Zacks Research Has Positive Forecast for CNQ FY2024 Earnings

Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ - Research analysts at Zacks Research raised their FY2024 earnings estimates for Canadian Natural Resources in a report released on Thursday, February 13th. Zacks Research analyst T. Saha now anticipates that the oil and gas producer will post earnings of $2.50 per share for the year, up from their previous forecast of $2.47. The consensus estimate for Canadian Natural Resources' current full-year earnings is $2.45 per share. Zacks Research also issued estimates for Canadian Natural Resources' Q4 2024 earnings at $0.64 EPS, Q1 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $2.17 EPS, Q1 2026 earnings at $0.63 EPS, Q2 2026 earnings at $0.50 EPS, Q3 2026 earnings at $0.55 EPS, Q4 2026 earnings at $0.66 EPS and FY2026 earnings at $2.34 EPS.

Other research analysts have also recently issued research reports about the company. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $62.00.

Canadian Natural Resources Stock Up 0.9 %

Shares of NYSE CNQ traded up $0.27 on Monday, reaching $30.69. 9,957,892 shares of the company's stock traded hands, compared to its average volume of 6,271,175. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The business's 50 day simple moving average is $30.92 and its two-hundred day simple moving average is $33.26. Canadian Natural Resources has a 12 month low of $28.65 and a 12 month high of $41.29. The company has a market cap of $64.52 billion, a price-to-earnings ratio of 11.92 and a beta of 1.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Moloney Securities Asset Management LLC raised its position in Canadian Natural Resources by 5.4% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer's stock worth $242,000 after buying an additional 376 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Canadian Natural Resources by 4.1% during the third quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer's stock valued at $337,000 after purchasing an additional 404 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer's stock valued at $300,000 after purchasing an additional 419 shares during the last quarter. Fifth Third Bancorp lifted its position in Canadian Natural Resources by 51.0% during the fourth quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 429 shares during the period. Finally, Assetmark Inc. boosted its holdings in Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 439 shares during the last quarter. 74.03% of the stock is owned by 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).