RBC Capital Raises Canadian Natural Resources (CNQ) Price Target on Leadership and Shareholder Alignment

Canadian Natural Resources Limited (NYSE:CNQ) is included among the 14 Low PE High Dividend Stocks to Buy Right Now.

On March 6, RBC Capital raised its price recommendation on Canadian Natural Resources Limited (NYSE:CNQ) to C$65 from C$61. The firm reiterated an Outperform rating on the shares. The analyst said the firm’s bullish view reflects the company’s leadership team, strong alignment with shareholders, and operating performance that ranks among the best in the sector. The comments were shared in a research note to investors.

A day earlier, on March 5, the company said its Board of Directors approved a 6.4% increase in the quarterly cash dividend on its common shares. The dividend will rise to $0.625 per common share, up from the previous quarterly cash dividend of $0.5875 per common share.

The company also highlighted its long history of dividend growth. The increase marks the 26th consecutive year of dividend increases, with a compound annual growth rate of 20% over that period. Management said this record reflects the confidence the Board of Directors has in the sustainability of the company’s business model, its strong balance sheet, and the strength of its diverse, long-life, low-decline reserves and asset base.

Canadian Natural Resources Limited (NYSE:CNQ) 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.

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