Canadian Natural Resources Ltd (CNQ) Raises Dividend to $0.38 Per Share

Canadian Natural Resources Ltd (TSE:CNQ) (NYSE:CNQ) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.375 per share on Monday, July 1st. This represents a $1.50 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, June 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.34.

TSE CNQ traded up C$0.38 during trading hours on Friday, reaching C$35.50. The company’s stock had a trading volume of 2,494,300 shares, compared to its average volume of 3,688,175. The stock has a market cap of $42.41 billion and a price-to-earnings ratio of 14.50. Canadian Natural Resources has a fifty-two week low of C$30.11 and a fifty-two week high of C$49.08. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 69.97.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.45 by C$0.20. The business had revenue of C$5.25 billion during the quarter, compared to analyst estimates of C$4.99 billion. As a group, research analysts expect that Canadian Natural Resources will post 3.0299999 earnings per share for the current year.

A number of brokerages recently commented on CNQ. Evercore raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating and set a C$48.00 price objective on the stock in a research note on Wednesday, April 3rd. Raymond James set a C$46.00 price objective on shares of Canadian Natural Resources and gave the company an “outperform” rating in a research note on Thursday, May 30th. CIBC increased their price objective on shares of Canadian Natural Resources from C$45.00 to C$49.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. increased their price objective on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a research note on Thursday, May 30th. Finally, Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from C$45.00 to C$46.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a buy rating, Canadian Natural Resources has an average rating of “Buy” and a consensus price target of C$48.00.

In other Canadian Natural Resources news, Senior Officer Kendall W. Stagg sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of C$39.67, for a total value of C$198,350.00. Following the transaction, the insider now directly owns 77,421 shares in the company, valued at approximately C$3,071,291.07.

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Canadian Natural Resources Company Profile

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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Dividend History for Canadian Natural Resources (TSE:CNQ)

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