Equities analysts expect that Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) will report sales of $4.60 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Canadian Natural Resources’ earnings, with the lowest sales estimate coming in at $4.41 billion and the highest estimate coming in at $4.79 billion. Canadian Natural Resources reported sales of $4.51 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The firm is scheduled to report its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Canadian Natural Resources will report full year sales of $17.80 billion for the current year, with estimates ranging from $17.13 billion to $18.48 billion. For the next fiscal year, analysts expect that the firm will report sales of $18.40 billion, with estimates ranging from $17.68 billion to $19.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the company earned $1.04 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNQ. Vanguard Group Inc. grew its stake in Canadian Natural Resources by 1.7% in the second quarter. Vanguard Group Inc. now owns 35,109,595 shares of the oil and gas producer’s stock valued at $946,906,000 after acquiring an additional 582,768 shares during the period. TD Asset Management Inc. grew its stake in Canadian Natural Resources by 1.8% in the second quarter. TD Asset Management Inc. now owns 27,403,837 shares of the oil and gas producer’s stock valued at $740,486,000 after acquiring an additional 473,090 shares during the period. Beutel Goodman & Co Ltd. grew its stake in Canadian Natural Resources by 1.6% in the second quarter. Beutel Goodman & Co Ltd. now owns 23,618,535 shares of the oil and gas producer’s stock valued at $636,818,000 after acquiring an additional 376,085 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Canadian Natural Resources by 23.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,000,000 shares of the oil and gas producer’s stock valued at $494,345,000 after acquiring an additional 3,455,000 shares during the period. Finally, Letko Brosseau & Associates Inc. grew its stake in Canadian Natural Resources by 0.4% in the second quarter. Letko Brosseau & Associates Inc. now owns 14,907,844 shares of the oil and gas producer’s stock valued at $402,828,000 after acquiring an additional 66,697 shares during the period. 65.34% of the stock is owned by institutional investors and hedge funds.
Shares of CNQ traded up $0.13 during mid-day trading on Thursday, reaching $23.37. 1,481,728 shares of the company were exchanged, compared to its average volume of 2,842,266. Canadian Natural Resources has a 52 week low of $21.85 and a 52 week high of $35.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. The stock has a market capitalization of $28.19 billion, a PE ratio of 10.87, a PEG ratio of 1.39 and a beta of 1.13. The business has a 50 day simple moving average of $25.64 and a two-hundred day simple moving average of $27.28.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.284 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.14 annualized dividend and a yield of 4.86%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 51.63%.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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