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 given a dividend of 0.318 per share by the oil and gas producer on Monday, October 5th. This represents a $1.27 annualized dividend and a yield of 7.13%. The ex-dividend date is Thursday, September 17th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.30.

Canadian Natural Resources has increased its dividend payment by 58.4% over the last three years and has increased its dividend every year for the last 1 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%.

Canadian Natural Resources stock opened at $17.84 on Wednesday. The firm has a 50 day moving average of $19.33 and a 200 day moving average of $17.23. The firm has a market capitalization of $21.29 billion, a price-to-earnings ratio of 446.00 and a beta of 1.73. Canadian Natural Resources has a 12-month low of $6.71 and a 12-month high of $32.79. The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas producer reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.09). Canadian Natural Resources had a return on equity of 1.56% and a net margin of 0.33%. During the same period in the prior year, the company earned $0.87 earnings per share. On average, analysts predict that Canadian Natural Resources will post -0.58 EPS for the current year.

CNQ has been the subject of several recent analyst reports. Raymond James upped their price target on Canadian Natural Resources from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Barclays started coverage on Canadian Natural Resources in a research note on Wednesday, September 2nd. They issued an “overweight” rating and a $30.00 price target for the company. Zacks Investment Research upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday, July 30th. Credit Suisse Group reiterated an “outperform” rating and issued a $32.00 target price (up previously from $29.00) on shares of Canadian Natural Resources in a research note on Thursday, July 2nd. Finally, Morgan Stanley upgraded Canadian Natural Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $24.00 to $32.00 in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target 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.

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Dividend History for Canadian Natural Resources (NYSE:CNQ)

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