Fri Sep 20 14:07:55 UTC 2024: ## SYSTM Wealth Solutions Cuts Canadian Natural Resources Holdings, Other Investors Adjust Positions

**Calgary, Canada – September 20, 2024** – SYSTM Wealth Solutions LLC significantly reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ, TSE:CNQ) during the second quarter, according to the company’s recent SEC filing. The firm sold 12,837 shares, resulting in a 77.9% decrease and leaving them with just 3,634 shares worth $129,000.

However, SYSTM’s move contrasts with other institutional investors and hedge funds who have increased their positions in the oil and gas producer. Plancorp LLC doubled its holdings, Old West Investment Management LLC boosted its stake by over 116%, and Renaissance Technologies LLC added a significant 16.4% to its portfolio. Dimensional Fund Advisors LP made the largest adjustment, increasing its holdings by over 102% to own 7,103,443 shares.

Overall, institutional ownership of CNQ stands at 74.03%.

Canadian Natural Resources opened at $33.78 on Friday, with a market capitalization of $71.87 billion. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88, and a quick ratio of 0.59.

CNQ recently announced a quarterly dividend of $0.384, representing a $1.54 annualized dividend and a 4.55% yield. The dividend will be paid on October 4th to stockholders of record on September 13th.

Analysts from various firms have issued mixed recommendations on CNQ. Wolfe Research initiated coverage with a “peer perform” rating, while StockNews.com downgraded the stock from “buy” to “hold.” Scotiabank and Raymond James also issued “sector perform” and “hold” ratings, respectively.

The consensus rating for CNQ is currently “Hold” with an average target price of $49.50, according to MarketBeat.com.

**Canadian Natural Resources Limited** is a major player in the oil and gas industry, involved in the exploration, development, production, marketing, and sale of crude oil, natural gas, and NGLs. They operate across Canada and offer a variety of oil products, including light and heavy crude, bitumen, and synthetic crude oil.

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