Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.2794 per share by the oil and gas producer on Monday, July 1st. This represents a $1.12 annualized dividend and a yield of 4.11%. The ex-dividend date is Thursday, June 13th.
Canadian Natural Resources has raised its dividend payment by an average of 2.5% annually over the last three years and has increased its dividend every year for the last 7 years.
Shares of CNQ stock opened at $27.21 on Wednesday. Canadian Natural Resources has a 12-month low of $21.85 and a 12-month high of $37.41. The stock has a market cap of $32.51 billion, a P/E ratio of 12.66, a PEG ratio of 1.93 and a beta of 1.22. The company has a quick ratio of 0.57, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.31. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm posted $0.71 EPS. On average, equities research analysts expect that Canadian Natural Resources will post 2.31 EPS for the current fiscal year.
An institutional investor recently raised its position in Canadian Natural Resources stock. Geode Capital Management LLC increased its holdings in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,718 shares of the oil and gas producer’s stock after buying an additional 2,242 shares during the period. Geode Capital Management LLC’s holdings in Canadian Natural Resources were worth $282,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.
CNQ has been the subject of several analyst reports. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating and set a $27.83 price target for the company in a report on Wednesday, April 3rd. Scotiabank reissued a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, April 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, March 5th. Mizuho initiated coverage on shares of Canadian Natural Resources in a report on Monday, March 11th. They set a “buy” rating and a $45.00 price target for the company. Finally, Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a report on Friday, May 10th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.09.
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Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. 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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