Canadian Natural Resources Limited (CNQ) to Issue Quarterly Dividend of $0.78 on July 5th

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, June 17th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.77.

Canadian Natural Resources has raised its dividend by an average of 29.6% per year over the last three years and has raised its dividend every year for the last 17 years. Canadian Natural Resources has a dividend 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 %

CNQ stock opened at $74.64 on Friday. The stock has a market capitalization of $80.02 billion, a P/E ratio of 13.47 and a beta of 1.52. Canadian Natural Resources has a 52 week low of $52.66 and a 52 week high of $82.58. The firm has a 50-day simple moving average of $75.04 and a 200-day simple moving average of $68.06. The company has a quick ratio of 0.69, a current ratio of 0.96 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 market closes on Tuesday, June 11th.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CNQ shares. JPMorgan Chase & Co. boosted their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Desjardins lowered 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.00.

About Canadian Natural Resources

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).