$4.41 Billion in Sales Expected for Canadian Natural Resources Ltd (CNQ) This Quarter

Wall Street brokerages predict that Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) will post $4.41 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Canadian Natural Resources’ earnings. The lowest sales estimate is $4.14 billion and the highest is $4.67 billion. Canadian Natural Resources posted sales of $3.95 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Canadian Natural Resources will report full-year sales of $17.64 billion for the current year, with estimates ranging from $17.38 billion to $17.90 billion. For the next year, analysts forecast that the company will post sales of $18.60 billion, with estimates ranging from $17.65 billion to $19.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Canadian Natural Resources.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.45. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Canadian Natural Resources had a net margin of 15.94% and a return on equity of 12.33%. During the same quarter in the previous year, the firm posted $0.19 earnings per share.

CNQ has been the topic of several analyst reports. Royal Bank of Canada reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, November 2nd. Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, November 2nd. Macquarie cut shares of Canadian Natural Resources from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 9th. Morgan Stanley reduced their price objective on shares of Canadian Natural Resources from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 20th. Finally, Zacks Investment Research cut shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $46.08.

Shares of Canadian Natural Resources stock traded down $0.05 during trading on Thursday, hitting $25.15. The company’s stock had a trading volume of 4,494,433 shares, compared to its average volume of 3,390,422. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. Canadian Natural Resources has a 52 week low of $24.02 and a 52 week high of $38.20. The stock has a market cap of $30.51 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 1.53 and a beta of 1.37.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $1.02 annualized dividend and a yield of 4.06%. Canadian Natural Resources’s payout ratio is 124.10%.

A number of hedge funds have recently added to or reduced their stakes in CNQ. Worth Venture Partners LLC acquired a new position in shares of Canadian Natural Resources during the third quarter valued at about $131,000. Legacy Financial Advisors Inc. acquired a new position in shares of Canadian Natural Resources during the third quarter valued at about $148,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Canadian Natural Resources during the third quarter valued at about $153,000. Cubist Systematic Strategies LLC raised its holdings in shares of Canadian Natural Resources by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after purchasing an additional 1,800 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Canadian Natural Resources by 19,853.3% during the third quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock worth $197,000 after acquiring an additional 5,956 shares in the last quarter. Institutional investors and hedge funds own 66.40% of the company’s stock.

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 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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