Brokerages predict that Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) will post earnings of $0.32 per share for the current quarter, according to Zacks. Three analysts have made estimates for Canadian Natural Resource’s earnings, with estimates ranging from $0.27 to $0.36. Canadian Natural Resource reported earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.3%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, March 1st.
On average, analysts expect that Canadian Natural Resource will report full-year earnings of $0.89 per share for the current year, with EPS estimates ranging from $0.83 to $0.96. For the next fiscal year, analysts expect that the firm will report earnings of $2.52 per share, with EPS estimates ranging from $2.05 to $3.81. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Canadian Natural Resource.
Several research analysts have recently commented on CNQ shares. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price target on shares of Canadian Natural Resource in a research report on Thursday, November 2nd. Zacks Investment Research lowered Canadian Natural Resource from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. AltaCorp Capital reissued a “buy” rating and issued a $52.00 price target on shares of Canadian Natural Resource in a research report on Monday, January 15th. Morgan Stanley boosted their price target on Canadian Natural Resource from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Co lowered Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.71.
A number of large investors have recently made changes to their positions in the stock. Eagle Ridge Investment Management increased its position in Canadian Natural Resource by 4.3% during the 4th quarter. Eagle Ridge Investment Management now owns 34,741 shares of the oil and gas producer’s stock valued at $1,241,000 after buying an additional 1,432 shares in the last quarter. Private Advisor Group LLC grew its stake in Canadian Natural Resource by 19.7% during the 3rd quarter. Private Advisor Group LLC now owns 9,180 shares of the oil and gas producer’s stock valued at $303,000 after purchasing an additional 1,508 shares during the last quarter. Telemus Capital LLC grew its stake in Canadian Natural Resource by 16.5% during the 4th quarter. Telemus Capital LLC now owns 11,447 shares of the oil and gas producer’s stock valued at $409,000 after purchasing an additional 1,620 shares during the last quarter. Dividend Assets Capital LLC grew its stake in Canadian Natural Resource by 0.3% during the 4th quarter. Dividend Assets Capital LLC now owns 824,906 shares of the oil and gas producer’s stock valued at $29,465,000 after purchasing an additional 2,160 shares during the last quarter. Finally, Greenleaf Trust grew its stake in Canadian Natural Resource by 31.3% during the 4th quarter. Greenleaf Trust now owns 9,854 shares of the oil and gas producer’s stock valued at $352,000 after purchasing an additional 2,348 shares during the last quarter. 58.87% of the stock is currently owned by institutional investors.
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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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