FY2024 EPS Estimates for Canadian Natural Resources Limited (TSE:CNQ) Boosted by Analyst

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Canadian Natural Resources in a research report issued on Tuesday, June 18th. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $4.43 per share for the year, up from their previous estimate of $3.62. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $6.86 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $1.15 EPS and Q4 2025 earnings at $0.81 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C$1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.40 by C($0.03). Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%. The company had revenue of C$8.24 billion for the quarter, compared to the consensus estimate of C$8.17 billion.

A number of other research firms have also commented on CNQ. Royal Bank of Canada upped their price target on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a report on Tuesday, April 9th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and increased their target price for the stock from C$104.00 to C$110.00 in a report on Tuesday, April 23rd. Stifel Nicolaus boosted their price target on Canadian Natural Resources from C$110.00 to C$126.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. National Bankshares upped their price target on Canadian Natural Resources from C$94.00 to C$120.00 and gave the company a “sector perform” rating in a research report on Friday, April 19th. Finally, TD Securities lifted their price objective on Canadian Natural Resources from C$112.00 to C$117.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average target price of C$104.88.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$47.20 on Friday. The company has a debt-to-equity ratio of 31.83, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a fifty-two week low of C$34.97 and a fifty-two week high of C$56.49. The business has a 50 day moving average price of C$93.64 and a 200-day moving average price of C$92.15. The firm has a market cap of C$50.50 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 0.53 and a beta of 1.97.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 8.90%. The ex-dividend date of this dividend is Monday, June 17th. Canadian Natural Resources’s dividend payout ratio is currently 58.65%.

Insider Activity at Canadian Natural Resources

In other news, Senior Officer Scott Gerald Stauth sold 13,250 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$102.32, for a total transaction of C$1,355,779.75. In related news, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction dated Monday, May 27th. The shares were sold at an average price of C$104.80, for a total value of C$236,012.98. Also, Senior Officer Scott Gerald Stauth sold 13,250 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$102.32, for a total transaction of C$1,355,779.75. Insiders sold a total of 22,167 shares of company stock valued at $2,054,746 in the last three months. Company insiders own 2.21% 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).