Canadian Natural Resources Limited (NYSE:CNQ – Get Free Report) (TSE:CNQ)’s stock price was up 3.7% during trading on Monday following a dividend announcement from the company. The company traded as high as $36.88 and last traded at $36.87. Approximately 1,534,267 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 5,515,589 shares. The stock had previously closed at $35.55.
The newly announced dividend which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.388 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.25%. Canadian Natural Resources’s payout ratio is currently 61.75%.
Wall Street Analyst Weigh In
CNQ has been the subject of several recent research reports. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday. Wolfe Research initiated coverage on shares of Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.50.
Canadian Natural Resources Trading Up 0.5 %
The company has a market cap of $77.77 billion, a PE ratio of 14.49 and a beta of 1.50. The stock’s 50 day moving average is $34.65 and its 200-day moving average is $36.25. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last released its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The company had revenue of $7.76 billion for the quarter, compared to the consensus estimate of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.47 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Canadian Natural Resources by 0.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,774 shares of the oil and gas producer’s stock worth $1,662,000 after purchasing an additional 204 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 245 shares during the last quarter. Cloverfields Capital Group LP grew its holdings in shares of Canadian Natural Resources by 0.8% in the first quarter. Cloverfields Capital Group LP now owns 32,017 shares of the oil and gas producer’s stock worth $2,444,000 after purchasing an additional 253 shares during the last quarter. Naples Global Advisors LLC grew its holdings in Canadian Natural Resources by 4.5% during the 1st quarter. Naples Global Advisors LLC now owns 6,410 shares of the oil and gas producer’s stock worth $494,000 after acquiring an additional 277 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in Canadian Natural Resources by 1.1% during the 1st quarter. Burgundy Asset Management Ltd. now owns 29,908 shares of the oil and gas producer’s stock worth $2,282,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.
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).
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