Zacks Research Brokers Raise Earnings Estimates for TSE:CNQ

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for Canadian Natural Resources in a report issued on Thursday, February 13th. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $3.40 per share for the year, up from their prior estimate of $3.37. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q4 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.40 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.60 EPS, FY2025 earnings at $2.96 EPS, FY2025 earnings at $2.96 EPS, Q1 2026 earnings at $0.84 EPS, Q1 2026 earnings at $0.84 EPS, Q2 2026 earnings at $0.66 EPS, Q2 2026 earnings at $0.66 EPS, Q3 2026 earnings at $0.73 EPS, Q3 2026 earnings at $0.73 EPS, Q4 2026 earnings at $0.87 EPS, FY2026 earnings at $3.10 EPS and FY2026 earnings at $3.10 EPS.

A number of other analysts also recently issued reports on the company. Raymond James lifted their target price on Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company lifted their price target on Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. Royal Bank of Canada reduced their price target on Canadian Natural Resources from C$63.00 to C$62.00 in a report on Tuesday, January 14th. Finally, TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus target price of C$71.44.

Canadian Natural Resources Price Performance

TSE:CNQ opened at C$43.10 on Monday. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The stock’s 50-day simple moving average is C$44.52 and its 200 day simple moving average is C$46.45. The company has a market cap of C$90.45 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 52-week low of C$42.01 and a 52-week high of C$56.49.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. Also, Senior Officer Warren Paul Raczynski sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of C$43.70, for a total transaction of C$327,750.00. Over the last ninety days, insiders sold 148,932 shares of company stock worth $6,711,095. Corporate insiders own 4.26% of the company’s stock.

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).