Canadian Natural Resources Limited (NYSE:CNQ) Sees Significant Drop in Short Interest

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 7,620,000 shares, a decrease of 93.0% from the December 31st total of 109,510,000 shares. Based on an average daily trading volume, of 4,180,000 shares, the short-interest ratio is currently 1.8 days. Approximately 0.4% of the shares of the stock are short sold.

Canadian Natural Resources Stock Down 1.8 %

Canadian Natural Resources stock traded down $0.55 during midday trading on Tuesday, hitting $30.43. 4,563,174 shares of the company’s stock were exchanged, compared to its average volume of 6,530,875. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a 50-day moving average of $31.91 and a two-hundred day moving average of $33.79. Canadian Natural Resources has a 12 month low of $29.23 and a 12 month high of $41.29. The company has a market cap of $63.99 billion, a PE ratio of 11.82 and a beta of 1.46.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, analysts expect that Canadian Natural Resources will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Trading of Canadian Natural Resources

Several institutional investors have recently made changes to their positions in the company. Continuum Advisory LLC lifted its stake in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares during the last quarter. Coastline Trust Co acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth $33,000. R Squared Ltd purchased a new position in Canadian Natural Resources in the fourth quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new position in Canadian Natural Resources during the third quarter worth $37,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).