10 Best Consistent Dividend Stocks To Invest In Right Now

8. Canadian Natural Resources Ltd (NYSE:CNQ)

Number of Hedge Fund Holders: 48

Canadian Natural Resources Ltd (NYSE:CNQ) ranks eighth on our list of the best dividend stocks. The Canadian oil and natural gas company. It stands out in the Canadian energy sector thanks to the diversity of its production operations. While it is widely recognized for its oil sands production, the company also holds assets in conventional heavy oil, light oil, offshore oil, natural gas, and natural gas liquids. In most instances, it fully owns these assets, allowing its management the agility to shift capital across its portfolio quickly and capitalize on the most promising market opportunities. the stock has surged by over 6% since the start of 2024.

In the third quarter of 2024, Canadian Natural Resources Ltd (NYSE:CNQ) reported revenue of $2.1 billion and its net earnings from operations came in at $2 billion. The company reported robust average production of approximately 1,363,000 BOE/d in Q3 2024, comprising 1,022,000 bbl/d of liquids and over 2.0 Bcf/d of natural gas.

Canadian Natural Resources Ltd (NYSE:CNQ) also grabs investors’ attention from a cash point of view. In the most recent quarter, the company generated over $3 billion in operating cash flow and $3.9 billion in adjusted funds flow. During the quarter, it returned $1.2 billion to shareholders through dividends.

On October 7, Canadian Natural Resources Ltd (NYSE:CNQ) declared a 7% hike in its quarterly dividend to C$0.5625 per share. This marked the company’s 26th consecutive year of dividend growth. The stock supports an attractive dividend yield of 4.83%, as of December 4.

Canadian Natural Resources Ltd (NYSE:CNQ) was a part of 48 hedge fund portfolios at the end of Q3 2024, up from 46 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a collective value of over $3.24 billion.