Canadian Natural Rsrcs (CNQ.TO) Buy, Sell or…

Canadian Natural Rsrcs (CNQ.TO)

70.08

-1.62 (2.26%)

as of Sep 16, 2026, 8:00:00 pm Market Open.

1408 watching

COMMENT

Energy stocks? Right now stick to the large, liquid energy stocks. There is growing concern of counter-party credit exposure within the mid-stream and pipeline space. He recommends ENB-T and TRP-T for pipelines and SU-T and CNQ-T for producers, if you want to own any energy stocks. SU-T yield is 7.2%, while CNQ-T is 8.4%. CNQ-T is probably still showing positive cash flow, even at these oil price levels. You may still lose money, but it will be much less than a smaller player.

COMMENT

Valuation is getting more expensive, payout ratio is going higher, balance sheet is getting worse. Only buy if you think oil is going higher, and then you'll be fine.

COMMENT

Suncor is a good buy, but so is CNQ, he thinks. Both have yields of 5.6% today.

PAST TOP PICK

(A Top Pick Feb 27/19, Down 7%) A week and a half ago this was up in value. He thinks the sell off will be short lived. This is still a Top Pick for him.

HOLD

Suncor will be a survivor of this energy down turn, but only wants to own one oil sands producer. He prefers CNQ. Suncor has benefited from their refinery assets, but that value uplift is pretty much played out.

TOP PICK

Any time the share price drops to the low $30s this is a good buy. He expects it to rebound back above the mid-$40s when oil prices recover. Their capex has peaked and now they can reap the benefits in higher cash flows. When capital returns to Canada, this will be one of the first ones to attract new investor interest. Yield 4.47% (Analysts’ price target is $47.00)

BUY ON WEAKNESS

It's a good hold for the longterm. It could be a good time to start looking into this. He would watch it closely. He thinks there will be production moving back to NA due to the coronavirus. He's looking for an entry point.

BUY

A run from Dec did very well and then abruptly turned back down. Maybe we get a rebound with the price of oil being higher. There is the 4% yield. It has recovered and his upside target of $45 remains. If oil does really well he would expect $63.

TOP PICK

It has a big bottom at $30 over recent years, and we're seeing a longer-term uptrend. We're seeing weakness and it's now re-testing support. There'll be an accumulation phase before it pushes higher. He just bought this. It's one of the best oil stocks. (Analysts’ price target is $47.11)

DON'T BUY

He is really light in the oil space. CNQ is a great company, but the problem is money is not flowing into resources. There is a large gap in the pricing of Canadian oil relative to the US and the world. He is not adding anything at this time.

COMMENT

CNQ-T vs. SU-T. He thinks we are at the point where we have peak demand for carbon-based energy. By 2025 every car manufacturer will at least have a hybrid. There will always be at last a little demand for carbon-based energy. Right now we are generating more energy from solar than from coal, so we are moving in the right direction. He is indifferent to the two stocks.

BUY

Oil. They will raise their dividend this year and go up by double digits. He is positioned for this stock to do better in 2020. (Analysts’ price target is $45.00)

BUY

SU vs. CNQ He owns CNQ; with CU, they are the two best-run Canadian oil companies. They've maintained decent share prices as its peers got washed out. SU has benefitted from the diversity of their refining assets when the WTI price differential widened CNQ is a cash-flow machine, decreasing debt and costs. You can own SU or CNQ, not both. CNQ is in a better position of returning shareholder dollars through share buybacks and/or raising the dividend. Caveat: if oil prices rise in 2020, these two giants won't benefit as much as its smaller peers (e.g. WCP) which have fallen further.

HOLD

He has always thought this one of the companies where you would hide as companies that would hold up in a downturn. They have done much better than mid-tiers. You can preserve money but not make much. It is a testament to the management of the company. It is best of breed.

COMMENT

In cyclical stocks, the commodity is so important. Saudi Aramco came out with its IPO this week in Riyad, not London or NYSE. In recent OPEC meetings they agreed to cut back output 500,000 more barrels per day. With current oil price tightening CNQ should be OK. Core holding for him.

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Canadian Natural Rsrcs (CNQ.TO)