Canadian Natural Resources Limited (CNQ) to Issue Quarterly Dividend of C$0.63 on April 7th

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Thursday, March 5th. Investors of record on Friday, March 20th will be given a dividend of 0.625 per share by the oil and gas producer on Tuesday, April 7th. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Friday, March 20th. This is a 6.4% increase from Canadian Natural Resources’s previous quarterly dividend of $0.59.

Canadian Natural Resources has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 24 years. Canadian Natural Resources has a payout ratio of 75.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $1.83 annual dividend with an expected future payout ratio of 73.8%.

Canadian Natural Resources Stock Up 2.4%

Canadian Natural Resources stock opened at $46.43 on Friday. The firm has a market cap of $96.79 billion, a price-to-earnings ratio of 12.58 and a beta of 0.63. The firm has a fifty day moving average price of $37.85 and a two-hundred day moving average price of $34.09. Canadian Natural Resources has a fifty-two week low of $24.65 and a fifty-two week high of $46.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, March 5th. The oil and gas producer reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.64 billion. Canadian Natural Resources had a return on equity of 18.24% and a net margin of 24.48%.During the same period in the previous year, the company posted $0.93 earnings per share. As a group, analysts forecast that Canadian Natural Resources will post 2.45 earnings per share for the current year.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.