FY2024 Earnings Estimate for Canadian Natural Resources Limited (NYSE:CNQ) Issued By Raymond James

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Equities researchers at Raymond James boosted their FY2024 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a note issued to investors on Monday, October 7th. Raymond James analyst M. Barth now expects that the oil and gas producer will earn $2.51 per share for the year, up from their prior estimate of $2.42. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.50 per share. Raymond James also issued estimates for Canadian Natural Resources’ FY2025 earnings at $3.09 EPS, FY2026 earnings at $2.78 EPS, FY2027 earnings at $2.90 EPS and FY2028 earnings at $3.08 EPS.

A number of other equities analysts have also issued reports on the company. StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Finally, Wolfe Research assumed coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and an average target price of $49.50.

Canadian Natural Resources Stock Up 0.4 %

CNQ opened at $37.59 on Thursday. The stock’s 50 day moving average price is $34.72 and its 200 day moving average price is $36.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. The stock has a market cap of $79.99 billion, a P/E ratio of 14.98 and a beta of 1.50. Canadian Natural Resources has a 12 month low of $29.45 and a 12 month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The firm had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the firm earned $0.43 EPS.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 annualized dividend and a dividend yield of 4.13%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 66.14%.

Institutional Investors Weigh In On Canadian Natural Resources

Large investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC boosted its stake in shares of Canadian Natural Resources by 117.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 245 shares in the last quarter. RFP Financial Group LLC boosted its position in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 352 shares during the period. Park Place Capital Corp boosted its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares during the period. Sugarloaf Wealth Management LLC boosted its position in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 364 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Canadian Natural Resources by 104.7% in the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 447 shares during the period. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Company Profile

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).