SYSTM Wealth Solutions LLC Reduces Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

SYSTM Wealth Solutions LLC reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 77.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,634 shares of the oil and gas producer’s stock after selling 12,837 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Canadian Natural Resources were worth $129,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CNQ. Capital Wealth Planning LLC increased its holdings in shares of Canadian Natural Resources by 228.5% in the second quarter. Capital Wealth Planning LLC now owns 91,652 shares of the oil and gas producer’s stock valued at $3,263,000 after purchasing an additional 63,756 shares during the period. JBF Capital Inc. increased its holdings in Canadian Natural Resources by 101.1% in the 2nd quarter. JBF Capital Inc. now owns 512,198 shares of the oil and gas producer’s stock worth $18,234,000 after buying an additional 257,549 shares during the period. Choreo LLC purchased a new position in Canadian Natural Resources during the 2nd quarter worth approximately $746,000. Pacific Heights Asset Management LLC lifted its stake in Canadian Natural Resources by 100.0% during the 2nd quarter. Pacific Heights Asset Management LLC now owns 320,000 shares of the oil and gas producer’s stock valued at $11,392,000 after acquiring an additional 160,000 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Canadian Natural Resources by 105.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,575,770 shares of the oil and gas producer’s stock valued at $56,097,000 after acquiring an additional 810,200 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Up 2.8 %

CNQ stock opened at $33.78 on Friday. Canadian Natural Resources Limited has a 12-month low of $29.45 and a 12-month high of $41.29. The business’s 50-day moving average is $34.83 and its 200 day moving average is $36.42. The company has a current ratio of 0.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.24. The stock has a market cap of $71.87 billion, a price-to-earnings ratio of 13.46 and a beta of 1.51.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The firm had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the business earned $0.43 earnings per share. On average, sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.49 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.384 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.54 annualized dividend and a yield of 4.55%. Canadian Natural Resources’s dividend payout ratio is presently 61.75%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CNQ shares. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Raymond James upgraded Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research started coverage on Canadian Natural Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $49.50.

About Canadian Natural Resources

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).