Stifel Firstegy Equities Analysts Raise Earnings Estimates for Canadian Natural Resources Limited (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) – Stifel Firstegy lifted their FY2022 earnings per share (EPS) estimates for Canadian Natural Resources in a research report issued on Thursday, May 19th. Stifel Firstegy analyst R. Fitzmartyn now expects that the oil and gas producer will post earnings per share of $9.10 for the year, up from their prior forecast of $8.49. Stifel Firstegy also issued estimates for Canadian Natural Resources’ FY2023 earnings at $8.42 EPS.

Other analysts have also issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from C$80.00 to C$85.00 in a research report on Thursday, March 31st. The Goldman Sachs Group raised their target price on shares of Canadian Natural Resources from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday. TD Securities lifted their price objective on shares of Canadian Natural Resources from C$90.00 to C$94.00 in a report on Friday, May 6th. Zacks Investment Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating and set a $72.00 price objective on the stock in a report on Tuesday, March 29th. Finally, StockNews.com assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $78.35.

Shares of NYSE:CNQ opened at $61.84 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 0.29. Canadian Natural Resources has a 12 month low of $29.53 and a 12 month high of $70.60. The company has a market cap of $71.45 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.40 and a beta of 1.53. The company has a 50-day moving average price of $62.60 and a 200 day moving average price of $52.84.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 5th. The oil and gas producer reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.32. Canadian Natural Resources had a net margin of 24.71% and a return on equity of 26.32%. The firm had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.12 billion.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNQ. Integrated Investment Consultants LLC acquired a new stake in Canadian Natural Resources in the 4th quarter valued at about $357,000. NewEdge Wealth LLC purchased a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at approximately $2,830,000. Raymond James Trust N.A. boosted its position in shares of Canadian Natural Resources by 6.8% during the 4th quarter. Raymond James Trust N.A. now owns 8,241 shares of the oil and gas producer’s stock worth $348,000 after purchasing an additional 525 shares during the period. Brinker Capital Investments LLC boosted its position in shares of Canadian Natural Resources by 7.9% during the 4th quarter. Brinker Capital Investments LLC now owns 7,549 shares of the oil and gas producer’s stock worth $319,000 after purchasing an additional 550 shares during the period. Finally, Paradigm Financial Partners LLC purchased a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $216,000. 68.45% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be issued a $0.583 dividend. The ex-dividend date is Thursday, June 16th. This represents a $2.33 dividend on an annualized basis and a yield of 3.77%. Canadian Natural Resources’s payout ratio is 37.44%.

Canadian Natural Resources Company Profile (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.

Featured Articles

Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.