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

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) announced 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. The firm had revenue of $7.76 billion during the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a return on equity of 21.98% and a net margin of 18.05%. During the same quarter in the previous year, the business earned $0.43 earnings per share.

Canadian Natural Resources Stock Down 4.5 %

Shares of CNQ stock traded down $1.58 during trading hours 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. The stock’s 50 day moving average is $35.60 and its 200-day moving average is $35.74. The company has a market cap of $71.03 billion, a price-to-earnings ratio of 13.30 and a beta of 1.52. The company has a current ratio of 0.88, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. Canadian Natural Resources has a fifty-two week low of $29.13 and a fifty-two week high of $41.29.

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders 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 dividend yield of 4.60%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s payout ratio is presently 61.35%.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research reports. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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).