Zacks Research Issues Positive Outlook for TSE:CNQ Earnings

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities researchers at Zacks Research lifted their FY2027 EPS estimates for Canadian Natural Resources in a research report issued on Monday, July 28th. Zacks Research analyst T. Saha now forecasts that the company will post earnings of $3.52 per share for the year, up from their prior forecast of $3.45. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $3.83 per share.

Other analysts also recently issued reports about the company. Desjardins reduced their target price on Canadian Natural Resources from C$51.00 to C$49.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company lifted their price target on Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Raymond James Financial raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from C$52.00 to C$49.00 in a report on Wednesday, April 9th. CIBC raised their target price on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a research report on Thursday, April 10th. Finally, Scotiabank upped their price target on shares of Canadian Natural Resources from C$50.00 to C$54.00 in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$54.42.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$43.87 on Tuesday. The company has a fifty day moving average of C$43.46 and a two-hundred day moving average of C$42.58. The company has a market capitalization of C$92.07 billion, a PE ratio of 12.18, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$52.15. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

Insider Activity at Canadian Natural Resources

In other news, Senior Officer Scott Gerald Stauth sold 55,000 shares of Canadian Natural Resources stock in a transaction dated Thursday, June 19th. The shares were sold at an average price of C$46.22, for a total value of C$2,542,100.00. Also, Senior Officer Troy John Peter Andersen sold 60,000 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of C$43.87, for a total transaction of C$2,632,410.00. Insiders have sold 309,676 shares of company stock worth $13,897,529 in the last 90 days. Corporate insiders own 4.26% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.