Canadian Natural Resources Ltd (NYSE:CNQ) Expected to Post Earnings of $0.51 Per Share

Equities analysts expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to announce earnings per share (EPS) of $0.51 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Canadian Natural Resources’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.57. Canadian Natural Resources reported earnings per share of ($0.16) in the same quarter last year, which would indicate a positive year-over-year growth rate of 418.8%. The company is expected to announce its next earnings report on Thursday, March 5th.

According to Zacks, analysts expect that Canadian Natural Resources will report full-year earnings of $2.56 per share for the current year, with EPS estimates ranging from $2.00 to $3.57. For the next fiscal year, analysts expect that the company will post earnings of $1.73 per share, with EPS estimates ranging from $1.08 to $2.43. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Canadian Natural Resources.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.44. Canadian Natural Resources had a return on equity of 7.87% and a net margin of 18.37%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company earned $1.11 EPS.

A number of brokerages have recently commented on CNQ. Goldman Sachs Group set a $29.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a report on Friday, September 27th. Wells Fargo & Co cut Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. ValuEngine raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. CIBC boosted their target price on shares of Canadian Natural Resources from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, National Bank Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.48.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new position in Canadian Natural Resources in the second quarter worth $123,576,000. Alberta Investment Management Corp raised its stake in shares of Canadian Natural Resources by 61.9% in the 2nd quarter. Alberta Investment Management Corp now owns 4,604,838 shares of the oil and gas producer’s stock valued at $162,597,000 after buying an additional 1,760,600 shares in the last quarter. National Pension Service bought a new position in shares of Canadian Natural Resources during the 2nd quarter worth about $55,410,000. Man Group plc lifted its holdings in shares of Canadian Natural Resources by 176.3% during the 3rd quarter. Man Group plc now owns 2,308,977 shares of the oil and gas producer’s stock worth $61,475,000 after acquiring an additional 1,473,429 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Canadian Natural Resources by 711.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,400,266 shares of the oil and gas producer’s stock valued at $37,764,000 after acquiring an additional 1,227,685 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

CNQ traded down $0.33 during midday trading on Thursday, reaching $28.03. The company’s stock had a trading volume of 2,223,811 shares, compared to its average volume of 2,740,308. The stock has a market cap of $33.59 billion, a P/E ratio of 13.04, a PEG ratio of 1.72 and a beta of 1.21. The company has a fifty day simple moving average of $27.00 and a 200 day simple moving average of $26.05. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.53. Canadian Natural Resources has a twelve month low of $21.85 and a twelve month high of $31.77.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 11th will be issued a $0.285 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.14 annualized dividend and a yield of 4.07%. Canadian Natural Resources’s dividend payout ratio is 52.56%.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Earnings History and Estimates for Canadian Natural Resources (NYSE:CNQ)

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