Q1 2022 EPS Estimates for Canadian Natural Resources Limited Reduced by Analyst (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQGet Rating) (NYSE:CNQ) – Equities researchers at Stifel Firstegy reduced their Q1 2022 EPS estimates for shares of Canadian Natural Resources in a research report issued on Thursday, April 21st. Stifel Firstegy analyst R. Fitzmartyn now anticipates that the company will earn $2.43 per share for the quarter, down from their prior forecast of $2.44.

Canadian Natural Resources (TSE:CNQGet Rating) (NYSE:CNQ) last issued its earnings results on Thursday, March 3rd. The company reported C$2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.11 by C$0.10. The firm had revenue of C$9.21 billion during the quarter, compared to analyst estimates of C$8.83 billion.

Several other equities analysts have also commented on the stock. Royal Bank of Canada increased their price target on shares of Canadian Natural Resources from C$80.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, March 31st. CIBC increased their price target on shares of Canadian Natural Resources from C$80.00 to C$90.00 in a research note on Thursday, April 14th. National Bank Financial raised their target price on shares of Canadian Natural Resources from C$69.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Thursday, January 6th. Bank of America raised their target price on shares of Canadian Natural Resources from C$68.00 to C$69.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Canadian Natural Resources from C$66.00 to C$67.00 in a research report on Friday, March 4th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$72.35.

Shares of Canadian Natural Resources stock opened at C$81.23 on Monday. The firm has a market capitalization of C$94.43 billion and a P/E ratio of 12.57. Canadian Natural Resources has a 52 week low of C$36.39 and a 52 week high of C$88.18. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 44.06. The firm’s 50 day moving average is C$76.25 and its two-hundred day moving average is C$63.02.

In other news, Director Stephen W. Laut sold 5,000 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of C$79.38, for a total transaction of C$396,881.00. Following the completion of the transaction, the director now owns 1,849,454 shares of the company’s stock, valued at approximately C$146,802,630.59. Also, Senior Officer Scott Gerald Stauth sold 26,000 shares of the business’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of C$80.30, for a total transaction of C$2,087,800.00. Following the completion of the transaction, the insider now directly owns 49,221 shares of the company’s stock, valued at approximately C$3,952,446.30. In the last three months, insiders sold 144,615 shares of company stock valued at $10,432,772.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 5th. Shareholders of record on Friday, March 18th were issued a $0.75 dividend. The ex-dividend date was Thursday, March 17th. This represents a $3.00 dividend on an annualized basis and a yield of 3.69%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.47. Canadian Natural Resources’s dividend payout ratio (DPR) is 30.92%.

About Canadian Natural Resources (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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