Wall Street brokerages expect Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) to report sales of $4.60 billion for the current quarter, Zacks reports. Two analysts have made estimates for Canadian Natural Resources’ earnings, with the highest sales estimate coming in at $4.79 billion and the lowest estimate coming in at $4.41 billion. Canadian Natural Resources reported sales of $4.51 billion in the same quarter last year, which indicates a positive year over year growth rate of 2%. The company is scheduled to announce its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Canadian Natural Resources will report full-year sales of $17.80 billion for the current fiscal year, with estimates ranging from $17.13 billion to $18.48 billion. For the next fiscal year, analysts expect that the company will report sales of $18.40 billion, with estimates ranging from $17.68 billion to $19.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Canadian Natural Resources.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the company earned $1.04 EPS.
Shares of CNQ stock traded up $0.13 on Thursday, hitting $23.37. 1,481,728 shares of the company’s stock were exchanged, compared to its average volume of 2,842,266. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44. Canadian Natural Resources has a 12 month low of $21.85 and a 12 month high of $35.95. The stock has a market cap of $28.19 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.39 and a beta of 1.13. The company has a 50 day moving average of $25.64 and a 200 day moving average of $27.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.284 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Thursday, September 12th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. Canadian Natural Resources’s dividend payout ratio is presently 51.63%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank increased its stake in shares of Canadian Natural Resources by 65.5% in the first quarter. Toronto Dominion Bank now owns 8,964,876 shares of the oil and gas producer’s stock valued at $246,106,000 after buying an additional 3,549,063 shares during the period. Capital Innovations LLC acquired a new stake in shares of Canadian Natural Resources in the first quarter valued at about $988,000. Wetherby Asset Management Inc. increased its stake in shares of Canadian Natural Resources by 3.8% in the first quarter. Wetherby Asset Management Inc. now owns 21,933 shares of the oil and gas producer’s stock valued at $603,000 after buying an additional 808 shares during the period. Zions Bancorporation N.A. acquired a new stake in shares of Canadian Natural Resources in the first quarter valued at about $28,000. Finally, Letko Brosseau & Associates Inc. increased its stake in shares of Canadian Natural Resources by 0.4% in the second quarter. Letko Brosseau & Associates Inc. now owns 14,907,844 shares of the oil and gas producer’s stock valued at $402,828,000 after buying an additional 66,697 shares during the period. 65.34% of the stock is owned by institutional investors and hedge funds.
Canadian Natural Resources Company Profile
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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