Canadian Natural Resources Limited (NYSE:CNQ) Plans $0.37 Quarterly Dividend

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Friday, August 6th, Wall Street Journal reports. Shareholders of record on Friday, September 17th will be paid a dividend of 0.3748 per share by the oil and gas producer on Tuesday, October 5th. This represents a $1.50 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Thursday, September 16th.

Canadian Natural Resources has increased its dividend payment by 50.2% over the last three years. Canadian Natural Resources has a dividend payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian Natural Resources to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.55 annual dividend with an expected future payout ratio of 42.1%.

Shares of CNQ stock opened at $34.02 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.78 and a quick ratio of 0.60. The company has a market capitalization of $40.36 billion, a P/E ratio of 12.51 and a beta of 1.89. The company’s 50-day simple moving average is $33.21 and its two-hundred day simple moving average is $32.97. Canadian Natural Resources has a one year low of $14.85 and a one year high of $38.10.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, August 5th. The oil and gas producer reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.22. Canadian Natural Resources had a net margin of 17.14% and a return on equity of 9.05%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.26 billion. On average, research analysts expect that Canadian Natural Resources will post 4.64 EPS for the current fiscal year.

A number of research firms have recently issued reports on CNQ. Stifel Nicolaus increased their price objective on shares of Canadian Natural Resources from C$60.00 to C$64.50 and gave the company a “buy” rating in a research note on Monday, June 28th. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. CIBC increased their price objective on shares of Canadian Natural Resources from C$48.00 to C$58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. The Goldman Sachs Group upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.00 to $44.00 in a research note on Friday, June 11th. Finally, TD Securities increased their price objective on shares of Canadian Natural Resources from C$52.00 to C$55.00 and gave the company a “buy” rating in a research note on Friday, August 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Buy” and an average target price of $50.10.

About Canadian Natural Resources

Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading; Midstream & Refining; and Exploration & Production.

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Dividend History for Canadian Natural Resources (NYSE:CNQ)

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