Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by SYSTM Wealth Solutions LLC

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

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Plancorp LLC raised its position in Canadian Natural Resources by 100.0% in the second quarter. Plancorp LLC now owns 7,330 shares of the oil and gas producer’s stock valued at $261,000 after purchasing an additional 3,665 shares during the period. Old West Investment Management LLC boosted its position in shares of Canadian Natural Resources by 116.3% during the 2nd quarter. Old West Investment Management LLC now owns 204,746 shares of the oil and gas producer’s stock worth $7,289,000 after purchasing an additional 110,096 shares during the period. Renaissance Technologies LLC increased its holdings in Canadian Natural Resources by 16.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,437,796 shares of the oil and gas producer’s stock valued at $51,186,000 after purchasing an additional 203,096 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Canadian Natural Resources by 98.8% in the second quarter. Mesirow Financial Investment Management Inc. now owns 5,754 shares of the oil and gas producer’s stock valued at $205,000 after purchasing an additional 2,859 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Canadian Natural Resources by 102.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,103,443 shares of the oil and gas producer’s stock worth $252,883,000 after buying an additional 3,595,631 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

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

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

Canadian Natural Resources Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CNQ shares. Wolfe Research assumed coverage on Canadian Natural Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Finally, Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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).