Wall Street analysts expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to report $4.59 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Canadian Natural Resources’ earnings. The lowest sales estimate is $4.54 billion and the highest is $4.64 billion. Canadian Natural Resources reported sales of $2.80 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 63.9%. The firm is expected to report its next quarterly earnings results on Thursday, March 5th.
On average, analysts expect that Canadian Natural Resources will report full-year sales of $17.19 billion for the current fiscal year, with estimates ranging from $17.11 billion to $17.28 billion. For the next fiscal year, analysts forecast that the company will report sales of $17.55 billion, with estimates ranging from $17.40 billion to $17.70 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.44. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.46 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same quarter in the previous year, the company earned $1.11 earnings per share.
Several equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Canadian Natural Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday. Tudor Pickering downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Credit Suisse Group set a $48.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wells Fargo & Co downgraded shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Friday, September 6th. Finally, TD Securities boosted their target price on shares of Canadian Natural Resources from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. Canadian Natural Resources presently has an average rating of “Buy” and an average target price of $40.92.
Several hedge funds have recently modified their holdings of the stock. Huntington National Bank boosted its stake in Canadian Natural Resources by 348.8% in the second quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 1,036 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Canadian Natural Resources in the second quarter valued at $40,000. Lindbrook Capital LLC boosted its stake in Canadian Natural Resources by 205.1% in the third quarter. Lindbrook Capital LLC now owns 2,288 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 1,538 shares in the last quarter. SG3 Management LLC acquired a new position in Canadian Natural Resources in the second quarter valued at $65,000. Finally, Whittier Trust Co. boosted its stake in Canadian Natural Resources by 1,309.9% in the third quarter. Whittier Trust Co. now owns 5,287 shares of the oil and gas producer’s stock valued at $141,000 after acquiring an additional 4,912 shares in the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.
NYSE CNQ traded down $0.14 on Thursday, reaching $27.94. The stock had a trading volume of 1,697,260 shares, compared to its average volume of 2,733,854. The firm has a market capitalization of $31.35 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.74 and a beta of 1.16. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. Canadian Natural Resources has a 12-month low of $21.85 and a 12-month high of $31.77. The stock has a fifty day moving average price of $26.00 and a two-hundred day moving average price of $26.19.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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