after purchasing an additional 376 shares during the last quarter. Measured Wealth Private Client Group LLC boosted its position in Canadian Natural Resources by 4.1% in the third quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer’s stock valued at $337,000 after buying an additional 404 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Canadian Natural Resources by 4.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares during the last quarter. Pitcairn Co. grew its holdings in shares of Canadian Natural Resources by 1.3% during the third quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after purchasing an additional 475 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

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).