Canadian Natural Resources Limited (NYSE:CNQ – Get Rating) (TSE:CNQ) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 67,280,000 shares, a growth of 23.3% from the August 31st total of 54,580,000 shares. Based on an average daily volume of 2,990,000 shares, the short-interest ratio is currently 22.5 days. Currently, 6.0% of the shares of the stock are short sold.
Canadian Natural Resources Trading Up 5.3 %
Shares of CNQ opened at $49.06 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average is $53.28 and its two-hundred day moving average is $57.59. Canadian Natural Resources has a twelve month low of $37.25 and a twelve month high of $70.60. The firm has a market capitalization of $54.67 billion, a P/E ratio of 6.11, a PEG ratio of 0.58 and a beta of 1.51.
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Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) last issued its earnings results on Thursday, August 4th. The oil and gas producer reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.47. Canadian Natural Resources had a net margin of 25.39% and a return on equity of 31.63%. The company had revenue of $8.99 billion for the quarter, compared to analyst estimates of $7.84 billion. On average, research analysts predict that Canadian Natural Resources will post 8.92 earnings per share for the current fiscal year.
Canadian Natural Resources Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Friday, September 16th will be given a $0.5822 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.33 annualized dividend and a dividend yield of 4.75%. Canadian Natural Resources's dividend payout ratio is presently 30.05%.
Hedge Funds Weigh In On Canadian Natural Resources
Several institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors lifted its stake in shares of Canadian Natural Resources by 25.4% during the first quarter. Capital World Investors now owns 124,407,484 shares of the oil and gas producer's stock valued at $7,703,436,000 after buying an additional 25,232,354 shares during the period. Capital Research Global Investors raised its stake in Canadian Natural Resources by 4.1% during the fourth quarter. Capital Research Global Investors now owns 121,275,042 shares of the oil and gas producer's stock worth $5,124,376,000 after purchasing an additional 4,822,542 shares during the period. Vanguard Group Inc. raised its stake in Canadian Natural Resources by 6.2% during the first quarter. Vanguard Group Inc. now owns 40,235,475 shares of the oil and gas producer's stock worth $2,493,796,000 after purchasing an additional 2,332,528 shares during the period. Canada Pension Plan Investment Board raised its stake in Canadian Natural Resources by 3.9% during the first quarter. Canada Pension Plan Investment Board now owns 24,179,559 shares of the oil and gas producer's stock worth $1,498,531,000 after purchasing an additional 900,000 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in Canadian Natural Resources by 1.1% during the fourth quarter. 1832 Asset Management L.P. now owns 16,841,334 shares of the oil and gas producer's stock worth $711,111,000 after purchasing an additional 188,814 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on CNQ. TD Securities raised shares of Canadian Natural Resources to a "buy" rating in a research note on Thursday. Credit Suisse Group reaffirmed a "neutral" rating on shares of Canadian Natural Resources in a research report on Thursday, August 11th. Scotiabank cut shares of Canadian Natural Resources from a "sector outperform" rating to a "sector perform" rating in a research report on Wednesday, June 8th. National Bank Financial decreased their target price on shares of Canadian Natural Resources from C$100.00 to C$88.00 in a research report on Friday. Finally, StockNews.com cut shares of Canadian Natural Resources from a "buy" rating to a "hold" rating in a research report on Tuesday, September 13th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $85.93.
Canadian Natural Resources Company Profile
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Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.
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