Zacks: Analysts Anticipate Canadian Natural Resource Ltd (CNQ) Will Post Quarterly Sales of $4.71 Billion

Brokerages expect that Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) will post $4.71 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Canadian Natural Resource’s earnings, with estimates ranging from $4.56 billion to $4.86 billion. Canadian Natural Resource posted sales of $3.42 billion in the same quarter last year, which suggests a positive year over year growth rate of 37.7%. The company is expected to issue its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Canadian Natural Resource will report full-year sales of $18.19 billion for the current financial year, with estimates ranging from $17.73 billion to $18.66 billion. For the next financial year, analysts expect that the company will post sales of $17.21 billion per share, with estimates ranging from $17.08 billion to $17.33 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Canadian Natural Resource.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas producer reported $1.04 EPS for the quarter, topping the consensus estimate of $0.54 by $0.50. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.28 billion. Canadian Natural Resource had a net margin of 12.34% and a return on equity of 8.35%. During the same quarter in the previous year, the business posted $0.29 EPS.

A number of research analysts have issued reports on CNQ shares. ValuEngine lowered shares of Canadian Natural Resource from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Morgan Stanley upped their price target on shares of Canadian Natural Resource from $55.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. Zacks Investment Research lowered shares of Canadian Natural Resource from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, Evercore ISI started coverage on shares of Canadian Natural Resource in a research note on Wednesday, June 27th. They set an “inline” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.25.

Canadian Natural Resource stock traded up $0.74 during mid-day trading on Wednesday, reaching $35.64. 1,396,000 shares of the company traded hands, compared to its average volume of 2,903,655. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Canadian Natural Resource has a fifty-two week low of $29.20 and a fifty-two week high of $38.20. The firm has a market capitalization of $42.62 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 2.36 and a beta of 1.24.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a dividend of $0.257 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.03 dividend on an annualized basis and a yield of 2.88%. Canadian Natural Resource’s payout ratio is 124.10%.

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Canadian Natural Resource by 1.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 89,181 shares of the oil and gas producer’s stock valued at $3,217,000 after acquiring an additional 1,506 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Canadian Natural Resource by 14.0% in the 1st quarter. Van ECK Associates Corp now owns 13,548 shares of the oil and gas producer’s stock valued at $426,000 after acquiring an additional 1,666 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Canadian Natural Resource by 2.8% in the 1st quarter. Guggenheim Capital LLC now owns 62,443 shares of the oil and gas producer’s stock valued at $1,964,000 after acquiring an additional 1,703 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Canadian Natural Resource by 50.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Morningstar Investment Services LLC boosted its holdings in shares of Canadian Natural Resource by 18.3% in the 2nd quarter. Morningstar Investment Services LLC now owns 11,821 shares of the oil and gas producer’s stock valued at $426,000 after acquiring an additional 1,828 shares during the last quarter. Institutional investors and hedge funds own 67.08% of the company’s stock.

About Canadian Natural Resource

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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