Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) released its quarterly earnings results on Thursday. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.45, Briefing.com reports. Canadian Natural Resource had a net margin of 12.34% and a return on equity of 8.35%. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period in the previous year, the company earned $0.19 earnings per share.
Shares of NYSE:CNQ traded down $0.27 on Friday, hitting $28.64. 4,471,490 shares of the company were exchanged, compared to its average volume of 3,058,244. Canadian Natural Resource has a 1-year low of $26.90 and a 1-year high of $38.20. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $33.61 billion, a P/E ratio of 34.51, a PEG ratio of 1.96 and a beta of 1.23.
Several research firms have recently commented on CNQ. ValuEngine downgraded shares of Canadian Natural Resource from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research downgraded shares of Canadian Natural Resource from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Royal Bank of Canada downgraded shares of Canadian Natural Resource from a “top pick” rating to an “outperform” rating and set a $38.40 price objective for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. CIBC began coverage on shares of Canadian Natural Resource in a research note on Friday, October 5th. They set a “sector outperform” rating for the company. Finally, Macquarie downgraded shares of Canadian Natural Resource from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Canadian Natural Resource presently has a consensus rating of “Hold” and an average target price of $48.68.
Canadian Natural Resource Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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