Short Interest in Canadian Natural Resources Limited (NYSE:CNQ) Decreases By 93.0%

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) saw 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. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 4,180,000 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Canadian Natural Resources

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

Analyst Ratings Changes

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

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $30.43 on Wednesday. The stock’s 50 day moving average price is $31.91 and its 200 day moving average price is $33.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock has a market cap of $63.99 billion, a price-to-earnings ratio of 11.82 and a beta of 1.46. Canadian Natural Resources has a 12 month low of $29.23 and a 12 month high of $41.29.

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

About Canadian Natural Resources

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).