Canadian Natural Resources Limited (NYSE:CNQ) Short Interest Update

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 41,030,000 shares, an increase of 342.1% from the February 13th total of 9,280,000 shares. Based on an average daily volume of 6,250,000 shares, the days-to-cover ratio is presently 6.6 days. Currently, 2.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNQ. Duncker Streett & Co. Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in Canadian Natural Resources during the fourth quarter valued at $25,000. Continuum Advisory LLC boosted its holdings 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 purchasing an additional 490 shares during the last quarter. Sandy Spring Bank acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $31,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources during the 4th quarter valued at about $31,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ traded up $0.55 during trading hours on Friday, reaching $29.26. 1,754,084 shares of the company traded hands, compared to its average volume of 5,016,730. The stock has a market capitalization of $61.45 billion, a P/E ratio of 11.36 and a beta of 1.48. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $30.29 and a 200-day moving average price of $32.51. Canadian Natural Resources has a 12-month low of $25.62 and a 12-month high of $41.29.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a $0.4117 dividend. The ex-dividend date is Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.63%. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and an average price target of $63.00.

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).