Q2 2024 EPS Estimates for Canadian Natural Resources Limited (TSE:CNQ) Increased by Analyst

Canadian Natural Resources Limited (TSE:CNQFree Report) (NYSE:CNQ) – Stock analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for Canadian Natural Resources in a research note issued to investors on Thursday, March 21st. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $1.55 per share for the quarter, up from their prior estimate of $1.53. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $7.07 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2024 earnings at $1.87 EPS and FY2026 earnings at $8.08 EPS.

CNQ has been the topic of several other reports. Desjardins reduced their price objective on Canadian Natural Resources from C$105.00 to C$97.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Stifel Nicolaus upped their target price on Canadian Natural Resources from C$100.00 to C$110.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. ATB Capital upped their target price on Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on Canadian Natural Resources from C$94.00 to C$100.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, TD Securities upped their target price on Canadian Natural Resources from C$100.00 to C$110.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$99.65.

Read Our Latest Stock Analysis on Canadian Natural Resources

Canadian Natural Resources Trading Up 0.3 %

Shares of TSE CNQ opened at C$100.79 on Friday. The business’s 50 day moving average is C$89.49 and its two-hundred day moving average is C$88.40. The company has a debt-to-equity ratio of 31.01, a current ratio of 0.96 and a quick ratio of 0.54. Canadian Natural Resources has a 1-year low of C$69.09 and a 1-year high of C$100.89. The stock has a market capitalization of C$107.85 billion, a P/E ratio of 13.49, a PEG ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, topping the consensus estimate of C$2.14 by C$0.20. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. The company had revenue of C$9.55 billion for the quarter, compared to analysts’ expectations of C$9.04 billion.

Insider Activity

In other news, Senior Officer Trevor Wagil sold 1,126 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of C$86.33, for a total transaction of C$97,204.88. In other news, Senior Officer Trevor Wagil sold 1,126 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of C$86.33, for a total transaction of C$97,204.88. Also, Senior Officer Kyle Grayson Pisio sold 2,300 shares of the firm’s stock in a transaction on Monday, January 15th. The stock was sold at an average price of C$88.49, for a total value of C$203,527.00. In the last quarter, insiders sold 634,749 shares of company stock worth $59,381,690. Insiders own 2.23% of the company’s stock.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. Canadian Natural Resources’s dividend payout ratio is currently 51.54%.

About Canadian Natural Resources

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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).

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Earnings History and Estimates for Canadian Natural Resources (TSE:CNQ)

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