Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ - Investment analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Canadian Natural Resources in a report issued on Tuesday, January 14th. Zacks Research analyst T. Saha now forecasts that the oil and gas producer will post earnings of $2.47 per share for the year, up from their prior estimate of $2.44. The consensus estimate for Canadian Natural Resources' current full-year earnings is $2.42 per share. Zacks Research also issued estimates for Canadian Natural Resources' Q4 2024 earnings at $0.62 EPS, Q3 2025 earnings at $0.56 EPS, Q2 2026 earnings at $0.49 EPS and Q3 2026 earnings at $0.52 EPS.
Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the business earned $0.96 earnings per share.
Separately, Desjardins upgraded shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".
Check Out Our Latest Stock Analysis on Canadian Natural Resources
Canadian Natural Resources Price Performance
Shares of NYSE:CNQ traded down $0.74 on Thursday, reaching $30.77. 8,891,037 shares of the company were exchanged, compared to its average volume of 7,033,794. The company has a 50-day moving average of $32.33 and a 200-day moving average of $34.07. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $64.72 billion, a price-to-earnings ratio of 11.95 and a beta of 1.46. Canadian Natural Resources has a 1-year low of $29.23 and a 1-year high of $41.29.
Institutional Trading of Canadian Natural Resources
A number of institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in shares of Canadian Natural Resources by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer's stock worth $1,447,326,000 after buying an additional 1,651,452 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer's stock valued at $1,476,644,000 after acquiring an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. raised its position in Canadian Natural Resources by 105.3% during the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer's stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Canadian Natural Resources by 90.3% in the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer's stock valued at $1,069,338,000 after purchasing an additional 14,246,978 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Canadian Natural Resources by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer's stock valued at $945,965,000 after purchasing an additional 1,383,478 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Natural Resources Company Profile
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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).
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