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

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Investment analysts at Zacks Research lowered their FY2024 earnings estimates for shares of Canadian Natural Resources in a research note issued on Thursday, September 19th. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will earn $2.45 per share for the year, down from their previous estimate of $2.46. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.49 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.68 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.59 EPS, FY2025 earnings at $2.87 EPS, Q2 2026 earnings at $0.50 EPS and FY2026 earnings at $2.53 EPS.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The firm had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the company earned $0.43 EPS.

A number of other equities research analysts have also recently commented on the stock. Wolfe Research began coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Trading Up 2.4 %

NYSE:CNQ opened at $34.61 on Monday. Canadian Natural Resources has a 52 week low of $29.45 and a 52 week high of $41.29. The firm has a 50 day moving average of $34.69 and a 200 day moving average of $36.39. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $73.65 billion, a price-to-earnings ratio of 13.79 and a beta of 1.51.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.384 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.44%. Canadian Natural Resources’s payout ratio is currently 61.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Place Capital Corp increased its holdings 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 valued at $25,000 after buying an additional 358 shares in the last quarter. RFP Financial Group LLC increased its holdings in 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 valued at $25,000 after buying an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in 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 valued at $26,000 after buying an additional 364 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in 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 valued at $31,000 after buying an additional 415 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 74.03% 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).