Canadian Natural Resources Limited (NYSE:CNQ) Increases Dividend to $0.43 Per Share

Key Points

• Canadian Natural Resources Limited (NYSE:CNQ) announced a quarterly dividend increase to $0.43 per share, reflecting a 1.0% rise from the previous dividend of $0.42.
• The company has a payout ratio of 71.0% and expected earnings per share for the next year at $2.48, indicating it can sustain the current dividend.
• Canadian Natural Resources reported a quarterly profit of $0.51 per share, exceeding analysts' expectations, but had lower revenues of $6.39 billion compared to a consensus estimate of $8.97 billion.

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ declared a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Shareholders of record on Friday, September 19th will be paid a dividend of 0.4269 per share by the oil and gas producer on Friday, October 3rd. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, September 19th. This is a 1.0% increase from Canadian Natural Resources's previous quarterly dividend of $0.42.

Canadian Natural Resources has a payout ratio of 71.0% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.71 annual dividend with an expected future payout ratio of 69.0%.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down $0.11 during trading on Friday, hitting $30.32. 7,039,367 shares of the company were exchanged, compared to its average volume of 6,523,049. Canadian Natural Resources has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average price of $31.80 and a 200 day moving average price of $30.39. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 11.89 and a beta of 1.05.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last issued its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. During the same period in the prior year, the business earned $0.88 earnings per share. On average, equities analysts expect that Canadian Natural Resources will post 2.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Natural Resources

A number of hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in shares of Canadian Natural Resources during the second quarter valued at $27,000. Addison Advisors LLC lifted its stake in shares of Canadian Natural Resources by 309.1% in the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 677 shares during the period. Investment Management Corp VA ADV boosted its holdings in shares of Canadian Natural Resources by 158.3% in the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 611 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Canadian Natural Resources by 253.2% during the first quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer's stock valued at $40,000 after acquiring an additional 937 shares during the period. Finally, Sierra Ocean LLC boosted its stake in Canadian Natural Resources by 104.0% during the 1st quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

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