Canadian Natural Resources Limited (NYSE:CNQ) Raises Dividend to C$0.63 Per Share

Canadian Natural Resources Limited (NYSE:CNQGet Free Report) (TSE:CNQ) announced a quarterly dividend on Thursday, March 5th. Stockholders of record on Friday, March 20th will be paid a dividend of 0.625 per share by the oil and gas producer on Tuesday, April 7th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, March 20th. This is a 6.4% increase from Canadian Natural Resources’s previous quarterly dividend of $0.59.

Canadian Natural Resources has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 24 consecutive years. Canadian Natural Resources has a payout ratio of 69.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 $1.68 annual dividend with an expected future payout ratio of 67.7%.

Canadian Natural Resources Price Performance

NYSE CNQ traded up $1.13 on Thursday, hitting $45.31. 11,883,319 shares of the company were exchanged, compared to its average volume of 9,883,290. Canadian Natural Resources has a 1-year low of $24.65 and a 1-year high of $45.92. The firm has a 50 day moving average of $37.33 and a two-hundred day moving average of $33.89. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. The company has a market cap of $94.45 billion, a P/E ratio of 20.05 and a beta of 0.63.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last announced its earnings results on Thursday, March 5th. The oil and gas producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.29. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same period in the prior year, the firm earned $0.93 earnings per share. On average, equities analysts predict that Canadian Natural Resources will post 2.45 EPS for the current year.

Canadian Natural Resources News Summary

Here are the key news stories impacting Canadian Natural Resources this week:

Canadian Natural Resources Company Profile

(Get Free Report)

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

Featured Articles

Dividend History for Canadian Natural Resources (NYSE:CNQ)

Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.