Canadian Natural Resources (NYSE:CNQ) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) posted its quarterly earnings data on Thursday. The oil and gas producer reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.26, Briefing.com reports. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 21.98%. The firm had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the company posted $0.43 EPS.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock traded down $1.58 during trading hours on Friday, hitting $33.38. The company had a trading volume of 6,756,602 shares, compared to its average volume of 5,527,471. The firm has a market cap of $71.03 billion, a PE ratio of 13.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61. Canadian Natural Resources has a one year low of $29.13 and a one year high of $41.29. The firm has a 50-day moving average of $35.60 and a 200 day moving average of $35.74.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a $0.384 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.60%. Canadian Natural Resources’s dividend payout ratio is currently 61.35%.

Wall Street Analyst Weigh In

CNQ has been the subject of several recent research reports. Raymond James upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Wolfe Research assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).