Stifel Firstegy Comments on Canadian Natural Resources Limited’s Q1 2023 Earnings (TSE:CNQ)

Posted by Defense World Staff on Apr 28th, 2023

Canadian Natural Resources Limited (TSE:CNQ – Get Rating) (NYSE:CNQ) – Research analysts at Stifel Firstegy lowered their Q1 2023 earnings per share estimates for Canadian Natural Resources in a note issued to investors on Monday, April 24th. Stifel Firstegy analyst M. Dunn now forecasts that the company will post earnings per share of $1.61 for the quarter, down from their prior estimate of $1.80. Stifel Firstegy currently has a “Buy” rating on the stock. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $8.41 per share. Stifel Firstegy also issued estimates for Canadian Natural Resources’ FY2024 earnings at $7.24 EPS.

Other analysts have also issued reports about the company. National Bankshares boosted their price objective on Canadian Natural Resources from C$100.00 to C$110.00 in a report on Tuesday, April 18th. Scotiabank increased their target price on shares of Canadian Natural Resources from C$86.00 to C$87.00 in a report on Thursday, April 13th. Morgan Stanley decreased their target price on shares of Canadian Natural Resources from C$90.00 to C$87.00 in a research note on Monday, March 27th. JPMorgan Chase & Co. lifted their target price on shares of Canadian Natural Resources from C$92.00 to C$94.00 in a research report on Tuesday, March 14th. Finally, Raymond James cut their price target on Canadian Natural Resources from C$87.00 to C$85.00 and set an “outperform” rating for the company in a research note on Monday, January 16th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$92.47.

Canadian Natural Resources Stock Up 0.8 %

Shares of CNQ opened at C$80.89 on Thursday. The company has a market capitalization of C$88.98 billion, a PE ratio of 8.43, a PEG ratio of 0.53 and a beta of 2.01. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 34.01. The stock’s 50-day moving average price is C$77.07 and its two-hundred day moving average price is C$77.66. Canadian Natural Resources has a 12 month low of C$58.75 and a 12 month high of C$87.92.

Canadian Natural Resources (TSE:CNQ – Get Rating) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, March 2nd. The company reported C$1.96 EPS for the quarter, missing analysts’ consensus estimates of C$2.21 by C($0.25). Canadian Natural Resources had a return on equity of 29.12% and a net margin of 25.86%. The company had revenue of C$9.69 billion for the quarter, compared to the consensus estimate of C$9.46 billion.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Investors of record on Friday, March 17th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, March 16th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a yield of 4.45%. Canadian Natural Resources’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Calvin John Bast sold 5,000 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of C$80.90, for a total value of C$404,500.00. Following the completion of the sale, the insider now directly owns 40,387 shares in the company, valued at C$3,267,308.30. Over the last three months, insiders sold 15,000 shares of company stock worth $1,208,385. 2.22% of the stock is currently owned by insiders.

About Canadian Natural Resources

(Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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.