Canadian Natural Resources Limited (CNQ) To Go Ex-Dividend on December 11th

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Wednesday, November 1st, Zacks reports. Shareholders of record on Tuesday, December 12th will be given a dividend of 0.214 per share by the oil and gas producer on Monday, January 1st. This represents a $0.86 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Monday, December 11th.

Canadian Natural Resources has increased its dividend by an average of 3.9% per year over the last three years and has raised its dividend every year for the last 5 years. Canadian Natural Resources has a dividend payout ratio of 152.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Canadian Natural Resources to earn $1.69 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 65.1%.

Canadian Natural Resources (CNQ) traded up $0.30 during midday trading on Wednesday, reaching $35.15. The company’s stock had a trading volume of 1,598,300 shares, compared to its average volume of 2,463,374. Canadian Natural Resources has a one year low of $27.52 and a one year high of $36.79. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $42,452.18, a price-to-earnings ratio of 38.30, a P/E/G ratio of 8.80 and a beta of 1.46.

Several research firms have weighed in on CNQ. Zacks Investment Research lowered Canadian Natural Resources from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Canaccord Genuity restated a “buy” rating and set a $53.00 target price on shares of Canadian Natural Resources in a report on Wednesday, November 8th. Finally, Morgan Stanley raised their target price on Canadian Natural Resources from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $45.90.

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Canadian Natural Resources 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.

Dividend History for Canadian Natural Resources (NYSE:CNQ)

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