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Is NYSE:CNQ suited for dividend investing?

By Mill Chart

Last update: Jan 10, 2024

CANADIAN NATURAL RESOURCES (NYSE:CNQ) was identified as a stock worth exploring by dividend investors by our stock screener. NYSE:CNQ scores well on profitability, solvency and liquidity. At the same time it seems to pay a decent dividend. We'll explore this a bit deeper below.

Dividend Assessment of NYSE:CNQ

An integral part of ChartMill's stock analysis is the Dividend Rating, which spans from 0 to 10. This rating evaluates diverse dividend factors, including yield, historical data, growth, and sustainability. NYSE:CNQ has received a 7 out of 10:

  • CNQ has a Yearly Dividend Yield of 4.50%, which is a nice return.
  • Compared to an average industry Dividend Yield of 7.15, CNQ pays a bit more dividend than its industry peers.
  • CNQ's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
  • The dividend of CNQ is nicely growing with an annual growth rate of 32.24%!
  • CNQ has been paying a dividend for at least 10 years, so it has a reliable track record.
  • CNQ has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.

Health Analysis for NYSE:CNQ

ChartMill employs its own Health Rating for stock assessment. This rating, ranging from 0 to 10, is calculated by examining various liquidity and solvency ratios. In the case of NYSE:CNQ, the assigned 5 reflects its health status:

  • CNQ's Altman-Z score of 2.91 is fine compared to the rest of the industry. CNQ outperforms 72.22% of its industry peers.
  • CNQ has a debt to FCF ratio of 1.90. This is a very positive value and a sign of high solvency as it would only need 1.90 years to pay back of all of its debts.
  • CNQ's Debt to FCF ratio of 1.90 is fine compared to the rest of the industry. CNQ outperforms 72.22% of its industry peers.
  • A Debt/Equity ratio of 0.29 indicates that CNQ is not too dependend on debt financing.
  • CNQ has a Debt to Equity ratio of 0.29. This is in the better half of the industry: CNQ outperforms 65.28% of its industry peers.

Exploring NYSE:CNQ's Profitability

ChartMill assigns a proprietary Profitability Rating to each stock. The score is computed by evaluating various profitability ratios and margins and ranges from 0 to 10. NYSE:CNQ was assigned a score of 5 for profitability:

  • CNQ's Profit Margin has improved in the last couple of years.
  • In the last couple of years the Operating Margin of CNQ has grown nicely.
  • In the last couple of years the Gross Margin of CNQ has grown nicely.

Our Best Dividend screener lists more Best Dividend stocks and is updated daily.

Our latest full fundamental report of CNQ contains the most current fundamental analsysis.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.

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CANADIAN NATURAL RESOURCES

NYSE:CNQ (5/24/2024, 7:20:31 PM)

After market: 76.61 0 (0%)

76.61

+1.24 (+1.65%)

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