Analysts expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to report $4.46 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Canadian Natural Resources’ earnings, with the lowest sales estimate coming in at $4.29 billion and the highest estimate coming in at $4.64 billion. Canadian Natural Resources reported sales of $2.80 billion during the same quarter last year, which indicates a positive year over year growth rate of 59.3%. The firm is scheduled to announce its next earnings report on Thursday, March 5th.
According to Zacks, analysts expect that Canadian Natural Resources will report full-year sales of $17.21 billion for the current fiscal year, with estimates ranging from $17.15 billion to $17.28 billion. For the next financial year, analysts anticipate that the firm will report sales of $17.67 billion, with estimates ranging from $17.64 billion to $17.70 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.44. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.46 billion. Canadian Natural Resources had a return on equity of 7.87% and a net margin of 18.37%. During the same period in the prior year, the firm posted $1.11 EPS.
Several equities research analysts recently weighed in on CNQ shares. ValuEngine raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Goldman Sachs Group set a $29.00 target price on shares of Canadian Natural Resources and gave the company a “hold” rating in a report on Friday, September 27th. Wells Fargo & Co cut shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. Royal Bank of Canada cut their price target on shares of Canadian Natural Resources from $45.00 to $42.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, National Bank Financial lowered shares of Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $39.48.
Shares of NYSE CNQ traded down $0.33 during mid-day trading on Friday, reaching $28.03. The company had a trading volume of 2,223,811 shares, compared to its average volume of 2,740,308. The firm has a market cap of $33.59 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.72 and a beta of 1.21. The business’s 50-day simple moving average is $27.00 and its 200 day simple moving average is $26.05. Canadian Natural Resources has a one year low of $21.85 and a one year high of $31.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.45 and a current ratio of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 11th will be paid a $0.285 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, December 10th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 52.56%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in Canadian Natural Resources by 348.8% in the second quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 1,036 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Canadian Natural Resources in the 2nd quarter valued at $40,000. Lindbrook Capital LLC lifted its stake in shares of Canadian Natural Resources by 205.1% in the 3rd quarter. Lindbrook Capital LLC now owns 2,288 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 1,538 shares during the last quarter. SG3 Management LLC acquired a new stake in shares of Canadian Natural Resources during the 2nd quarter valued at $65,000. Finally, Whittier Trust Co. boosted its holdings in shares of Canadian Natural Resources by 1,309.9% during the 3rd quarter. Whittier Trust Co. now owns 5,287 shares of the oil and gas producer’s stock valued at $141,000 after acquiring an additional 4,912 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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