Canadian Natural Resources Limited Expected to Earn Q1 2024 Earnings of $1.41 Per Share (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Stock analysts at Zacks Research dropped their Q1 2024 earnings estimates for shares of Canadian Natural Resources in a research report issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now anticipates that the company will earn $1.41 per share for the quarter, down from their previous forecast of $1.62. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $7.61 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2024 earnings at $2.09 EPS, Q1 2025 earnings at $1.84 EPS, Q1 2026 earnings at $1.78 EPS and FY2026 earnings at $7.59 EPS.

Several other equities research analysts have also issued reports on CNQ. CIBC increased their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a report on Monday. Stifel Nicolaus increased their target price on shares of Canadian Natural Resources from C$110.00 to C$126.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a report on Monday, March 4th. Evercore increased their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Finally, National Bankshares increased their target price on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the stock a “sector perform” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$111.00.

Canadian Natural Resources Price Performance

TSE CNQ opened at C$105.68 on Wednesday. The company has a 50-day moving average price of C$100.29 and a 200-day moving average price of C$91.74. The firm has a market capitalization of C$113.08 billion, a P/E ratio of 14.15, a PEG ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a 52 week low of C$69.83 and a 52 week high of C$112.99. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, beating the consensus estimate of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. The firm had revenue of C$9.55 billion during the quarter, compared to analyst estimates of C$9.04 billion.

Insiders Place Their Bets

In other news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. In related news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. Also, Director Norman Murray Edwards sold 13,500 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of C$97.66, for a total value of C$1,318,349.25. Insiders sold 331,237 shares of company stock worth $32,470,646 in the last three months. 2.20% of the stock is owned by company insiders.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.97%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s dividend payout ratio is presently 51.54%.

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).