What is Zacks Research’s Estimate for CNQ FY2024 Earnings?

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Zacks Research raised their FY2024 earnings estimates for Canadian Natural Resources in a research note issued on Wednesday, November 20th. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will post earnings per share of $2.44 for the year, up from their prior forecast of $2.36. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.44 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $0.54 EPS, Q3 2026 earnings at $0.50 EPS and FY2026 earnings at $2.19 EPS.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the business posted $0.96 earnings per share.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.00.

Canadian Natural Resources Stock Up 0.8 %

Shares of NYSE CNQ opened at $34.84 on Monday. The firm has a market cap of $73.53 billion, a P/E ratio of 13.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources has a 1 year low of $29.45 and a 1 year high of $41.29. The firm’s 50 day moving average price is $34.59 and its 200 day moving average price is $35.33.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a dividend of $0.388 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.45%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 64.59%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Park Place Capital Corp raised its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. RFP Financial Group LLC increased its holdings in shares of Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares during the period. Sugarloaf Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 364 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 490 shares during the period. Finally, Bruce G. Allen Investments LLC grew its position in Canadian Natural Resources by 91.6% in the 2nd 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. 74.03% of the stock is currently owned by institutional investors.

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).