Canadian Natural Resources Limited (NYSE:CNQ) Plans C$0.62 Quarterly Dividend

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) declared a quarterly dividend on Thursday, August 6th. Investors of record on Friday, September 11th will be paid a dividend of 0.625 per share by the oil and gas producer on Friday, October 2nd. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, September 11th.

Canadian Natural Resources has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 24 consecutive years. Canadian Natural Resources has a dividend payout ratio of 75.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Canadian Natural Resources to earn $3.57 per share next year, which means the company should continue to be able to cover its $1.81 annual dividend with an expected future payout ratio of 50.7%.

Canadian Natural Resources Trading Up 1.7%

CNQ opened at $45.51 on Friday. Canadian Natural Resources has a 1-year low of $29.30 and a 1-year high of $51.34. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. The company has a market cap of $94.17 billion, a P/E ratio of 13.59 and a beta of 0.46. The company has a fifty day moving average price of $43.60 and a two-hundred day moving average price of $44.12.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.15. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. Analysts predict that Canadian Natural Resources will post 3.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Natural Resources

Several large investors have recently added to or reduced their stakes in CNQ. Bank of New York Mellon Corp bought a new stake in Canadian Natural Resources during the 2nd quarter worth approximately $117,215,000. Cardinal Capital Management Inc. lifted its holdings in shares of Canadian Natural Resources by 82.3% in the second quarter. Cardinal Capital Management Inc. now owns 8,685 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 3,920 shares in the last quarter. Steadtrust LLC lifted its holdings in shares of Canadian Natural Resources by 1.0% in the second quarter. Steadtrust LLC now owns 39,380 shares of the oil and gas producer’s stock valued at $1,556,000 after purchasing an additional 400 shares in the last quarter. Wealth Science Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 129.9% in the second quarter. Wealth Science Advisors LLC now owns 18,028 shares of the oil and gas producer’s stock valued at $712,000 after purchasing an additional 10,185 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Canadian Natural Resources by 28.2% during the second quarter. Valeo Financial Advisors LLC now owns 5,904 shares of the oil and gas producer’s stock valued at $233,000 after buying an additional 1,297 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

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.