Canadian Natural Resources Limited to Post FY2017 Earnings of $1.11 Per Share, Cormark Forecasts (CNQ)
Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Equities researchers at Cormark lifted their FY2017 EPS estimates for Canadian Natural Resources Limited in a note issued to investors on Wednesday. Cormark analyst A. Arif now forecasts that the company will post earnings per share of $1.11 for the year, up from their previous estimate of $1.10. Cormark also issued estimates for Canadian Natural Resources Limited’s Q4 2017 earnings at $0.44 EPS and FY2018 earnings at $2.59 EPS.
Several other research firms have also recently commented on CNQ. National Bank Financial raised their target price on Canadian Natural Resources Limited from C$47.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Canaccord Genuity raised their price objective on Canadian Natural Resources Limited from C$47.00 to C$48.00 in a research note on Wednesday. TD Securities raised their price objective on Canadian Natural Resources Limited from C$50.00 to C$54.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Royal Bank Of Canada reissued a “top pick” rating and issued a C$59.00 price objective on shares of Canadian Natural Resources Limited in a research note on Monday, June 5th. Finally, CIBC reduced their price objective on Canadian Natural Resources Limited from C$55.00 to C$50.00 in a research note on Thursday, July 20th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of C$50.50.
Shares of Canadian Natural Resources Limited (TSE:CNQ) opened at 39.64 on Friday. The firm has a 50-day moving average price of $38.89 and a 200 day moving average price of $40.41. The company has a market cap of $48.17 billion and a PE ratio of 28.48. Canadian Natural Resources Limited has a 1-year low of $35.90 and a 1-year high of $46.74.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a $0.275 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.77%.
In other Canadian Natural Resources Limited news, insider Betty Yee sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of C$37.46, for a total value of C$28,095.00. Also, insider Darren Fichter sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of C$40.92, for a total value of C$122,760.00. Insiders sold 90,750 shares of company stock valued at $3,451,835 in the last three months.
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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