Canadian Natural Resources Limited (NYSE:CNQ) Declares Quarterly Dividend of $0.78

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, June 17th will be given a dividend of 0.777 per share by the oil and gas producer on Friday, July 5th. This represents a $3.11 annualized dividend and a yield of 4.16%. The ex-dividend date is Monday, June 17th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.77.

Canadian Natural Resources has raised its dividend payment by an average of 29.6% annually over the last three years and has increased its dividend every year for the last 17 years. Canadian Natural Resources has a payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Canadian Natural Resources to earn $6.88 per share next year, which means the company should continue to be able to cover its $3.10 annual dividend with an expected future payout ratio of 45.1%.

Canadian Natural Resources Stock Down 0.3 %

Canadian Natural Resources stock opened at $74.64 on Friday. Canadian Natural Resources has a 52 week low of $52.66 and a 52 week high of $82.58. The stock has a market cap of $80.02 billion, a price-to-earnings ratio of 13.47 and a beta of 1.52. The company’s 50-day moving average price is $75.04 and its two-hundred day moving average price is $68.06. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25.

Canadian Natural Resources’s stock is scheduled to split on Tuesday, June 11th. The 2-1 split was announced on Tuesday, June 11th. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, June 11th.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The business had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. On average, analysts expect that Canadian Natural Resources will post 5.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CNQ. JPMorgan Chase & Co. boosted their target price on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.00.

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).