Zacks Research Issues Negative Outlook for TSE:CNQ Earnings

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Research analysts at Zacks Research reduced their FY2024 earnings estimates for Canadian Natural Resources in a report issued on Friday, October 18th. Zacks Research analyst T. Saha now expects that the company will post earnings of $3.25 per share for the year, down from their previous forecast of $3.34. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.80 EPS, Q3 2025 earnings at $0.71 EPS, Q1 2026 earnings at $0.86 EPS, Q3 2026 earnings at $0.67 EPS and FY2026 earnings at $3.01 EPS.

Several other equities research analysts also recently weighed in on the company. CIBC increased their price target on Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Gerdes Energy Research upped their price objective on Canadian Natural Resources from C$52.00 to C$53.00 in a research report on Tuesday, October 8th. Raymond James lifted their target price on Canadian Natural Resources from C$48.00 to C$51.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their price target on shares of Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th. Finally, National Bankshares raised their price target on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and an average price target of C$74.13.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at C$49.40 on Monday. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The company’s 50-day moving average is C$47.57 and its 200 day moving average is C$67.49. The firm has a market capitalization of C$105.22 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%.

Insider Buying and Selling

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

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is 60.97%.

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).