Canadian Natural Rsrcs (CNQ.TO)

Very strong management. Long-life assets are hard to replace. Companies that are able to manage debt and shareholder returns are being rewarded. Once debt reaches a certain level in 2024, 100% of cashflow goes to shareholders.

It's no hitting the top of its range this year, hitting resistance, but if you buy now you could be rewarded in a year. Energy is interesting now. The risk/reward is pretty good. But he prefers other energy names. Take a third of a position. He'd feel better if this broke above the mid-$80s.

Is currently trading at its $80 ceiling. If it breaks $80 it will be great news. Buy on that breakout, but not now.

A core holding. They've never cut the dividend and have grown it for many years. One of the best management teams anywhere in the world; are great counter-cyclical buyers. He's very bullish natural gas, which is another tailwind for CNQ. Their Oil Sands are best in class and will continue to produce steady cash flow.

Believes large companies will conserve capital & return it to shareholders rather than M&A activity.
New mentality that shareholders need to be re-paid.
Long term CNQ is a great hold.

It is moving sideways same as most of the oil stocks. The floor is probably in the $70 range. Eventually it should go up.

He doesn't know where oil prices are going to go, but he's confident that oil demand will be pretty strong over the next 5-10 years. Extremely well run. Fantastic fundamentals. Big oil sands capex spend is done, just free cashflow now. Own this instead of utilities, pipelines, or banks. Raised dividend for 20+ years, more to come.

Top tier performer.
Excellent management team led by Murray Edwards.
Strong dividend yield.
Record profits even with lower prices.
Demand for energy not going anywhere.

One of the best oil companies in Canada. Focused on shareholder returns, reducing capex. Debt levels will go down. Oil is not going away. Gives them credit for taking steps on climate change. Yield is 4.9%.

Very well run. Also look at SU. These 2 names are his favourites. Look to add on a bigger correction.

Very strong large cap energy name.
Concerns of recession overblown - not too worried.
Tightening oil market will raise oil prices in the long term.
Good time to buy with current share price.
15% free cash flow yield.
~4.8% dividend yield.

It is in a basing pattern. It is one of the highest quality companies in the energy field. You could buy now if you have a long term view since there should be value on the fundamentals side. There is not a lot of energy production coming on board.

Bullish on oil. Management owns a lot of stock. Disciplined capital approach. Less of a drill-at-all-costs mentality and more money being returned to shareholders. Well managed, great long-life assets. Oil and nat gas might be under pressure now, but prices will go up as the transition to renewables takes its time. Strong cashflow. Yield is 4.93%.

Never bet against this management. Massive inventory depth, exposure to Canadian heavy oil, longer-term natural gas optionality. Should hit final debt target at end of this year, and announced shareholders will then get 100% of free cashflow. Super solid. Incredibly strong balance sheet. Yield is 5%.