TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

64.93
-1.85 (2.77%)
as of Aug 4, 2026, 8:00:00 pm Market Open.
1402 watching
0
Investor Insights
star iconAug 4, 2026, 12:00 am

This summary was created by AI, based on 97 opinions in the last 12 months.

Canadian Natural Resources Limited (CNQ) has received mixed reviews from various experts. Many praise its strong management, stable cash flow, and consistent dividend growth, highlighting it as a reliable long-term investment in the energy sector. However, there are concerns regarding the cyclical nature of oil prices, with several analysts expressing caution about the long-term outlook for crude oil and suggesting potential headwinds from increased EV adoption and regulatory challenges. While short-term volatility is acknowledged, many experts believe CNQ's financial strength and diverse asset base position it well for the future. Overall, it is frequently noted as a solid choice for those looking to invest in the Canadian energy market, with a notable emphasis on the importance of oil price stability for CNQ's performance.

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Consensus
Hold
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Valuation
Fair Value
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Similar
Suncor,SU
BUY
It ranks quite well in his dividend model (top 15) but earnings estimates have been shaved in the last 90 days, yet free cash flow has grown. He is quite positive and this one should be able to participate on the commodity upside.
PAST TOP PICK
(A Top Pick Sep 26/18, Down 13%) You would have thought this stock would have been up given results so you are getting it on sale. See his Top Picks
TOP PICK

He prefers it over SU-T. They have all kinds of free cash flow. They increased the dividend almost 50% in the last three years. They bought all kinds of assets over the last few years at fire sale prices. If you own one Energy stock, this is the one. (Analysts’ price target is $45.32)

BUY ON WEAKNESS
It is always a buy close to book value. In the low $30s it makes sense. They are buying back their stock aggressively. This will be an astute investment if we get back to $70-$100 oil. The stock has upside. They are generating a lot of free cash flow.
BUY
Pays nearly a 4% dividend. CNQ is one of the best-run oil companies, but he doesn't own oil.
TOP PICK
If oil prices live in this range and the differentials get fixed overtime, this company generates so much cash flow it holds no debt in 4 years time very conservatively, he thinks. Yield 4.45% (Analysts’ price target is $45.32)
COMMENT
Doesn't own any energy right now, but if she had to pick one, this is a good choice. Diversified, strong balance sheet, and has been increasing dividend all along. Dividend is safe. A good long-term, conservative play. Yield is over 4%.
PAST TOP PICK
(A Top Pick Aug 22/18, Down 27%) Even the heavy weights have reflected the environment they are in. It is still solidly producing positive cash flow.
TOP PICK
Canada's biggest oil producer. A contrarian pick given the brutal oil climate now. Pays 4.86% yield. It's trading at a discounted valuation now; the gap between the valuation and the oil in the ground is historically wide (too wide). Good growth. (Analysts’ price target is $45.66)
DON'T BUY
Very well-run, but he doesn't buy large-caps. Whenever CNQ says they have a lot of free cash flow, they buy a company. Instead, they need to aggressively buyback shares and raise their dividend.
TOP PICK
A contrarian pick. CNQ is Canada's biggest oil and natural gas producer. They have audited, proven reserve life of 27.7 years (current production rates until the lands are depleted to hydro-carbons). And yet, this trades at 10.2x earnings, which means the market ascribes zero value to the last 17 years of oil. This yields 4.7% which has grown 24% in the last 5 years. (Analysts’ price target is $46.17)
COMMENT

CNQ vs SU? He thinks oil prices will be flat for the next period. There continues to be a flood of oil out the US and there is growth globally as well. In Canada, we are anti-trade outside of Canada. CNQ-T has been the best managed company in the space since 1990. SU-T is also a safe pick as well. Not a real reason to own them as he is not bullish on oil. (Analysts’ price target is $46.33)

HOLD

He likes both SU-T and CNQ-T and has made it a Top Pick in the past. Both these stocks continue to be good to hold. SU-T will continue to be a core holding for him as he likes both their upstream and downstream assets.

HOLD
One of the most widely held stocks in the energy space. Well managed and great assets. They have purchased many distressed assets at good value. It may not have the torque to the upside like others, but a solid core holding.
DON'T BUY

or Suncor Neither. CNQ is a great company and doing good things on the ESG front and advocating for the oil industry. This and Suncor are the two biggest oil names in Canada. CNQ keeps promising free cash flow, but keeps deferring that flow. He'd rather buy Cenovus which is poised to receive large-cap investment inflows.

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