Analysts expect that Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) will post $0.21 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have provided estimates for Canadian Natural Resources Limited’s earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.13. Canadian Natural Resources Limited posted earnings of ($0.24) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 187.5%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, August 3rd.

On average, analysts expect that Canadian Natural Resources Limited will report full-year earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $1.50. For the next fiscal year, analysts forecast that the business will report earnings of $2.11 per share, with EPS estimates ranging from $1.39 to $2.65. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Canadian Natural Resources Limited.

Several equities research analysts recently issued reports on CNQ shares. TheStreet raised shares of Canadian Natural Resources Limited from a “d+” rating to a “c-” rating in a research note on Wednesday, April 12th. Zacks Investment Research raised shares of Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Friday, May 5th. Morgan Stanley raised shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Wednesday, July 19th. BidaskClub raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, National Bank Financial initiated coverage on shares of Canadian Natural Resources Limited in a research report on Tuesday, June 27th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $45.57.

A number of hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its stake in Canadian Natural Resources Limited by 9.2% in the first quarter. Bank of Montreal Can now owns 28,617,704 shares of the oil and gas producer’s stock valued at $938,375,000 after buying an additional 2,406,633 shares in the last quarter. Vanguard Group Inc. increased its stake in Canadian Natural Resources Limited by 5.5% in the first quarter. Vanguard Group Inc. now owns 25,644,738 shares of the oil and gas producer’s stock valued at $840,890,000 after buying an additional 1,347,742 shares in the last quarter. TD Asset Management Inc. increased its stake in Canadian Natural Resources Limited by 7.6% in the first quarter. TD Asset Management Inc. now owns 21,936,942 shares of the oil and gas producer’s stock valued at $716,181,000 after buying an additional 1,546,425 shares in the last quarter. Beutel Goodman & Co Ltd. increased its stake in Canadian Natural Resources Limited by 5.3% in the first quarter. Beutel Goodman & Co Ltd. now owns 20,163,866 shares of the oil and gas producer’s stock valued at $659,056,000 after buying an additional 1,016,655 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Canadian Natural Resources Limited by 3.8% in the first quarter. Wellington Management Group LLP now owns 19,412,912 shares of the oil and gas producer’s stock valued at $636,256,000 after buying an additional 703,575 shares in the last quarter. 60.34% of the stock is owned by institutional investors.

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Shares of Canadian Natural Resources Limited (CNQ) traded down 0.10% during mid-day trading on Thursday, reaching $30.76. The company’s stock had a trading volume of 2,891,634 shares. Canadian Natural Resources Limited has a 1-year low of $27.52 and a 1-year high of $35.28. The firm’s 50 day moving average price is $29.04 and its 200-day moving average price is $30.60. The company has a market capitalization of $34.36 billion, a price-to-earnings ratio of 292.95 and a beta of 1.47.

The firm also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Shareholders of record on Friday, June 16th were given a $0.2014 dividend. This represents a $0.81 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, June 14th. Canadian Natural Resources Limited’s dividend payout ratio is 888.89%.

Canadian Natural Resources Limited announced that its board has approved a stock buyback program on Wednesday, May 17th that allows the company to repurchase 27,930,000 shares. This repurchase authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

About Canadian Natural Resources Limited

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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