Zacks Research Analysts Boost Earnings Estimates for Canadian Natural Resources Limited (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a research report issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will earn $5.32 per share for the year, up from their prior forecast of $5.26. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $5.71 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $6.34 EPS.

CNQ has been the topic of several other reports. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Stock Up 0.8 %

CNQ opened at $77.95 on Thursday. Canadian Natural Resources has a 12 month low of $52.66 and a 12 month high of $82.58. The business has a 50-day moving average of $74.12 and a two-hundred day moving average of $67.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market capitalization of $83.57 billion, a price-to-earnings ratio of 14.07 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The firm had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion.

Institutional Investors Weigh In On Canadian Natural Resources

Several institutional investors have recently bought and sold shares of the business. K.J. Harrison & Partners Inc lifted its holdings in shares of Canadian Natural Resources by 10.5% during the 1st quarter. K.J. Harrison & Partners Inc now owns 162,468 shares of the oil and gas producer’s stock valued at $12,390,000 after acquiring an additional 15,386 shares in the last quarter. Triasima Portfolio Management inc. lifted its stake in shares of Canadian Natural Resources by 0.3% during the first quarter. Triasima Portfolio Management inc. now owns 755,202 shares of the oil and gas producer’s stock worth $57,610,000 after purchasing an additional 2,155 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Canadian Natural Resources by 873.6% in the first quarter. UMB Bank n.a. now owns 1,178 shares of the oil and gas producer’s stock worth $90,000 after buying an additional 1,057 shares during the period. LifeSteps Financial Inc. purchased a new stake in shares of Canadian Natural Resources in the first quarter worth about $46,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Canadian Natural Resources in the first quarter valued at about $37,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.774 per share. This represents a $3.10 dividend on an annualized basis and a yield of 3.97%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s payout ratio is 53.25%.

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).