What is Raymond James’ Forecast for TSE:CNQ FY2024 Earnings?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Research analysts at Raymond James lifted their FY2024 earnings estimates for Canadian Natural Resources in a note issued to investors on Thursday, October 31st. Raymond James analyst M. Barth now expects that the company will post earnings per share of $3.43 for the year, up from their previous estimate of $3.39. Raymond James has a “Market Perform” rating and a $51.00 price target on the stock. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share.

CNQ has been the subject of several other reports. Gerdes Energy Research boosted their target price on shares of Canadian Natural Resources from C$53.00 to C$55.00 in a research note on Friday, November 1st. ATB Capital increased their target price on shares of Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. BMO Capital Markets increased their price target on shares of Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Wolfe Research raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$56.00 to C$59.00 in a report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$74.31.

Canadian Natural Resources Trading Down 0.1 %

TSE:CNQ opened at C$47.59 on Monday. The firm has a 50-day simple moving average of C$47.32 and a 200-day simple moving average of C$63.78. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49. The firm has a market cap of C$101.37 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.53 and a beta of 1.89.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 60.97%.

Insider Activity at Canadian Natural Resources

In other news, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. In related news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. 4.26% of the stock is owned by insiders.

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).