Equities Analysts Issue Forecasts for CNQ FY2024 Earnings

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Investment analysts at Zacks Research boosted their FY2024 EPS estimates for Canadian Natural Resources in a report issued on Wednesday, November 20th. Zacks Research analyst T. Saha now expects that the oil and gas producer will earn $2.44 per share for the year, up from their prior forecast of $2.36. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.47 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $0.54 EPS, Q3 2026 earnings at $0.50 EPS and FY2026 earnings at $2.19 EPS.

Other equities research analysts also recently issued reports about the stock. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and an average target price of $51.00.

Canadian Natural Resources Trading Down 2.5 %

CNQ opened at $33.19 on Monday. The company’s 50 day moving average is $34.63 and its 200-day moving average is $35.26. Canadian Natural Resources has a 1-year low of $29.45 and a 1-year high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $70.04 billion, a P/E ratio of 12.89 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The firm had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the prior year, the company posted $0.96 earnings per share.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.68%. Canadian Natural Resources’s dividend payout ratio is 60.58%.

Institutional Trading of Canadian Natural Resources

A number of institutional investors and hedge funds have recently modified their holdings of CNQ. Park Place Capital Corp increased its position in Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares during the last quarter. RFP Financial Group LLC boosted its holdings in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 352 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 364 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian Natural Resources by 91.6% in the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 415 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

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).