TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

56.19
+0.13 (0.23%)
as of Jun 25, 2026, 8:00:00 pm Market Open.
1393 watching
0
Investor Insights
star iconJun 25, 2026, 12:00 am

This summary was created by AI, based on 93 opinions in the last 12 months.

Canadian Natural Resources (CNQ) has garnered mixed sentiments among analysts, with many highlighting its status as one of the best-managed companies in the energy sector. It is recognized for its strong cash flow generation capabilities and disciplined management approach, particularly in share buybacks and dividend increases, making it a staple among long-term investors. However, concerns about oil price fluctuations and their impact on growth and valuations have led to cautious observations about current entry points for new investors. While some experts see CNQ as a solid long-term hold with potential upside, others suggest caution due to recent price rises and the cyclical nature of the oil and gas market. Overall, the company benefits from its diverse asset base and low production costs, providing a buffer against volatility in energy markets.

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Consensus
Hold
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Valuation
Fair Value
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Similar
SU
BUY ON WEAKNESS
CVE-T vs. CNQ-T. CNQ-T has not outperformed over ten years but he would be weighted more towards it for the short term at this point, buying on weakness. The dividend return is important to a lot of investors.
HOLD
These days, you want to own the larger cap players. They all plan to cut back spending, reduce debt, increase dividend, buy back shares. Won't be massive increases in exploration and production. Oil is not going away.
BUY
Likes CNQ a bit better than SU. But both will throw off a nice bit of cash, for a nice rising dividend which will be valuable if we're in an environment where rates slowly go higher.
BUY
Trading below peers at 4.4x. Balance sheet has turned around remarkably. Has some production growth, and good cashflow per share growth. Good dividend that pays while you wait. Magic here is oil prices. If oil prices are benign, investors will get more comfortable with the name.
BUY
CNQ vs. Suncor The energy sector looks good. Today's news says that we could see oil prices topping $100 in 2022, but he thinks $80 is a more realistic target. Growing demand for oil should continue into 2022. CNQ could crack the summer's resistance level. Stick with the large-cap oil names. CNQ vs. Suncor? Own both. Anything could happen to smaller-cap names in the face of a fourth wave of Covid. Long-term, though, oil names will be less and less attractive.
HOLD
Balance sheet in good shape. Oil at these levels means incredible levels of free cashflow. Trading at historically low multiples. Economy is slowing, so he reduced his position in the summer to about 2%. He tries to ignore OPEC news, but would be fine with the name for the next few months.
TOP PICK
It has been the most successful large oil company in his career. It has developed a diverse asset base. It has managed the down-turns of the industry extremely well emerging stronger every cycle. Demand for oil will recover with airline travel. (Analysts’ price target is $55.36)
TOP PICK
One of Canada's leading senior oil produces with low-long assets. Free cash flow growth will rise sharply in coming years. Expect more dividends or share buybacks. They're more flexible than peers. (Analysts’ price target is $54.41)
PARTIAL BUY
If you believe in the oil story, it could be a good play. Oil will remain elevated in the recovery story. Fundamentals are favourable. If you own it, you are not at risk of seeing a significant pullback.
HOLD

Management always good at executing. Balance sheet allows them to make favourable acquisitions. He owns this instead of SU, because you only need to own one of the big oil companies in Canada.

TOP PICK
They have massive free cash flow. They have a long history of dividend increases. It is still cheap relative to where commodity prices could go. You want to average into it. (Analysts’ price target is $47.63)
BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Looks fine. Compared to peers in the sector, it has not cut its dividends in downturn. Raised dividends in March. It is good for sector exposure and is looking very cheap at 10x earnings. Unlock Premium - Try 5i Free

PAST TOP PICK
(A Top Pick Mar 04/20, Up 21%) He'll own this for a long time and will still buy it in the low-30s. They increased their dividend last year and for the last 30 years or so. Super management enduring in a tough environment. Managers focus on free cash flow.
DON'T BUY

He prefers Suncor, rumoured to be held back by massive selling by the Saudis. He expects SU to outperform CNQ. CNQ outperformed last year. Its valuation is better than SU, but he expects SU to outperform.

BUY

The whole reflation trade is a trade. Oil stocks have been beaten down for a while. For a trade, the energy price pop is good. However, as a long term trend, they are not investable since there is a move away from traditional energy. He has no preference between CNQ or SU. He is overweight energy right now.

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