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Canadian Natural Resources Limited (NYSE:CNQ) is included among the 15 Dividend Growth Stocks with the Highest Growth Rates.
Canadian Natural Resources Limited (NYSE:CNQ) stands among the largest players in Canada’s oil and gas industry, with vast reserves and operations spanning oil sands, heavy and light crude, offshore sites, and natural gas production.
On October 17, Wells Fargo began coverage of Canadian Natural Resources Limited (NYSE:CNQ) with an Equal Weight rating and a C$47 price target. The firm launched coverage on the broader group of global integrated oil companies, Canadian majors, and refiners, noting that widespread bearish sentiment toward oil and energy stocks may actually open up investment opportunities.
According to the research note, Wells Fargo’s stock selection focuses on companies’ return of capital strategies, which it views as a key driver of relative performance across the sector. While demand indicators remain soft, the firm highlighted that trends in US onshore activity could help offset supply concerns.
Backed by a solid balance sheet, Canadian Natural Resources Limited (NYSE:CNQ) is well-positioned to weather periods of weak energy prices and pursue major acquisitions when opportunities arise. This financial strength has allowed the company to consistently return value to shareholders over the years.
Canadian Natural Resources Limited (NYSE:CNQ) is one of the best dividend stocks, as the company has been growing its payouts for 25 consecutive years. The company’s quarterly dividend comes in at C$0.5875 per share and has a dividend yield of 5.34%, as of October 30.
While we acknowledge the potential of CNQ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 13 Most Undervalued Dividend Stocks to Buy According to Wall Street Analysts and 11 Best FTSE Dividend Stocks to Buy Right Now.
Disclosure: None.
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