Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Thursday, March 1st, Zacks reports. Stockholders of record on Friday, March 16th will be paid a dividend of 0.261 per share by the oil and gas producer on Sunday, April 1st. This represents a $1.04 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, March 15th. This is a boost from Canadian Natural Resource’s previous quarterly dividend of $0.21.
Canadian Natural Resource has raised its dividend by an average of 0.8% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Canadian Natural Resource has a dividend payout ratio of 117.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Canadian Natural Resource (NYSE CNQ) opened at $29.96 on Wednesday. The firm has a market capitalization of $36,908.99, a PE ratio of 0.10, a PEG ratio of 2.53 and a beta of 1.38. The company has a quick ratio of 0.64, a current ratio of 0.78 and a debt-to-equity ratio of 0.65. Canadian Natural Resource has a 1-year low of $27.52 and a 1-year high of $37.63.
CNQ has been the subject of several analyst reports. UBS Group initiated coverage on Canadian Natural Resource in a report on Wednesday, March 7th. They issued a “buy” rating for the company. Zacks Investment Research cut Canadian Natural Resource from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Morgan Stanley raised their price objective on Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. AltaCorp Capital restated a “buy” rating and issued a $52.00 price objective on shares of Canadian Natural Resource in a report on Monday, January 15th. Finally, Wells Fargo & Co cut Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.67.
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Canadian Natural Resource Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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