Chris BlumasCanadian Natural RsrcsCNQ.TOWAITJun 18, 2026

A lot of oil companies have fallen since the highs of March/April. He added just this morning -- chart's attractive, price bouncing off 200-day MA. 

Likes it at almost every investment cycle. (She'd choose it as a Top Pick at every Market Call appearance if they let her ;)  Premium assets, premium management, low decline rate. Consistent cashflow.

Makes $$ when oil is $50. Higher oil price means that it can pay down debt faster and buy back more shares. A stock to own for the next 50 years. Yield is 4.27%, and dividend is growing. 

Oil prices are everywhere, and you have to be comfortable with that. Probably not a bad idea to buy when oil is ~$70 and everyone thinks the worst has passed. Trades in line with peers. Balance sheet in very good shape. 25% FCF from 2025-2027, on 3% production growth. Nice dividend. Even if oil goes down, it's profitable down to WTI at $50. 

If you think oil's going down, you don't want to buy this stock. It's a coin toss right now with oil at $70. There are easier risk/reward places than oil stocks right now.

One of the best-managed companies in the world. Their oil business is stable, but their gas side is overlooked. They are a top-3 gas producer in Canada. Good cash flow will continue and allow them to buyback stock and shrink their debt. 

He won't bet on commodities on bad news. They grow production every year and watch costs. They have giant reserves. Long term, a headwind will be growing demand for EVs, as in China. Oil will eventually revert to $50-60 and this stock will correct a bit. CNQ can grow production 3-5% a year and its dividend 5-10%. He will own this long term. Is doing all the right things.

He's trimmed a bit. If oil comes back, it will retrace quite heavily. 

Owns in the income growth fund. It is very well run and has a huge reserve base in Alberta. Long term it is fine for lower and higher oil prices.

Short term, what happens to the oil price and in the Middle East is going to kick these stocks around. Likes its low breakeven point. 

Still doing all the right things. Benefiting from the unanticipated increase in price of oil. Still not that expensive at 12-13x PE, with 8% FCF yield.

She will own this for the next 30 years. Very bullish. She likes CNQ at $60 oil, so $100 oil today is a bonus. Management is discipline, their Oil Sands are long-life with low decline, and have a strong dividend records. They make money even at low $50 oil. She added more shares recently.

Not fond of today. Underperformed. Trades at a premium to SU. Has a fair amount of nat gas as well, and he's not as positive on that.

See his Top Picks.

She trimmed on the big runup. Still one of the top O&G producers in Canada. Essential backbone of Canadian energy. Stands out on capital return. Raised dividend again. Compounded annual growth of 20%. Ranks 9/10 on value.

Energy will still be one of the top performers for 2026. If oil pulls back, this name will see some volatility -- great time to take a look at it.

If you already have oils in your portfolio, don't buy now. If you share his thesis that the Strait will be challenged with only some traffic going through, then we're probably looking at $80-90 oil. Canadian oil companies are at a massive advantage because we're really trying to expand our markets.

For a 5-year horizon, CNQ looks really good. On the nat gas side, he likes TOU and PEY.