Zacks Research Research Analysts Raise Earnings Estimates for Canadian Natural Resources Limited (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Stock analysts at Zacks Research upped their FY2024 EPS estimates for shares of Canadian Natural Resources in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will post earnings per share of $5.32 for the year, up from their prior forecast of $5.26. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $5.70 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2025 earnings at $1.93 EPS, Q4 2025 earnings at $1.43 EPS and FY2025 earnings at $6.34 EPS.

Several other equities analysts have also recently weighed in on CNQ. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $77.32 on Thursday. The firm’s 50 day moving average price is $73.82 and its 200-day moving average price is $67.68. Canadian Natural Resources has a twelve month low of $52.66 and a twelve month high of $82.58. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $82.90 billion, a PE ratio of 13.96 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The firm had revenue of $7.02 billion for the quarter, compared to analysts’ expectations of $6.73 billion.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.774 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.00%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 53.25%.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Central Bank & Trust Co. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $27,000. Principal Securities Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $35,000. Bruce G. Allen Investments LLC grew its holdings in shares of Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 245 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in shares of Canadian Natural Resources by 39.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

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).