Canadian Natural (CNQ) Q1 Earnings Beat, Revenues Fall Y/Y

Canadian Natural Resources Limited CNQ reported first-quarter 2023 adjusted earnings per share of $1.25, which outpaced the Zacks Consensus Estimate of $1.20. This can be attributed to the year-over-year improvement in production.

The bottom line, however, declined from the year-ago quarter’s figure of $2.26.

Total revenues of $6.4 billion depreciated from $8.4 billion recorded in the prior-year period. The figure also missed the Zacks Consensus Estimate of $6.6 billion due to a reduction in oil and natural gas prices.

CNQ’s board of directors announced a quarterly cash dividend of 90 Canadian cents per common share. The dividend will be payable on Jul 5, 2023, to shareholders of record at the close of business on Jun 16, 2023.

Canadian Natural Resources Limited Price, Consensus and EPS Surprise

Canadian Natural Resources Limited price-consensus-eps-surprise-chart | EPM, sporting a Zacks Rank #1 (Strong Buy), and Archrock AROC and Ranger Energy Services RNGR, both holding a Zacks Rank #2 (Buy) at present. .

Evolution Petroleum: EPM is worth approximately $219.16 million. EPM currently pays a dividend of 48 cents per share, or 7.38%, on an annual basis.

The company currently has a forward P/E ratio of 6.07. In comparison, its industry has an average forward P/E of 7.50, which means EPM is trading at a discount to the group.

Archrock: AROC is valued at around $1.55 billion. It delivered an average earnings surprise of 26.27% for the last four quarters and its current dividend yield is 6.06%.

Archrock is a provider of natural gas contract compression services and aftermarket services of compression equipment.

Ranger Energy Services: RNGR is valued at around $183.61 million. In the past year, its shares have gained 13.8%.

Ranger Energy Services currently has a forward P/E ratio of 5.30. In comparison, its industry has an average forward P/E of 11.60, which means RNGR is trading at a discount to the group.