Wall Street brokerages predict that Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) will announce $4.31 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Canadian Natural Resources’ earnings. The highest sales estimate is $4.32 billion and the lowest is $4.30 billion. Canadian Natural Resources reported sales of $4.61 billion during the same quarter last year, which indicates a negative year over year growth rate of 6.5%. The company is expected to issue its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Canadian Natural Resources will report full-year sales of $16.40 billion for the current financial year, with estimates ranging from $16.22 billion to $16.58 billion. For the next financial year, analysts expect that the business will report sales of $16.30 billion, with estimates ranging from $15.89 billion to $16.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Canadian Natural Resources.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.31. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.73 billion. Canadian Natural Resources had a return on equity of 8.98% and a net margin of 13.50%. During the same quarter last year, the business posted $0.71 EPS.

Several equities analysts have recently issued reports on the company. ValuEngine upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Evercore ISI began coverage on Canadian Natural Resources in a research report on Wednesday, March 13th. They set an “in-line” rating for the company. Zacks Investment Research raised Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, February 11th. Tudor Pickering raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Finally, Royal Bank of Canada reaffirmed an “average” rating and issued a $45.00 price target on shares of Canadian Natural Resources in a research report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Canadian Natural Resources currently has an average rating of “Buy” and an average price target of $41.31.

Shares of NYSE CNQ traded down $0.08 during mid-day trading on Wednesday, hitting $27.78. The company had a trading volume of 1,626,500 shares, compared to its average volume of 3,088,120. The company has a market cap of $32.57 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20. Canadian Natural Resources has a 12 month low of $21.85 and a 12 month high of $38.20. The company has a current ratio of 0.76, a quick ratio of 0.43 and a debt-to-equity ratio of 0.60.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.2794 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 53.02%.

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Canadian Natural Resources by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,319,729 shares of the oil and gas producer’s stock valued at $75,761,000 after acquiring an additional 670,665 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Canadian Natural Resources by 29.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,621,362 shares of the oil and gas producer’s stock valued at $52,953,000 after purchasing an additional 366,267 shares during the last quarter. BlackRock Inc. lifted its stake in Canadian Natural Resources by 20.3% in the 3rd quarter. BlackRock Inc. now owns 805,697 shares of the oil and gas producer’s stock valued at $26,315,000 after purchasing an additional 136,063 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Canadian Natural Resources in the 3rd quarter valued at about $1,109,000. Finally, Vanguard Group Inc lifted its stake in Canadian Natural Resources by 3.2% in the 3rd quarter. Vanguard Group Inc now owns 33,721,656 shares of the oil and gas producer’s stock valued at $1,101,349,000 after purchasing an additional 1,031,712 shares during the last quarter. 68.69% of the stock is currently owned by institutional investors.

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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