FY2024 Earnings Estimate for CNQ Issued By Raymond James

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Investment analysts at Raymond James reduced their FY2024 earnings per share estimates for Canadian Natural Resources in a report released on Thursday, January 9th. Raymond James analyst M. Barth now expects that the oil and gas producer will earn $2.38 per share for the year, down from their previous estimate of $2.47. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $2.47 per share. Raymond James also issued estimates for Canadian Natural Resources’ FY2025 earnings at $2.86 EPS, FY2026 earnings at $2.53 EPS, FY2027 earnings at $2.70 EPS and FY2028 earnings at $2.89 EPS.

Separately, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold”.

Canadian Natural Resources Stock Down 0.1 %

Shares of Canadian Natural Resources stock opened at $31.49 on Monday. Canadian Natural Resources has a one year low of $29.23 and a one year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock’s 50-day moving average is $32.39 and its 200 day moving average is $34.09. The firm has a market cap of $66.23 billion, a price-to-earnings ratio of 12.23 and a beta of 1.46.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same quarter in the prior year, the company earned $0.96 EPS.

Hedge Funds Weigh In On Canadian Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Moloney Securities Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 376 shares in the last quarter. Measured Wealth Private Client Group LLC raised its position in shares of Canadian Natural Resources by 4.1% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer’s stock worth $337,000 after acquiring an additional 404 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of Canadian Natural Resources by 4.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares in the last quarter. Pitcairn Co. raised its position in shares of Canadian Natural Resources by 1.3% in the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 475 shares in the last quarter. Finally, Continuum Advisory LLC raised its position in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

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).