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

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

Wall Street Analyst Weigh In

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

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down $0.07 during mid-day trading on Wednesday, reaching $31.48. 8,322,576 shares of the stock were exchanged, compared to its average volume of 6,827,441. Canadian Natural Resources has a fifty-two week low of $29.23 and a fifty-two week high of $41.29. The company has a market cap of $66.21 billion, a price-to-earnings ratio of 12.23 and a beta of 1.46. The firm has a 50-day simple moving average of $32.39 and a 200 day simple moving average of $34.09. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

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 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.96 earnings per share. On average, sell-side analysts predict that Canadian Natural Resources will post 2.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Natural Resources

Several institutional investors have recently bought and sold shares of the business. Moloney Securities Asset Management LLC raised its holdings in shares of Canadian Natural Resources by 5.4% in the third quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer’s stock valued at $242,000 after buying an additional 376 shares during the last quarter. Measured Wealth Private Client Group LLC increased its position in Canadian Natural Resources by 4.1% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer’s stock valued at $337,000 after acquiring an additional 404 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 4.9% in the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares during the last quarter. Pitcairn Co. lifted its position in shares of Canadian Natural Resources by 1.3% during the third quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after purchasing an additional 475 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

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).