Canadian Natural Resources Limited to Post Q2 2024 Earnings of $0.85 Per Share, Zacks Research Forecasts (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Zacks Research increased their Q2 2024 EPS estimates for shares of Canadian Natural Resources in a report issued on Tuesday, June 18th. Zacks Research analyst T. Saha now anticipates that the company will earn $0.85 per share for the quarter, up from their previous forecast of $0.82. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $6.86 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2024 earnings at $1.09 EPS, Q4 2024 earnings at $1.12 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.27 EPS, FY2025 earnings at $4.30 EPS, Q1 2026 earnings at $1.07 EPS and FY2026 earnings at $3.79 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Thursday, May 2nd. The company reported C$1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.40 by C($0.03). Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%. The firm had revenue of C$8.24 billion for the quarter, compared to analyst estimates of C$8.17 billion.

Several other research firms have also commented on CNQ. BMO Capital Markets boosted their price objective on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research report on Thursday, March 28th. CIBC lifted their target price on Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. boosted their price target on Canadian Natural Resources from C$102.00 to C$106.00 in a research note on Monday, March 4th. Jefferies Financial Group boosted their price objective on Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Finally, Raymond James lowered their price target on Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$104.88.

Canadian Natural Resources Stock Down 0.1 %

CNQ stock opened at C$47.23 on Wednesday. The company’s 50 day moving average is C$96.14 and its two-hundred day moving average is C$92.76. The stock has a market cap of C$50.54 billion, a P/E ratio of 6.93, a PEG ratio of 0.53 and a beta of 1.97. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$56.49. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 31.83.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Scott Gerald Stauth sold 13,250 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$102.32, for a total value of C$1,355,779.75. In other Canadian Natural Resources news, Senior Officer Scott Gerald Stauth sold 13,250 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$102.32, for a total transaction of C$1,355,779.75. Also, Senior Officer Erin Louise Lunn sold 3,664 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total value of C$130,419.35. In the last quarter, insiders have sold 22,167 shares of company stock worth $2,054,746. Insiders own 2.21% of the company’s stock.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.20 annualized dividend and a yield of 8.89%. Canadian Natural Resources’s dividend payout ratio is presently 58.65%.

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).