Zacks Research Analysts Boost Earnings Estimates for CNQ

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Zacks Research lifted their Q2 2027 earnings per share estimates for shares of Canadian Natural Resources in a research report issued to clients and investors on Monday, July 28th. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will post earnings of $0.60 per share for the quarter, up from their prior estimate of $0.58. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.45 per share. Zacks Research also issued estimates for Canadian Natural Resources’ FY2027 earnings at $2.52 EPS.

Other analysts also recently issued research reports about the company. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, July 11th. Finally, National Bankshares restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $31.90 on Tuesday. The stock’s 50-day moving average price is $31.78 and its two-hundred day moving average price is $30.40. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The company has a market cap of $66.69 billion, a PE ratio of 12.51 and a beta of 1.03. Canadian Natural Resources has a 1 year low of $24.65 and a 1 year high of $37.91.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the firm earned $1.37 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNQ. Ameritas Advisory Services LLC purchased a new position in shares of Canadian Natural Resources during the second quarter valued at $27,000. Hurley Capital LLC purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at $31,000. Investment Management Corp VA ADV grew its holdings in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 611 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 937 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Canadian Natural Resources by 64.1% during the fourth quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 583 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were issued a dividend of $0.4227 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, June 13th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.30%. Canadian Natural Resources’s payout ratio is currently 67.06%.

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).