Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Thursday, November 1st, Zacks reports. Investors of record on Monday, December 10th will be paid a dividend of 0.255 per share by the oil and gas producer on Tuesday, January 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, December 7th.
Canadian Natural Resources has increased its dividend payment by an average of 0.8% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Canadian Natural Resources has a payout ratio of 51.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Canadian Natural Resources to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 60.6%.
Canadian Natural Resources stock opened at $27.03 on Thursday. Canadian Natural Resources has a 12-month low of $24.02 and a 12-month high of $38.20. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $32.79 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 1.69 and a beta of 1.34.
A number of research analysts have issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 target price on shares of Canadian Natural Resources in a research report on Tuesday, November 20th. CIBC assumed coverage on Canadian Natural Resources in a research report on Friday, October 5th. They issued a “sector outperform” rating on the stock. Macquarie upgraded Canadian Natural Resources from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Morgan Stanley decreased their target price on Canadian Natural Resources from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 20th. Finally, ValuEngine cut Canadian Natural Resources from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $46.08.
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About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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