Zacks Research Comments on Canadian Natural Resources Limited’s FY2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities researchers at Zacks Research boosted their FY2024 earnings estimates for shares of Canadian Natural Resources in a note issued to investors on Tuesday, June 18th. Zacks Research analyst T. Saha now expects that the company will post earnings per share of $4.43 for the year, up from their previous forecast of $3.62. 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 2025 earnings at $1.15 EPS and Q4 2025 earnings at $0.81 EPS.

Several other research firms have also recently commented on CNQ. JPMorgan Chase & Co. boosted their price objective on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a research report on Monday, March 4th. Scotiabank reduced their price objective on Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. TD Securities lifted their target price on Canadian Natural Resources from C$112.00 to C$117.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. UBS Group upped their price target on Canadian Natural Resources from C$113.00 to C$124.00 in a research report on Tuesday, April 9th. Finally, CIBC lifted their price objective on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$104.88.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$47.88 on Friday. The firm has a market cap of C$51.23 billion, a P/E ratio of 7.02, a PEG ratio of 0.53 and a beta of 1.97. Canadian Natural Resources has a twelve month low of C$34.97 and a twelve month high of C$56.49. The company has a debt-to-equity ratio of 31.83, a quick ratio of 0.54 and a current ratio of 0.88. The firm’s 50 day moving average price is C$94.88 and its two-hundred day moving average price is C$92.45.

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 for the quarter, missing the consensus estimate of C$1.40 by C($0.03). Canadian Natural Resources had a net margin of 20.86% and a return on equity of 19.01%. The business had revenue of C$8.24 billion for the quarter, compared to the consensus estimate of C$8.17 billion.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a $1.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 8.77%. Canadian Natural Resources’s payout ratio is 58.65%.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Erin Louise Lunn sold 3,664 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$35.59, for a total value of C$130,419.35. In other news, Senior Officer Scott Gerald Stauth sold 13,250 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of C$102.32, for a total value 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 three months, insiders sold 22,167 shares of company stock worth $2,054,746. 2.21% of the stock is owned by company insiders.

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).