Short Interest in Canadian Natural Resources Limited (NYSE:CNQ) Increases By 229.2%

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 107,420,000 shares, an increase of 229.2% from the February 29th total of 32,630,000 shares. Based on an average daily volume of 2,930,000 shares, the short-interest ratio is presently 36.7 days. Currently, 10.2% of the company’s stock are short sold.

Canadian Natural Resources Stock Up 0.9 %

NYSE CNQ traded up $0.67 during trading hours on Thursday, reaching $76.14. 955,891 shares of the company’s stock were exchanged, compared to its average volume of 2,972,267. The company has a market capitalization of $81.75 billion, a price-to-earnings ratio of 13.68 and a beta of 1.53. Canadian Natural Resources has a one year low of $52.66 and a one year high of $76.21. The company’s 50-day moving average is $66.72 and its two-hundred day moving average is $65.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.96.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The company had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $6.73 billion. On average, analysts forecast that Canadian Natural Resources will post 5.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.774 per share. The ex-dividend date is Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. This represents a $3.10 annualized dividend and a yield of 4.07%. Canadian Natural Resources’s dividend payout ratio (DPR) is 53.25%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $94.00.

Institutional Investors Weigh In On Canadian Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNQ. Money Concepts Capital Corp bought a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Central Bank & Trust Co. purchased a new stake in Canadian Natural Resources in the fourth quarter worth $26,000. GAMMA Investing LLC purchased a new stake in shares of Canadian Natural Resources in the fourth quarter worth $27,000. Captrust Financial Advisors lifted its holdings in Canadian Natural Resources by 57.6% in the second quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 217 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Canadian Natural Resources in the fourth quarter worth about $35,000. 74.03% of the stock is currently owned by institutional investors.

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).