Canadian Natural Resources Limited (NYSE:CNQ – Get Rating) (TSE:CNQ) announced a — dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Tuesday, August 23rd will be paid a dividend of 1.50 per share by the oil and gas producer on Wednesday, August 31st. This represents a yield of 4.5%. The ex-dividend date of this dividend is Monday, August 22nd.
Canadian Natural Resources has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Canadian Natural Resources to earn $7.62 per share next year, which means the company should continue to be able to cover its $2.33 annual dividend with an expected future payout ratio of 30.6%.
Canadian Natural Resources Price Performance
Shares of CNQ opened at $52.00 on Friday. Canadian Natural Resources has a fifty-two week low of $29.53 and a fifty-two week high of $70.60. The firm’s 50 day moving average price is $55.25 and its 200 day moving average price is $57.79. The company has a market cap of $59.14 billion, a P/E ratio of 6.82, a PEG ratio of 0.50 and a beta of 1.50. The company has a quick ratio of 0.57, a current ratio of 0.75 and a debt-to-equity ratio of 0.29.
Institutional Trading of Canadian Natural Resources
Large investors have recently bought and sold shares of the business. Power Corp of Canada acquired a new stake in Canadian Natural Resources during the 1st quarter worth $61,000. Lido Advisors LLC acquired a new stake in Canadian Natural Resources during the 1st quarter worth $209,000. Quantbot Technologies LP acquired a new stake in Canadian Natural Resources during the 1st quarter worth $216,000. Sequoia Financial Advisors LLC acquired a new stake in Canadian Natural Resources during the 1st quarter worth $236,000. Finally, Engineers Gate Manager LP acquired a new stake in Canadian Natural Resources during the 1st quarter worth $243,000. Institutional investors and hedge funds own 68.45% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Credit Suisse Group upped their target price on shares of Canadian Natural Resources from C$85.00 to C$93.00 in a research note on Monday, May 9th. Bank of America raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, July 19th. National Bank Financial dropped their price objective on shares of Canadian Natural Resources from C$115.00 to C$100.00 in a research report on Monday, July 18th. CIBC increased their price objective on shares of Canadian Natural Resources from C$80.00 to C$90.00 in a research report on Thursday, April 14th. Finally, Stifel Nicolaus increased their price objective on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a research report on Thursday, June 30th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus price target of $86.79.
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 synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.
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