Brokers Issue Forecasts for Canadian Natural Resources Limited’s Q1 2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Stock analysts at Zacks Research dropped their Q1 2024 earnings estimates for shares of Canadian Natural Resources in a research note issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now expects that the company will post earnings of $1.41 per share for the quarter, down from their prior forecast of $1.62. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $7.61 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2024 earnings at $2.09 EPS, Q1 2025 earnings at $1.84 EPS, Q1 2026 earnings at $1.78 EPS and FY2026 earnings at $7.59 EPS.

CNQ has been the subject of a number of other reports. Royal Bank of Canada boosted their price target on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a research report on Tuesday, April 9th. CIBC boosted their price target on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the company an “outperform” rating in a research report on Monday. ATB Capital boosted their price target on shares of Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and boosted their price target for the company from C$104.00 to C$110.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a research report on Monday, March 4th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus price target of C$111.00.

Canadian Natural Resources Trading Up 0.1 %

Shares of CNQ stock opened at C$105.26 on Wednesday. The company’s fifty day simple moving average is C$99.39 and its two-hundred day simple moving average is C$91.54. The stock has a market capitalization of C$112.63 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.53 and a beta of 1.98. 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$69.83 and a 1 year high of C$112.99.

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

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $1.05 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 3.99%. Canadian Natural Resources’s payout ratio is 51.54%.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total transaction of C$332,430.00. In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total transaction of C$332,430.00. Also, Senior Officer Trevor Wagil sold 1,126 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of C$86.33, for a total transaction of C$97,204.88. Insiders sold a total of 332,363 shares of company stock worth $32,567,851 over the last three months. Company insiders own 2.20% of the company’s stock.

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).