Zacks Research Issues Positive Outlook for TSE:CNQ Earnings

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Investment analysts at Zacks Research boosted their FY2027 earnings per share estimates for shares of Canadian Natural Resources in a research note issued on Monday, July 28th. Zacks Research analyst T. Saha now expects that the company will post earnings of $3.52 per share for the year, up from their previous forecast of $3.45. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share.

A number of other brokerages also recently weighed in on CNQ. CIBC raised their price objective on Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Scotiabank raised their price objective on Canadian Natural Resources from C$50.00 to C$54.00 in a research note on Friday, July 11th. Wells Fargo & Company raised their price objective on Canadian Natural Resources from C$42.00 to C$46.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Desjardins cut their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating and cut their price objective for the company from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average target price of C$54.42.

Canadian Natural Resources Stock Down 0.6%

Shares of Canadian Natural Resources stock opened at C$44.12 on Tuesday. The firm has a market cap of C$92.59 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$52.15. The stock has a 50-day simple moving average of C$43.52 and a 200-day simple moving average of C$42.61.

Insider Buying and Selling

In other news, Senior Officer Devin Craig Lowe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of C$44.76, for a total transaction of C$895,200.00. Also, Senior Officer Scott Gerald Stauth sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, June 19th. The shares were sold at an average price of C$46.22, for a total value of C$2,542,100.00. Over the last quarter, insiders sold 309,676 shares of company stock worth $13,897,529. 4.26% of the stock is currently owned by company insiders.

Canadian Natural Resources Company Profile

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.