Canadian Natural Resources Limited (TSE:CNQ) to Issue $0.53 Quarterly Dividend

by · The Cerbat Gem

Canadian Natural Resources Limited (TSE:CNQ – Get Free Report) (NYSE:CNQ) announced a quarterly dividend on Monday, October 7th, Zacks reports. Investors of record on Friday, December 13th will be given a dividend of 0.525 per share on Friday, January 3rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, December 13th.

Canadian Natural Resources Stock Performance

CNQ opened at C$49.61 on Wednesday. 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 has a 12-month low of C$40.02 and a 12-month high of C$56.49. The firm has a 50 day moving average of C$47.03 and a two-hundred day moving average of C$70.84. The firm has a market capitalization of C$105.67 billion, a PE ratio of 14.11, a P/E/G ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.04. The company had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. On average, analysts anticipate that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. 4.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$56.00 to C$59.00 in a report on Tuesday. TD Securities raised their target price on Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating for the company in a report on Monday, September 16th. Finally, Gerdes Energy Research raised their price objective on Canadian Natural Resources from C$52.00 to C$53.00 in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$78.53.

Check Out Our Latest Report on Canadian Natural Resources

Canadian Natural Resources Company Profile

(Get Free Report)

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).

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