Canadian Natural Resources Limited (TSE:CNQ) Declares Quarterly Dividend of $0.53

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.525 per share on Friday, October 4th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, September 13th.

Canadian Natural Resources Stock Performance

Shares of TSE CNQ opened at C$43.95 on Thursday. The stock’s 50-day moving average is C$48.15 and its 200 day moving average is C$77.26. The stock has a market cap of C$93.61 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.53 and a beta of 1.91. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. On average, sell-side analysts anticipate that Canadian Natural Resources will post 4.2311277 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CNQ shares. Raymond James cut their price target on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. Scotiabank dropped their target price on Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating for the company in a report on Tuesday, June 11th. Jefferies Financial Group decreased their price target on Canadian Natural Resources from C$110.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Finally, TD Securities lifted their target price on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and a consensus target price of C$90.88.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$48.43, for a total value of C$181,612.50. Corporate insiders own 4.24% of the company’s stock.

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).