15 Best Low Priced Dividend Stocks to Buy Now

5. Canadian Natural Resources Limited (NYSE:CNQ)

Share Price as of the Close of March 17: $29.86

Forward P/E Ratio as of March 17: 13.02

Canadian Natural Resources Limited (NYSE:CNQ) is a Canadian oil and natural gas company with operations in Western Canada, the UK portion of the North Sea, and Offshore Africa. The company has been actively expanding through strategic acquisitions, capitalizing on opportunities to enhance its future cash flow. The company finalized its purchase of Chevron’s Alberta assets at the end of 2024, which included a 20% stake in the Athabasca Oil Sands Project (AOSP) and a 70% operated interest in light crude oil and liquids-rich natural gas assets within the Duvernay play.

The year 2024 was a milestone for Canadian Natural Resources Limited (NYSE:CNQ), as it achieved record-breaking annual average production of over 1.36 million barrels of oil equivalent per day (boed), including an all-time high in annual liquids production, exceeding one million barrels per day. Financially, the company delivered strong results, reporting an adjusted earnings per share of C$2.34 in the fourth quarter, surpassing analysts’ expectations of C$2.15.

Canadian Natural Resources Limited (NYSE:CNQ)’s cash position also remained stable. In the most recent quarter, the company generated over $3.4 billion in operating cash flow, up from $3 billion in the previous quarter. Its free cash flow at the end of FY24 came in at $4.5 billion. This cash generation allowed the company to return $1.7 billion to shareholders through dividends and share repurchases.

On March 6, Canadian Natural Resources Limited (NYSE:CNQ) declared a 4.4% hike in its quarterly dividend to C$0.5875 per share. This marked the company’s 25th consecutive year of dividend growth. During this period, it has raised its payouts at a CAGR of 21%. The stock supports a dividend yield of 5.51%, as of March 17.