Canadian Natural Resources Limited to Post FY2024 Earnings of $3.31 Per Share, Zacks Research Forecasts (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Stock analysts at Zacks Research boosted their FY2024 earnings estimates for Canadian Natural Resources in a research report issued to clients and investors on Tuesday, June 18th. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will post earnings of $3.31 per share for the year, up from their previous estimate of $2.71. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.63 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $0.86 EPS and Q4 2025 earnings at $0.61 EPS.

Other equities analysts have also issued research reports about the company. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of $47.00.

Canadian Natural Resources Stock Down 1.5 %

CNQ stock opened at $34.46 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61. Canadian Natural Resources has a 1-year low of $26.48 and a 1-year high of $41.29. The stock has a market capitalization of $73.82 billion, a P/E ratio of 13.73 and a beta of 1.50. The business has a fifty day moving average price of $37.30 and a 200-day moving average price of $35.07.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.01 billion.

Canadian Natural Resources Increases 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 dividend of $0.777 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.77. The ex-dividend date is Monday, June 17th. This represents a $3.11 dividend on an annualized basis and a dividend yield of 9.02%. Canadian Natural Resources’s payout ratio is presently 60.56%.

Hedge Funds Weigh In On Canadian Natural Resources

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in Canadian Natural Resources by 9.6% in the first quarter. Fifth Third Bancorp now owns 1,558 shares of the oil and gas producer’s stock worth $119,000 after buying an additional 137 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in Canadian Natural Resources by 39.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock worth $40,000 after acquiring an additional 173 shares during the period. Clarius Group LLC raised its stake in Canadian Natural Resources by 3.3% during the 4th quarter. Clarius Group LLC now owns 5,600 shares of the oil and gas producer’s stock worth $367,000 after acquiring an additional 179 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Canadian Natural Resources by 21.2% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer’s stock valued at $70,000 after purchasing an additional 187 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Canadian Natural Resources by 0.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock worth $1,662,000 after purchasing an additional 204 shares during the period. 74.03% of the stock is owned by 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).