FY2029 Earnings Estimate for CNQ Issued By Raymond James

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Analysts at Raymond James reduced their FY2029 earnings estimates for shares of Canadian Natural Resources in a research report issued to clients and investors on Thursday, May 8th. Raymond James analyst M. Barth now anticipates that the oil and gas producer will post earnings of $3.13 per share for the year, down from their previous estimate of $3.35. Raymond James has a “Outperform” rating on the stock. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.45 per share.

Several other research analysts have also commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Canadian Natural Resources Stock Up 1.6%

Canadian Natural Resources stock opened at $30.53 on Monday. The company has a market capitalization of $63.95 billion, a PE ratio of 11.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources has a fifty-two week low of $24.65 and a fifty-two week high of $38.86. The firm has a 50 day moving average price of $28.98 and a 200 day moving average price of $30.78.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the firm earned $1.37 EPS.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be paid a $0.4227 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Friday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 63.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after purchasing an additional 7,372,718 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Canadian Natural Resources by 595.2% during the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 5,982 shares during the period. SG Americas Securities LLC raised its holdings in Canadian Natural Resources by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after acquiring an additional 17,694 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after acquiring an additional 1,270,945 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after acquiring an additional 2,064,492 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

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).