Zacks Research Has Positive Forecast for CNQ FY2024 Earnings

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Investment analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Canadian Natural Resources in a note issued to investors on Thursday, February 13th. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will post earnings of $2.50 per share for the year, up from their prior estimate of $2.47. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.44 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.64 EPS, Q1 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $2.17 EPS, Q1 2026 earnings at $0.63 EPS, Q2 2026 earnings at $0.50 EPS, Q3 2026 earnings at $0.55 EPS, Q4 2026 earnings at $0.66 EPS and FY2026 earnings at $2.34 EPS.

Separately, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $30.10 on Monday. The stock has a 50-day simple moving average of $31.04 and a two-hundred day simple moving average of $33.35. The firm has a market capitalization of $63.30 billion, a P/E ratio of 11.69 and a beta of 1.45. Canadian Natural Resources has a fifty-two week low of $28.65 and a fifty-two week high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Institutional Trading of Canadian Natural Resources

A number of large investors have recently modified their holdings of CNQ. Duncker Streett & Co. Inc. acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $25,000. Continuum Advisory LLC raised its stake in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares in the last quarter. Sandy Spring Bank acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $31,000. Hedge funds and other 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).