Canadian Natural Resources Stock to Split on Tuesday, June 11th (NYSE:CNQ)

Shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ are going to split on the morning of Tuesday, June 11th. The 2-1 split was announced on Tuesday, June 11th. The newly minted shares will be distributed to shareholders after the closing bell on Tuesday, June 11th.

Canadian Natural Resources Stock Performance

NYSE CNQ traded up $1.24 during trading hours on Friday, reaching $76.61. The company's stock had a trading volume of 1,288,618 shares, compared to its average volume of 1,928,397. The company has a current ratio of 0.88, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $76.93 and a 200 day simple moving average of $69.35. Canadian Natural Resources has a 52 week low of $52.66 and a 52 week high of $82.58. The stock has a market cap of $82.14 billion, a PE ratio of 15.26 and a beta of 1.52.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its earnings results on Thursday, May 2nd. The oil and gas producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.02). Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.01 billion. Equities research analysts predict that Canadian Natural Resources will post 5.55 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.777 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.11 dividend on an annualized basis and a yield of 4.06%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.77. Canadian Natural Resources's dividend payout ratio (DPR) is currently 60.56%.

Analyst Upgrades and Downgrades

Separately, Desjardins cut Canadian Natural Resources from a "buy" rating to a "hold" rating in a report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.00.

Institutional Investors Weigh In On Canadian Natural Resources

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Canadian Natural Resources by 993.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer's stock valued at $13,535,000 after acquiring an additional 187,694 shares during the period. Cerity Partners LLC increased its stake in shares of Canadian Natural Resources by 556.7% during the fourth quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer's stock valued at $6,312,000 after acquiring an additional 81,669 shares during the period. Baskin Financial Services Inc. increased its stake in shares of Canadian Natural Resources by 3.5% during the fourth quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer's stock valued at $30,406,000 after acquiring an additional 15,546 shares during the period. Principal Financial Group Inc. increased its stake in shares of Canadian Natural Resources by 130.6% during the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer's stock valued at $10,292,000 after acquiring an additional 89,700 shares during the period. Finally, NewEdge Wealth LLC increased its stake in shares of Canadian Natural Resources by 10.8% during the fourth quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer's stock valued at $29,904,000 after acquiring an additional 44,568 shares during the period. Institutional investors own 74.03% of the company's stock.

About Canadian Natural Resources

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).