10 Energy Stocks with Highest Dividends

7. Canadian Natural Resources Limited (NYSE:CNQ)

Dividend Yield as of June 30: 4.45%

Next on our list of the Energy Stocks with Highest Dividends is Canadian Natural Resources Limited (NYSE:CNQ). It is a senior crude oil and natural gas production company with continuing operations in its core areas located in Western Canada, the UK portion of the North Sea, and offshore Africa.

On June 26, Scotiabank assumed coverage of Canadian Natural Resources Limited (NYSE:CNQ) with a ‘Sector Perform’ rating and a price objective of C$72, indicating an upside of over 28% from the current levels.

The initiation is part of Scotiabank’s broader launch of coverage across the Canadian energy sector, which includes six large-cap E&P and royalty companies and six small-to-mid-cap E&P companies. The analyst firm stated that although the Canadian oil and gas sector has significantly outperformed since the beginning of 2026, it continues to see attractive opportunities in select companies.

Canadian Natural Resources Limited (NYSE:CNQ) has grown its dividend for 26 consecutive years, with a CAGR of 20% over that time. The company moved its net debt below the $16 billion level in the first quarter and increased its pace of share repurchases, evident by the $309 million of buybacks in April 2026. The company is now targeting a net debt level of $13 billion, at which time it will increase returns to shareholders to 100% of free cash flow.