Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) – Research analysts at Zacks Research boosted their FY2023 EPS estimates for Canadian Natural Resources in a report released on Tuesday, July 11th. Zacks Research analyst T. Saha now expects that the oil and gas producer will earn $5.15 per share for the year, up from their prior forecast of $5.13. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $5.26 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2023 earnings at $1.50 EPS, Q1 2024 earnings at $1.98 EPS, Q3 2024 earnings at $1.18 EPS, FY2024 earnings at $5.39 EPS, Q1 2025 earnings at $1.15 EPS, Q2 2025 earnings at $1.19 EPS and FY2025 earnings at $5.59 EPS.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.05. Canadian Natural Resources had a return on equity of 29.39% and a net margin of 20.63%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion.
Canadian Natural Resources Trading Up 1.4 %
Shares of NYSE CNQ opened at $57.79 on Wednesday. The business’s 50 day moving average is $55.73 and its two-hundred day moving average is $56.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.83 and a quick ratio of 0.57. Canadian Natural Resources has a 1-year low of $44.45 and a 1-year high of $62.57. The stock has a market capitalization of $63.25 billion, a P/E ratio of 8.95, a PEG ratio of 0.86 and a beta of 1.57.
Hedge Funds Weigh In On Canadian Natural Resources
A number of large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership acquired a new position in shares of Canadian Natural Resources during the first quarter worth $960,796,000. National Bank of Canada FI boosted its stake in shares of Canadian Natural Resources by 831.0% during the 4th quarter. National Bank of Canada FI now owns 12,614,963 shares of the oil and gas producer’s stock worth $700,337,000 after acquiring an additional 11,259,955 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Canadian Natural Resources by 32.8% during the 4th quarter. Bank of Nova Scotia now owns 19,845,541 shares of the oil and gas producer’s stock worth $1,102,057,000 after acquiring an additional 4,897,414 shares in the last quarter. Capital International Investors lifted its stake in Canadian Natural Resources by 88.2% in the 1st quarter. Capital International Investors now owns 7,930,544 shares of the oil and gas producer’s stock valued at $491,064,000 after buying an additional 3,716,523 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in Canadian Natural Resources in the 1st quarter valued at about $134,719,000. Institutional investors own 71.24% of the company’s stock.
Canadian Natural Resources Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Friday, June 16th were paid a $0.664 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Thursday, June 15th. Canadian Natural Resources’s dividend payout ratio (DPR) is 41.02%.
About Canadian Natural Resources
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).
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