Canadian Natural Resources (CNQ) is a Top Dividend Stock Right Now: Should You Buy?

Company Overview - Canadian Natural Resources (CNQ) is based in Calgary, Alberta, Canada, and operates in the Oils-Energy sector [3] - The company's shares have experienced a price change of 15.64% this year [3] Dividend Information - CNQ currently pays a dividend of $0.77 per share, resulting in a dividend yield of 4.08%, which is significantly higher than the Oil and Gas - Exploration and Production - Canadian industry's yield of 1.7% and the S&P 500's yield of 1.58% [3] - The annualized dividend of $3.09 represents a 13.4% increase from the previous year [4] - Over the last 5 years, CNQ has increased its dividend 5 times year-over-year, averaging an annual increase of 27.34% [4] - The current payout ratio for CNQ is 56%, indicating that the company pays out 56% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - The Zacks Consensus Estimate for CNQ's earnings in 2024 is $5.75 per share, reflecting a year-over-year growth rate of 0.35% [5] Investment Considerations - CNQ is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [7]