What is Raymond James' Forecast for TSE:CNQ FY2024 Earnings?

Canadian Natural Resources Limited (TSE:CNQ - Free Report) NYSE: CNQ - Equities researchers at Raymond James boosted their FY2024 earnings per share (EPS) estimates for shares of Canadian Natural Resources in a report released on Thursday, October 31st. Raymond James analyst M. Barth now anticipates that the company will post earnings of $3.43 per share for the year, up from their previous forecast of $3.39. Raymond James currently has a "Market Perform" rating and a $51.00 price target on the stock. The consensus estimate for Canadian Natural Resources' current full-year earnings is $3.83 per share.

Other research analysts also recently issued research reports about the stock. Desjardins raised shares of Canadian Natural Resources from a "hold" rating to a "buy" rating and boosted their target price for the company from C$56.00 to C$59.00 in a research note on Tuesday, October 8th. National Bankshares boosted their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 8th. TD Securities lifted their target price on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. CIBC boosted their price target on Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Finally, Wolfe Research upgraded Canadian Natural Resources to a "hold" rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$74.31.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded up C$0.35 during mid-day trading on Monday, hitting C$47.63. 2,911,939 shares of the company were exchanged, compared to its average volume of 11,795,767. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The company has a market capitalization of C$101.45 billion, a P/E ratio of 13.57, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 12-month low of C$40.02 and a 12-month high of C$56.49. The business's 50 day simple moving average is C$47.35 and its two-hundred day simple moving average is C$63.89.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other news, Senior Officer Trevor Wagil sold 4,272 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. Corporate insiders own 4.26% of the company's stock.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources's payout ratio is currently 60.97%.

Canadian Natural Resources Company Profile

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).