Zacks Research Has Negative Outlook of TSE:CNQ Q4 Earnings

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities researchers at Zacks Research decreased their Q4 2024 earnings estimates for Canadian Natural Resources in a report released on Wednesday, November 20th. Zacks Research analyst T. Saha now expects that the company will earn $0.79 per share for the quarter, down from their prior forecast of $0.80. 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’ Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $2.78 EPS, Q1 2026 earnings at $0.79 EPS, Q2 2026 earnings at $0.63 EPS and Q3 2026 earnings at $0.66 EPS.

A number of other analysts have also recently weighed in on CNQ. 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. Gerdes Energy Research boosted their price objective on shares of Canadian Natural Resources from C$53.00 to C$55.00 in a research note on Friday, November 1st. Jefferies Financial Group lifted their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a research note on Friday, October 11th. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, ATB Capital lifted their price objective on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$74.31.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$48.71 on Friday. Canadian Natural Resources has a 1 year low of C$40.02 and a 1 year high of C$56.49. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. The stock has a market capitalization of C$103.75 billion, a PE ratio of 13.88, a PEG ratio of 0.53 and a beta of 1.89. The stock has a 50-day simple moving average of C$47.44 and a 200-day simple moving average of C$58.53.

Canadian Natural Resources Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 annualized dividend and a yield of 4.31%. Canadian Natural Resources’s payout ratio is presently 60.97%.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$48.70, for a total transaction of C$97,405.40. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. Insiders have sold 16,422 shares of company stock worth $785,328 in the last ninety days. Insiders own 4.26% of the company’s stock.

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).