Canadian Natural Resources (TSX:CNQ) is among the largest companies in Canada. Valued at a market cap of almost $100 billion, CNQ stock has returned over 6,000% to shareholders in the last 30 years. However, after adjusting for dividend reinvestments, cumulative returns are much higher at 10,900%. So, an investment of $1,000 in CNQ stock would have returned close to $110,000 over a three-decade period, easily outpacing the broader markets.
Despite these outsized gains, CNQ stock trades almost 20% below all-time highs due to a volatile macro environment and lower commodity prices. The ongoing pullback has increased the TSX stock’s dividend yield to 4.5%.
So, let’s see if you should own this magnificent dividend stock at its current valuation.
Is CNQ stock a good investment right now?
Canadian Natural Resources develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids. It offers synthetic crude oil,…
