Canadian Natural Resources (NYSE:CNQ) Releases Earnings Results, Beats Expectations By $0.26 EPS

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) issued its quarterly earnings results on Thursday. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26, Briefing.com reports. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 21.98%. The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the company posted $0.43 EPS.

Canadian Natural Resources Stock Performance

CNQ traded down $1.58 during trading on Friday, reaching $33.38. 6,756,602 shares of the company’s stock were exchanged, compared to its average volume of 5,527,471. Canadian Natural Resources has a 1 year low of $29.13 and a 1 year high of $41.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61. The stock has a market capitalization of $71.03 billion, a P/E ratio of 13.30 and a beta of 1.52. The company’s fifty day simple moving average is $35.60 and its 200-day simple moving average is $35.74.

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a dividend of $0.384 per share. This represents a $1.54 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is presently 61.35%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Finally, Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and an average target price of $47.00.

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).