Canadian Natural Resources Limited (TSE:CNQ) Plans $0.53 Quarterly Dividend

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.525 per share on Friday, October 4th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, September 13th.

Canadian Natural Resources Trading Up 0.3 %

CNQ opened at C$43.95 on Thursday. The firm has a market capitalization of C$93.61 billion, a PE ratio of 12.49, a P/E/G ratio of 0.53 and a beta of 1.91. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The company’s 50-day moving average is C$48.15 and its 200 day moving average is C$77.26.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.04. The company had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. As a group, research analysts predict that Canadian Natural Resources will post 4.2311277 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. Company insiders own 4.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Canadian Natural Resources from C$60.00 to C$62.00 in a report on Friday, August 2nd. TD Securities boosted their price target on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group cut their target price on Canadian Natural Resources from C$110.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. Finally, Desjardins boosted their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and an average price target of C$90.88.

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).