Analysts Anticipate Canadian Natural Resource Ltd (CNQ) to Post $0.63 Earnings Per Share

Equities analysts expect that Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) will report $0.63 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Canadian Natural Resource’s earnings, with estimates ranging from $0.46 to $0.83. Canadian Natural Resource reported earnings of $0.37 per share during the same quarter last year, which indicates a positive year over year growth rate of 70.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, March 7th.

On average, analysts expect that Canadian Natural Resource will report full year earnings of $2.86 per share for the current year, with EPS estimates ranging from $2.64 to $3.07. For the next year, analysts expect that the company will report earnings of $2.98 per share, with EPS estimates ranging from $2.30 to $3.73. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Canadian Natural Resource.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.45. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Canadian Natural Resource had a return on equity of 12.33% and a net margin of 15.94%. During the same quarter last year, the firm posted $0.19 earnings per share.

A number of research firms recently issued reports on CNQ. ValuEngine cut Canadian Natural Resource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Morgan Stanley reduced their price objective on Canadian Natural Resource from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, October 12th. Zacks Investment Research cut Canadian Natural Resource from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. CIBC began coverage on Canadian Natural Resource in a research report on Friday, October 5th. They set a “sector outperform” rating for the company. Finally, Royal Bank of Canada cut Canadian Natural Resource from a “top pick” rating to an “outperform” rating and set a $38.40 price objective for the company. in a research report on Thursday, September 20th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.60.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc. raised its holdings in Canadian Natural Resource by 1.9% during the second quarter. TD Asset Management Inc. now owns 26,972,796 shares of the oil and gas producer’s stock valued at $972,944,000 after buying an additional 505,215 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Canadian Natural Resource by 0.5% during the third quarter. Canada Pension Plan Investment Board now owns 24,436,001 shares of the oil and gas producer’s stock valued at $797,773,000 after buying an additional 125,800 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Canadian Natural Resource by 5.0% during the second quarter. CIBC Asset Management Inc now owns 14,494,425 shares of the oil and gas producer’s stock valued at $523,246,000 after buying an additional 688,757 shares in the last quarter. Letko Brosseau & Associates Inc. raised its holdings in Canadian Natural Resource by 0.6% during the second quarter. Letko Brosseau & Associates Inc. now owns 13,754,606 shares of the oil and gas producer’s stock valued at $496,147,000 after buying an additional 78,647 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Canadian Natural Resource by 5.4% during the second quarter. Great West Life Assurance Co. Can now owns 10,926,357 shares of the oil and gas producer’s stock valued at $395,631,000 after buying an additional 555,839 shares in the last quarter. 67.01% of the stock is owned by hedge funds and other institutional investors.

CNQ traded down $0.84 during trading on Friday, reaching $28.16. 5,641,045 shares of the stock traded hands, compared to its average volume of 3,879,876. The stock has a market cap of $35.43 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.78 and a beta of 1.37. Canadian Natural Resource has a fifty-two week low of $26.90 and a fifty-two week high of $38.20. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $1.02 dividend on an annualized basis and a yield of 3.62%. Canadian Natural Resource’s payout ratio is 124.10%.

Canadian Natural Resource Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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