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) is widely regarded as one of the best-managed companies in the Canadian oil and gas sector, characterized by its stability and strong management practices. While experts acknowledge the cyclical nature of the oil and gas industry, many emphasize CNQ's robust cash flow generation and strategic focus on debt reduction and share buybacks, which bolster shareholder returns. The company's diversification into natural gas production adds to its appeal, as well as its consistent history of increasing dividends for over 25 years. Despite some experts expressing caution about short-term oil price fluctuations and macroeconomic conditions, the overall sentiment reflects confidence in CNQ’s long-term potential for growth and returns, framing it as a solid investment for both income-oriented and long-term investors.

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Consensus
Buy
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Valuation
Fair Value
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Similar
Suncor,SU
HOLD
Energy is tricky with a four year bear market. However, valuations are starting to get cheap enough. He does not own this. One of the largest producers. He just sees better opportunities in the space. (Analysts’ price target is $47.55)
HOLD
A super-high quality company. They are bidding on the Jackfish assets and maybe the market is afraid they will over pay. Along with Suncor, the only assets in the space that are held by institutional investors. He thinks they will not benefit from a new flush of cash by investors, as they may sell this conservative holding in favour of stocks with more torque. (Analysts’ price target is $47.00)
BUY
All the stocks have moved, but still negative sentiment around Canadian energy. It's bumped up against $48-49 a number of times, so a strong chance it will get to high 40s or higher. Nice dividend yield, good job de-levering the balance sheet. Core position for him. For energy exposure in a high-quality name, CNQ is at the top of the list.
DON'T BUY
$42.55 is his target price. This is trading at the top of his value zone. He sees better value in Suncor. Current earnings don't justify the stock price.
COMMENT
CNQ vs. SU Suncor has higher dividend. Both big in oil sands. Both generate free cash flow. Suncor's said it will raise dividend and buy back stock. CNQ is also buying back. Suncor performance is much better. Until we get through October federally, and egress gets resolved, foreigners will stay away from Canada.
HOLD
There were some short term indicators for selling that came on, so he is looking for a pause here. There is no resistance until $44.
WEAK BUY
CNQ vs. Suncor Owns and prefers Suncor because of its downstream integration. CNQ though looks interesting now as it flirts with its 200-day moving average. Valuation is low at P/B and pays a 3.9% yield, which is high in this sector. The stock is discounted for CNQ. The major risk is that it's a pure play on WCS. Otherwise, a great company.
BUY
The best Canadian oil company and they have integrated purchases well. He's long owned this. The problem is that Canadian oil stocks have lagged the oil price, but CNQ will still benefit from this rising price.
BUY
This and Suncor are his top picks in this space. They have upstream, midstream and downstream to create revenue, which distinguishes them from a lot of oil producers. CNQ pays a bit of a dividend and is well-capitalized. Well-run
PAST TOP PICK
(A Top Pick May 18/18, Down 21%) There are concerns about restriction in western Canada about how much you can ship. There is seasonality to Nat Gas stocks and so there should be a pick-up in CNQ-T because of that. He sold last October.
COMMENT
They just raised their dividend by 12%. They beat cash flow per share and production. They are buying back shares agressively. Pays a safe dividend at 69% payout. He sees 2% production growth. Okay balance sheet. The only thing to not like is oil itself. Not enough railroads in Canada. Norway has announced it is selling its oil stocks (many no Canadian stocks are on their list). So, how big a position do you want in oil? Do you want to own oil forever anymore?
WEAK BUY
Owned it for a long time until he exited oil two years ago. This is a bet on the oil complex working, which he expects to eventually in 2020. It's a high-quality company with a safe dividend.
PAST TOP PICK
(A Top Pick Mar 12/18, Up 1%) They have great free cash flow and it remains a Top Pick for him.
TOP PICK
Their capex spending is largely behind them now and they should become a cash flow producing machine. Analysts are saying the decline rates in new US Permian production exceed 30% per annum, making CNQ long life reserves (of 50 years) more valuable. He expects another dividend increase next week. He hopes they don't step out to buy the Devon Jackfish assets. Yield 3.54% (Analysts’ price target is $45.03)
DON'T BUY
It is the best of the Canadian oil stocks in terms of safety and size. They have got into upgrading and refining of oil in the last few years. This is a great way to play energy but he is not enamored with the industry right now. (Analysts’ price target is $45.00)
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