FY2029 Earnings Estimate for CNQ Issued By Raymond James

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Equities research analysts at Raymond James cut their FY2029 earnings per share estimates for shares of Canadian Natural Resources in a report released on Thursday, May 8th. Raymond James analyst M. Barth now anticipates that the oil and gas producer will earn $3.13 per share for the year, down from their prior 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.

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

Several other brokerages also recently commented on CNQ. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of $63.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $32.25 on Monday. The company has a market cap of $67.55 billion, a PE ratio of 12.52 and a beta of 1.04. Canadian Natural Resources has a 52 week low of $24.65 and a 52 week high of $38.86. The business has a 50 day moving average price of $29.15 and a 200-day moving average price of $30.77. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Institutional Trading of Canadian Natural Resources

A number of institutional investors and hedge funds have recently modified their holdings of CNQ. Duncker Streett & Co. Inc. bought a new position in Canadian Natural Resources during the fourth quarter valued at $25,000. Lee Danner & Bass Inc. bought a new position in Canadian Natural Resources during the fourth quarter valued at $25,000. Sandy Spring Bank bought a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. CoreFirst Bank & Trust bought a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. Finally, Hurley Capital LLC bought a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.4227 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 63.92%.

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).