Equities Analysts Offer Predictions for Canadian Natural Resources Limited’s FY2024 Earnings (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Stock analysts at Zacks Research raised their FY2024 earnings per share estimates for Canadian Natural Resources in a report released on Tuesday, April 23rd. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will post earnings per share of $5.32 for the year, up from their previous forecast of $5.26. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $5.70 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $6.34 EPS.

Several other equities research analysts also recently commented on the company. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Trading Down 0.2 %

Shares of CNQ stock opened at $76.95 on Thursday. The company has a market cap of $82.50 billion, a P/E ratio of 13.89 and a beta of 1.54. The stock has a 50 day simple moving average of $73.54 and a two-hundred day simple moving average of $67.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.96. Canadian Natural Resources has a fifty-two week low of $52.66 and a fifty-two week high of $82.58.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. The company had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Central Bank & Trust Co. purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $27,000. Principal Securities Inc. purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $35,000. Bruce G. Allen Investments LLC boosted its position in shares of Canadian Natural Resources by 117.8% during the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 245 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its position in shares of Canadian Natural Resources by 39.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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 dividend of $0.774 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.02%. Canadian Natural Resources’s payout ratio is presently 53.25%.

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).