Equities research analysts expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to report earnings of $0.38 per share for the current quarter, according to Zacks. Two analysts have made estimates for Canadian Natural Resources’ earnings. The lowest EPS estimate is $0.28 and the highest is $0.52. Canadian Natural Resources reported earnings per share of $0.56 in the same quarter last year, which would indicate a negative year over year growth rate of 32.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, May 9th.
On average, analysts expect that Canadian Natural Resources will report full-year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $2.13. For the next financial year, analysts expect that the firm will post earnings of $2.07 per share, with EPS estimates ranging from $1.32 to $3.83. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, March 7th. The oil and gas producer reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.21). Canadian Natural Resources had a return on equity of 9.62% and a net margin of 11.69%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $3.99 billion.
Several research firms have recently issued reports on CNQ. Zacks Investment Research upgraded Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 10th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating and set a $27.83 price objective on the stock in a report on Wednesday, April 3rd. Scotiabank restated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, April 2nd. ValuEngine upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Finally, Mizuho began coverage on Canadian Natural Resources in a report on Monday, March 11th. They set a “buy” rating and a $45.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.20.
A number of institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in Canadian Natural Resources by 71.7% in the fourth quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 435 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Canadian Natural Resources by 7.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,183 shares of the oil and gas producer’s stock valued at $142,000 after acquiring an additional 454 shares during the last quarter. Lourd Capital LLC boosted its holdings in Canadian Natural Resources by 1.1% in the fourth quarter. Lourd Capital LLC now owns 52,363 shares of the oil and gas producer’s stock valued at $1,264,000 after acquiring an additional 552 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in Canadian Natural Resources by 2.6% in the first quarter. Gulf International Bank UK Ltd now owns 23,708 shares of the oil and gas producer’s stock valued at $651,000 after acquiring an additional 600 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Canadian Natural Resources by 2.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,786 shares of the oil and gas producer’s stock valued at $1,033,000 after acquiring an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 66.72% of the company’s stock.
Shares of CNQ stock remained flat at $$31.32 during mid-day trading on Friday. The stock had a trading volume of 2,242,655 shares, compared to its average volume of 3,236,225. Canadian Natural Resources has a 1-year low of $21.85 and a 1-year high of $38.20. The company has a quick ratio of 0.43, a current ratio of 0.63 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $37.60 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 3.48 and a beta of 1.18.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 22nd were issued a $0.2821 dividend. The ex-dividend date was Thursday, March 21st. This represents a $1.13 dividend on an annualized basis and a yield of 3.60%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.26. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 53.02%.
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 light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). 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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