Canadian Natural Resources Limited (CNQ) To Go Ex-Dividend on March 21st

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Investors of record on Friday, March 21st will be given a dividend of 0.4117 per share by the oil and gas producer on Friday, April 4th. This represents a $1.65 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Friday, March 21st. This is a 6.1% increase from Canadian Natural Resources’s previous quarterly dividend of $0.39.

Canadian Natural Resources has raised its dividend by an average of 28.9% annually over the last three years and has raised its dividend annually for the last 24 consecutive years. Canadian Natural Resources has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Canadian Natural Resources to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.63 annual dividend with an expected future payout ratio of 65.7%.

Canadian Natural Resources Trading Up 0.4 %

CNQ stock opened at $29.96 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The company’s 50-day simple moving average is $30.14 and its 200 day simple moving average is $32.30. Canadian Natural Resources has a 52 week low of $25.62 and a 52 week high of $41.29. The company has a market capitalization of $62.92 billion, a PE ratio of 11.63 and a beta of 1.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and an average price target of $63.00.

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).