Canadian Natural Resources (NYSE:CNQ) Shares to Split on Tuesday, June 11th

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) shares are scheduled to split before the market opens on Tuesday, June 11th. The 2-1 split was announced on Tuesday, June 11th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, June 11th.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $76.61 on Friday. Canadian Natural Resources has a 12 month low of $52.66 and a 12 month high of $82.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61. The business has a 50 day simple moving average of $76.93 and a 200-day simple moving average of $69.31. The stock has a market capitalization of $82.14 billion, a PE ratio of 15.26 and a beta of 1.52.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.02). Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Equities analysts predict that Canadian Natural Resources will post 5.55 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.777 per share. This represents a $3.11 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, June 17th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.77. Canadian Natural Resources’s dividend payout ratio is 61.55%.

Wall Street Analyst Weigh In

Separately, Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $94.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNQ. Central Bank & Trust Co. acquired a new position in Canadian Natural Resources during the fourth quarter worth $26,000. GAMMA Investing LLC acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $27,000. Principal Securities Inc. acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $35,000. Bruce G. Allen Investments LLC grew its holdings in Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 245 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in Canadian Natural Resources in the first quarter valued at $37,000. Institutional investors and hedge funds 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).