
TSE:CNQ
(A Top Pick Dec 10/18, Up 4%) His second-biggest energy holding after SU-T. Superb managers with great cost control. It's done well in a tough environment, beating the energy group which is down 10% in this period.
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)
He owns this as well as SU-T. His model price is a 2.5% upside at $38.37 for CNQ-T. The fundamentals and price action are really squeezing it here. $31.50 would make him a buyer. Otherwise it has to show him by breaking through at $38.40.