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

In January, Canadian Natural Resources Limited (NYSE:CNQ) experienced a significant reduction in short interest. By January 31st, the short interest stood at 9,500,000 shares, which is a 30.2% drop from the January 15th total of 13,610,000 shares. With an average trading volume of 5,060,000 shares, this translates to a short-interest ratio of 1.9 days. Currently, about 0.5% of the company's shares are sold short.

Hedge Funds Weigh In On Canadian Natural Resources

Several institutional investors and hedge funds have adjusted their positions in CNQ recently. Northern Trust Corp raised its holdings by 21.8% in the last quarter, now owning 3,074,921 shares valued at $94,923,000 after purchasing an additional 551,109 shares. Similarly, The Manufacturers Life Insurance Company increased its stake by 5.1%, acquiring an extra 1,442,000 shares during the same period, bringing its total to 29,910,127 shares worth $924,675,000. Virtus ETF Advisers LLC also increased its ownership by 13.4%, now holding 5,295 shares valued at $163,000 after buying 626 more shares. Syon Capital LLC raised its stake by 7.4%, owning 30,172 shares worth $931,000 after adding 2,088 shares. Additionally, T. Rowe Price Investment Management Inc. boosted its position by 7.3%, now holding 34,052,775 shares valued at $1,051,210,000 after acquiring 2,312,437 more shares. Hedge funds and institutional investors currently own 74.03% of the company's stock.

Wall Street Analyst Weigh In

In a recent report, Tudor Pickering downgraded the shares of Canadian Natural Resources from a "strong-buy" to a "hold" rating. According to MarketBeat.com, there is a consensus rating of "Hold" among five analysts for the stock.

Canadian Natural Resources Stock Down 1.0 %

On Friday, shares of CNQ declined by $0.31 to $30.10, with a trading volume of 3,389,614 shares against an average of 6,052,059. 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 stock’s 50-day moving average stands at $31.08, while the 200-day moving average is $33.38. The company is valued at $63.30 billion, with a PE ratio of 11.69 and a beta of 1.45. Over the past year, CNQ has reached a low of $28.65 and a high of $41.29.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is involved in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids. The company offers a variety of products, including light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

Canadian, Resources, Short