Canadian Natural Rsrcs (CNQ.TO)

Master-class operation. Disciplined management -- acquisitions are only made when make economic sense for the long haul. Concentrated in oil sands. Massive nat gas reserves. Well positioned if Canada continues to walk the talk about international markets.

The right one to have, but realize that O&G is highly cyclical. We're probably at peak uncertainty. Use the opportunity to find areas that have been beaten up, or perhaps some international exposure. See his Top Picks.

Profitable down to low $50's WTI. Great story. Decades of inventory. Good balance sheet. 7% shareholder returns. Nothing not to like.

Energy's benefited from the "everything else" trade. Also a pop from possible conflict with Iran. Thinks oil price will be challenged going ahead. Owns and loves this name, but wouldn't add.

It's jumped from $40 to $52 quickly. The best-run company in the world and one of the best oil ones. However, valuations leapt while the yield dropped from 5.5% to 4.3% quickly. Catch this under $50. All Canadian energy is up because of the rising oil price which is not sustainable.

Top-tier company. Dividend increases every year since it started paying one over 20 years ago. Stable income stream. Low-cost producer, profitable at $40 oil. Not overly bullish on long-term oil prices, so this is a good play against that backdrop.

Again, we're in phase 2 of the market cycle. The 5-year chart shows the stock's corrective phase, and now it's starting to turn back up. At the end of this year or early next, companies will be moving their product around and they'll need fuel, which will fuel :) the demand for energy.

Likes it fundamentally, his analyst rates it "Outperform". Technically, set up to move higher. Yield is 4.77%.

Without question, extremely well run. But valuation's very full, so he doesn't see meaningful upside from here. Yield is 4.8% (which is "fine").

He'd recommend FRU or WCP.

In his firm's income fund, and he owns some in his RRSP. A great, sleep-at-night company. No concerns over the long term. In a tougher market, it can make accretive acquisitions. 

Venezuelan news is a short-term negative. Seeing incremental oil flow into the US Gulf. Even though down 5-10% not rushing to scoop up shares, because they foresee weaker oil prices. Below $40 is where they'd dip their toes in again, but no quarrel with buying today for the long term.

Energy isn't strong now. He is underweight. But there's nothing wrong with CNQ, is one of the better energy stocks. Is not excited about energy. He sees improving return in invested capital with CNQ, and the valuation is reasonable. 

Attractive opportunity today. Great management team, good asset footprint, and enough takeaway capacity now. 

We're moving to a post-oil society -- good for the world, but not so good for Canada with its Albertan dinosaur juice that's the key to a lot of our prosperity. We should ramp that up while there's still time to benefit. OPEC is over-producing, but there's still a war in Ukraine, a Venezuelan oil embargo, and curtailment of oil from Iran. Yet oil is still just $60 a barrel.

So ask yourself if CNQ's returns are going to be sustainable in the current oil paradigm? He thinks yes. But he's not overly bullish on oil.

Likes the sector, but doesn't own this name. He's looking either for deeper value or more participation in the upside. On the value side, likes CVE and TOU. On the growth/momentum side, likes ATH, SDE, EFX, and TVE.

Up 7%, with a dividend of ~5%, so it's giving you 12% a year. Wouldn't be surprised if you got this next year as well. Disciplined about buying back stock, steadily increases dividend. Long-life assets. "Widows and orphans" stock. Hold for consistent growth, not too much excitement.

He holds natural gas, not oil, stocks. CNQ is the big player in Canadian oil, though the stock hasn't done much this year. Canadian oil is seeing a renaissance. Pays a nice 5% dividend yield. CNQ is a nice, integrated, go-to oil name.

Doesn't own any Western Canadian oil-focused producers. Likes the story for nat gas better than the one for oil. Oil has a lot of geopolitical influence; for example, don't know how the Venezuelan situation will resolve. OPEC is erratic and unpredictable. What would a Russia-Ukraine truce do to oil?

Good company, much better than it used to be. Balance sheet cleaned up. Great assets with long reserve life of heavy oil and oil sands. Pretty good nat gas portfolio and some international assets. Will produce cashflow, pay dividends, and buy back shares for a long time. 

Look for a better entry point, when macro picture is more constructive for oil.

Likes it so much, and would buy today. Anywhere below $44-45 is an attractive entry point. Need to separate your thinking between CNQ and oil. Actually to your benefit if oil does worse, as CNQ is so financially strong and operates so counter-cyclically. The lower oil goes, the more it consolidates and will come out a winner. 

Cashflow yield between 8-9.5%, very attractive valuation. Highest insider ownership of all the large-cap oil companies.