Canadian Natural Resource (CNQ) Releases Quarterly Earnings Results
Canadian Natural Resource (NYSE:CNQ) posted its quarterly earnings results on Thursday. The company reported $0.93 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.91 by $0.02, Stock Ratings News reports. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter last year, the company posted $0.42 earnings per share. Canadian Natural Resource’s revenue was up 44.5% compared to the same quarter last year.
Shares of Canadian Natural Resource (NYSE:CNQ) traded down 2.86% during mid-day trading on Thursday, hitting $40.80. 1,707,112 shares of the company’s stock traded hands. Canadian Natural Resource has a 1-year low of $29.08 and a 1-year high of $46.65. The stock’s 50-day moving average is $44.77 and its 200-day moving average is $39.91. The company has a market cap of $44.605 billion and a price-to-earnings ratio of 18.61.
A number of research firms have recently commented on CNQ. Analysts at CIBC set a $57.00 price target on shares of Canadian Natural Resource in a research note on Thursday, July 17th. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Canadian Natural Resource in a research note on Tuesday, July 15th. They now have a $47.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Canadian Natural Resource from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 7th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $47.36.
Canadian Natural Resources Limited is a Canadian independent energy company engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas liquids (NYSE:CNQ), and natural gas production.
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