Canadian Natural Resources Limited (NYSE:CNQ) to Issue Quarterly Dividend of $0.41

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.4117 per share by the oil and gas producer on Friday, April 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.79%. 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 payment by an average of 28.9% annually over the last three years and has raised its dividend every year for the last 23 years. Canadian Natural Resources has a dividend payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. 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 $1.64 annual dividend with an expected future payout ratio of 66.1%.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded up $0.05 on Tuesday, hitting $28.43. The company's stock had a trading volume of 2,995,034 shares, compared to its average volume of 5,017,900. The company has a market capitalization of $59.73 billion, a price-to-earnings ratio of 11.03 and a beta of 1.48. The firm has a fifty day moving average price of $30.42 and a 200-day moving average price of $32.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources has a 1 year low of $25.62 and a 1 year high of $41.29.

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Analysts Set New Price Targets

CNQ has been the topic of several research analyst reports. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday. Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research report on Friday. Finally, Royal Bank of Canada upped their target price 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. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Hold" and a consensus 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).