Wall Street analysts expect Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) to report sales of $4.07 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Canadian Natural Resource’s earnings, with estimates ranging from $3.89 billion to $4.26 billion. Canadian Natural Resource posted sales of $2.75 billion during the same quarter last year, which suggests a positive year over year growth rate of 48%. The company is expected to announce its next earnings report on Thursday, May 3rd.
On average, analysts expect that Canadian Natural Resource will report full year sales of $4.07 billion for the current fiscal year, with estimates ranging from $15.05 billion to $17.04 billion. For the next fiscal year, analysts anticipate that the company will post sales of $16.05 billion per share, with estimates ranging from $14.52 billion to $17.57 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Canadian Natural Resource.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, March 1st. The oil and gas producer reported $368.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $368.22. Canadian Natural Resource had a net margin of 14.29% and a return on equity of 4.21%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.56 billion.
Canadian Natural Resource (NYSE CNQ) opened at $29.80 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.64 and a debt-to-equity ratio of 0.65. Canadian Natural Resource has a twelve month low of $27.52 and a twelve month high of $37.63. The company has a market cap of $37,215.44, a price-to-earnings ratio of 0.10, a P/E/G ratio of 2.88 and a beta of 1.38.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 16th will be issued a $0.261 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from Canadian Natural Resource’s previous quarterly dividend of $0.21. Canadian Natural Resource’s dividend payout ratio (DPR) is 0.33%.
Canadian Natural Resource announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 14th that permits the company to repurchase 61,300,000 outstanding shares. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Institutional investors have recently made changes to their positions in the business. Icon Wealth Partners LLC bought a new stake in Canadian Natural Resource in the 4th quarter worth $127,000. Premia Global Advisors LLC bought a new stake in Canadian Natural Resource in the 4th quarter worth $145,000. Calton & Associates Inc. bought a new stake in Canadian Natural Resource in the 4th quarter worth $178,000. Eqis Capital Management Inc. bought a new stake in Canadian Natural Resource in the 4th quarter worth $205,000. Finally, Cubist Systematic Strategies LLC grew its holdings in Canadian Natural Resource by 1,129.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,145 shares of the oil and gas producer’s stock worth $206,000 after acquiring an additional 5,645 shares during the last quarter. 60.29% of the stock is currently owned by institutional investors and hedge funds.
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Canadian Natural Resource Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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