Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) – Stock analysts at National Bank Financial dropped their FY2019 earnings per share estimates for shares of Canadian Natural Resources in a research note issued on Wednesday, December 4th. National Bank Financial analyst T. Wood now forecasts that the oil and gas producer will earn $3.53 per share for the year, down from their previous estimate of $3.57. National Bank Financial has a “Sector Perform” rating on the stock. National Bank Financial also issued estimates for Canadian Natural Resources’ FY2020 earnings at $1.44 EPS.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.44. The business 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 7.87% and a net margin of 18.37%. During the same period in the previous year, the firm earned $1.11 EPS.
A number of other research analysts have also weighed in on CNQ. ValuEngine raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Tudor Pickering lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on Canadian Natural Resources from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Wells Fargo & Co reissued a “sell” rating on shares of Canadian Natural Resources in a report on Monday. Finally, Goldman Sachs Group set a $29.00 target price on Canadian Natural Resources and gave the stock a “hold” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Canadian Natural Resources currently has an average rating of “Buy” and a consensus price target of $40.65.
CNQ stock opened at $29.52 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $34.90 billion, a PE ratio of 13.73, a PEG ratio of 1.63 and a beta of 1.21. Canadian Natural Resources has a 1-year low of $21.85 and a 1-year high of $31.77. The business’s 50 day simple moving average is $27.42 and its 200 day simple moving average is $26.11.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNQ. Amundi Pioneer Asset Management Inc. boosted its stake in Canadian Natural Resources by 29.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 674,844 shares of the oil and gas producer’s stock valued at $18,558,000 after purchasing an additional 152,046 shares during the period. SG Americas Securities LLC bought a new stake in Canadian Natural Resources in the 2nd quarter valued at $405,000. Highstreet Asset Management Inc. boosted its stake in Canadian Natural Resources by 29.8% in the 2nd quarter. Highstreet Asset Management Inc. now owns 2,945,073 shares of the oil and gas producer’s stock valued at $79,409,000 after purchasing an additional 675,542 shares during the period. Intact Investment Management Inc. boosted its stake in Canadian Natural Resources by 7.2% in the 2nd quarter. Intact Investment Management Inc. now owns 1,672,150 shares of the oil and gas producer’s stock valued at $58,943,000 after purchasing an additional 111,600 shares during the period. Finally, Aperio Group LLC boosted its stake in Canadian Natural Resources by 7.3% in the 2nd quarter. Aperio Group LLC now owns 395,315 shares of the oil and gas producer’s stock valued at $10,662,000 after purchasing an additional 27,053 shares during the period. Institutional investors and hedge funds own 65.82% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Wednesday, December 11th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 3.86%. Canadian Natural Resources’s payout ratio is 52.56%.
Canadian Natural Resources Company Profile
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.
Read More: Trading on Margin
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.