Zacks Research Issues Positive Outlook for TSE:CNQ Earnings

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Canadian Natural Resources in a note issued to investors on Thursday, February 13th. Zacks Research analyst T. Saha now expects that the company will post earnings of $3.40 per share for the year, up from their previous forecast of $3.37. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.40 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.60 EPS, FY2025 earnings at $2.96 EPS, FY2025 earnings at $2.96 EPS, Q1 2026 earnings at $0.84 EPS, Q1 2026 earnings at $0.84 EPS, Q2 2026 earnings at $0.66 EPS, Q2 2026 earnings at $0.66 EPS, Q3 2026 earnings at $0.73 EPS, Q3 2026 earnings at $0.73 EPS, Q4 2026 earnings at $0.87 EPS, FY2026 earnings at $3.10 EPS and FY2026 earnings at $3.10 EPS.

Several other brokerages have also recently commented on CNQ. Royal Bank of Canada lowered their price target on shares of Canadian Natural Resources from C$63.00 to C$62.00 in a research report on Tuesday, January 14th. BMO Capital Markets lowered their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research report on Friday, December 13th. Wells Fargo & Company boosted their price objective on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. TD Securities set a C$58.00 price objective on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$71.44.

Canadian Natural Resources Stock Down 1.1 %

Shares of TSE:CNQ opened at C$42.67 on Monday. Canadian Natural Resources has a one year low of C$40.63 and a one year high of C$56.49. The company has a 50 day moving average of C$44.59 and a 200-day moving average of C$46.49. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The stock has a market cap of C$89.55 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.53 and a beta of 1.89.

Insider Buying and Selling at Canadian Natural Resources

In other news, Director Stephen W. Laut sold 6,400 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of C$47.04, for a total value of C$301,056.00. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total transaction of C$818,254.00. Over the last quarter, insiders have sold 155,332 shares of company stock valued at $7,012,151. 4.26% of the stock is currently owned by corporate 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).