Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) announced a quarterly dividend on Friday, August 7th, Wall Street Journal reports. Investors of record on Friday, September 18th will be paid a dividend of 0.318 per share by the oil and gas producer on Monday, October 5th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend is Thursday, September 17th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.30.

Canadian Natural Resources has increased its dividend by 58.4% over the last three years and has raised its dividend annually for the last 1 consecutive years. Canadian Natural Resources has a dividend payout ratio of -176.4% indicating that 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 $0.49 per share next year, which means the company may not be able to cover its $1.27 annual dividend with an expected future payout ratio of 259.2%.

Shares of NYSE CNQ opened at $17.84 on Wednesday. The stock has a market cap of $21.29 billion, a PE ratio of 446.00 and a beta of 1.73. The company has a quick ratio of 0.60, a current ratio of 0.83 and a debt-to-equity ratio of 0.65. Canadian Natural Resources has a 52-week low of $6.71 and a 52-week high of $32.79. The business has a 50-day moving average price of $19.33 and a 200 day moving average price of $17.23.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, August 6th. The oil and gas producer reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.09). Canadian Natural Resources had a net margin of 0.33% and a return on equity of 1.56%. During the same period last year, the firm earned $0.87 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources will post -0.58 earnings per share for the current year.

A number of analysts have weighed in on the company. Zacks Investment Research raised Canadian Natural Resources from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Thursday, July 30th. Stifel Nicolaus increased their price objective on Canadian Natural Resources from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Credit Suisse Group reaffirmed an “outperform” rating and set a $32.00 price objective (up from $29.00) on shares of Canadian Natural Resources in a research report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on Canadian Natural Resources from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. Finally, Tudor Pickering reissued a “buy” rating and issued a $29.00 price target on shares of Canadian Natural Resources in a report on Friday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $34.44.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Further Reading: Limitations of the P/E Growth ratio

Dividend History for Canadian Natural Resources (NYSE:CNQ)

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