Brokers Offer Predictions for Canadian Natural Resources Limited’s Q2 2024 Earnings (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Analysts at Zacks Research increased their Q2 2024 earnings estimates for Canadian Natural Resources in a report issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now expects that the company will post earnings of $1.59 per share for the quarter, up from their previous forecast of $1.54. 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’ Q4 2024 earnings at $1.99 EPS, FY2024 earnings at $7.08 EPS, Q3 2025 earnings at $2.57 EPS, Q4 2025 earnings at $1.90 EPS and FY2025 earnings at $8.43 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of C$9.04 billion.

CNQ has been the subject of several other reports. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and lifted their price target for the company from C$104.00 to C$110.00 in a research note on Tuesday. TD Securities boosted their target price on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group boosted their target price on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their target price on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a research report on Monday, March 4th. Finally, Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus target price of C$111.00.

Canadian Natural Resources Trading Up 0.8 %

CNQ opened at C$106.52 on Thursday. Canadian Natural Resources has a 1-year low of C$69.83 and a 1-year high of C$112.99. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. The company has a market cap of C$113.98 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98. The company has a fifty day moving average price of C$100.72 and a two-hundred day moving average price of C$91.89.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Calvin John Bast sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$97.62, for a total transaction of C$366,058.88. In related news, Senior Officer Calvin John Bast sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$97.62, for a total transaction of C$366,058.88. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. In the last ninety days, insiders have sold 331,237 shares of company stock worth $32,470,646. 2.20% of the stock is owned by corporate insiders.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.94%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 14th. Canadian Natural Resources’s payout ratio is presently 51.54%.

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).