Canadian Natural Resources Limited (NYSE:CNQ) Raises 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. Stockholders 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) annualized dividend and a dividend yield of 5.7%. 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 dividend payout ratio of 71.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.2%

Shares of NYSE CNQ traded down $0.07 during mid-day trading on Wednesday, hitting $29.83. The company had a trading volume of 577,102 shares, compared to its average volume of 6,455,868. The company has a market capitalization of $62.31 billion, a PE ratio of 10.58 and a beta of 1.05. The firm has a 50-day simple moving average of $31.75 and a two-hundred day simple moving average of $30.35. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38. Canadian Natural Resources has a one year low of $24.65 and a one year high of $37.91.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. The company had revenue of $6.39 billion during the quarter, compared to analysts' expectations of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%. During the same quarter last year, the company earned $0.88 EPS. On average, equities analysts expect that Canadian Natural Resources will post 2.45 EPS for the current year.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of Canadian Natural Resources in the second quarter valued at approximately $27,000. Addison Advisors LLC boosted its stake in shares of Canadian Natural Resources by 309.1% in the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 677 shares during the period. Investment Management Corp VA ADV boosted its stake 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 buying an additional 611 shares during the period. Versant Capital Management Inc boosted its stake in shares of Canadian Natural Resources by 253.2% in 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 buying an additional 937 shares during the period. Finally, Sierra Ocean LLC boosted its stake in shares of Canadian Natural Resources by 104.0% in the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 800 shares during the period. Institutional investors own 74.03% of the company's stock.

About Canadian Natural Resources

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).