FY2024 EPS Estimates for Canadian Natural Resources Limited (NYSE:CNQ) Lowered by Zacks Research

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Canadian Natural Resources in a report issued on Thursday, September 19th. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will post earnings of $2.45 per share for the year, down from their previous estimate of $2.46. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.49 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.68 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.59 EPS, FY2025 earnings at $2.87 EPS, Q2 2026 earnings at $0.50 EPS and FY2026 earnings at $2.53 EPS.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced 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 company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the company earned $0.43 EPS.

Several other analysts have also issued reports on CNQ. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Canadian Natural Resources Stock Down 1.1 %

NYSE:CNQ opened at $33.40 on Monday. Canadian Natural Resources has a twelve month low of $29.45 and a twelve month high of $41.29. The firm has a market capitalization of $71.07 billion, a price-to-earnings ratio of 13.31 and a beta of 1.51. 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’s 50 day moving average price is $34.78 and its two-hundred day moving average price is $36.42.

Canadian Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.60%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its position in Canadian Natural Resources by 0.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock worth $1,662,000 after buying an additional 204 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 245 shares during the period. Cloverfields Capital Group LP raised its stake in Canadian Natural Resources by 0.8% in the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock valued at $2,444,000 after purchasing an additional 253 shares in the last quarter. Naples Global Advisors LLC lifted its position in Canadian Natural Resources by 4.5% during the first quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock worth $494,000 after purchasing an additional 277 shares during the period. Finally, Burgundy Asset Management Ltd. grew its stake in Canadian Natural Resources by 1.1% during the first quarter. Burgundy Asset Management Ltd. now owns 29,908 shares of the oil and gas producer’s stock worth $2,282,000 after buying an additional 339 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).