Canadian Natural Resources Limited (NYSE:CNQ) Stock Short Interest Report for October

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 59,387,363 shares, a drop of 49.3% from the September 30th total of 117,144,565 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average trading volume of 5,073,756 shares, the days-to-cover ratio is currently 11.7 days.

Analyst Ratings Changes

A number of brokerages have recently commented on CNQ. Wall Street Zen raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Raymond James Financial downgraded shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 14th. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Finally, Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Institutional Investors Weigh In On Canadian Natural Resources

Hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont acquired a new position in Canadian Natural Resources during the second quarter worth approximately $26,000. Financial Management Professionals Inc. raised its stake in Canadian Natural Resources by 280.7% in the third quarter. Financial Management Professionals Inc. now owns 552 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 407 shares during the period. CX Institutional bought a new stake in Canadian Natural Resources in the second quarter valued at approximately $28,000. Axiom Investment Management LLC bought a new stake in Canadian Natural Resources in the first quarter valued at approximately $29,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Canadian Natural Resources in the third quarter valued at approximately $30,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 2.0%

CNQ stock traded up $1.11 during mid-day trading on Friday, reaching $56.20. The company had a trading volume of 7,258,112 shares, compared to its average volume of 5,379,980. The company has a market capitalization of $115.49 billion, a price-to-earnings ratio of 13.88 and a beta of 0.53. Canadian Natural Resources has a 52 week low of $30.13 and a 52 week high of $56.27. The stock has a 50 day simple moving average of $50.76 and a two-hundred day simple moving average of $45.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.75.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.15. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. The company had revenue of $14.74 billion for the quarter, compared to analysts’ expectations of $9.40 billion. As a group, equities analysts predict that Canadian Natural Resources will post 4.10 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were paid a dividend of C$0.62 per share. The ex-dividend date was Friday, September 11th. This represents a $2.50 annualized dividend and a dividend yield of 4.4%. Canadian Natural Resources’s payout ratio is currently 44.44%.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.