Equities Analysts Offer Predictions for Canadian Natural Resources Limited’s FY2024 Earnings (NYSE:CNQ)

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Research analysts at Zacks Research boosted their FY2024 EPS estimates for shares of Canadian Natural Resources in a research note issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will post earnings per share of $5.32 for the year, up from their prior estimate 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.

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

Other equities analysts have also recently issued research reports about the stock. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective 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 assigned a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Stock Down 0.2 %

Canadian Natural Resources stock opened at $76.95 on Thursday. The stock has a market cap of $82.50 billion, a price-to-earnings ratio of 13.89 and a beta of 1.54. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $73.54 and its two-hundred day moving average price is $67.62. Canadian Natural Resources has a 52 week low of $52.66 and a 52 week high of $82.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Canadian Natural Resources by 993.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock worth $13,535,000 after buying an additional 187,694 shares during the period. Cerity Partners LLC boosted its holdings in shares of Canadian Natural Resources by 556.7% in the fourth quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer’s stock worth $6,312,000 after buying an additional 81,669 shares during the period. Baskin Financial Services Inc. boosted its holdings in shares of Canadian Natural Resources by 3.5% in the fourth quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer’s stock worth $30,406,000 after buying an additional 15,546 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Canadian Natural Resources by 130.6% in the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer’s stock worth $10,292,000 after buying an additional 89,700 shares during the period. Finally, NewEdge Wealth LLC boosted its holdings in shares of Canadian Natural Resources by 10.8% in the fourth quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer’s stock worth $29,904,000 after buying an additional 44,568 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.774 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.02%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s payout ratio is currently 53.25%.

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).