Canadian Natural Rsrcs (CNQ.TO)

Buy if you're bullish on natural gas.

Not a lot of downside in oil, but not a lot of upside over next 6 months either. This name has done well relative to what oil has done, and so he struggles to see short-term upside. Later next year might be a different story. Produces nat gas, and also extremely well run. Very widely held, so trades at fairly full multiple of 8x cashflow using $60 oil.

Good idea. Profitable down to, he believes, WTI below $50, and that's great. He doesn't have a great view of oil price (but doesn't think it will go below $50). Probably your best big oil play in Canada. Very good natural gas play. Great operations. Not cheap compared to peers, but a fair price. Nice 5% dividend.

An impressive return when oil prices are down. One you can own forever. If it goes under $45, she's buying more.

Since April pullback seeing an uptrend, which has been slow but she sees continuing. Focusing on low-cost production and operational efficiency. Strong balance sheet. Its scale and integration lets it weather the market cycles better than any peers. 

Volatility from commodity price always a risk, but financial strength and cost discipline make it worthy of being a core holding among your energy stocks. Value 9/10, fundamentals are 8/10. Yield is over 5%, and management has history of increasing dividend.

He agrees with RBC. If you're trying to buy a name like this based on an oil price forecast, forget it. Its business is attractive, regardless of the current price of oil. 

Still made $$ even when WTI oil was below $39. Great capital discipline. Meaningful acquisitions. Plan to pay down debt well communicated. As long as the oil price is constructive in a long-term sense, this name is a very-well positioned, low-cost, reasonable-growth entity that generates a lot of cash. Growing dividend.

One of the best Canadian oil companies. The stock has been sideways recently, because it's a tough oil market, so relatively it's done well. CNQ buys back shares, raises the dividend and reduces debt, doing all the right things. CNQ will benefit from higher oil prices. Better to own this than a smaller oil company.

Looks just fine technically. All its moving averages have gone higher, taking out the 3 most recent highs. IMO, SU, and CVE are also behaving well. Nothing wrong with a 4% yield that will grow probably 20+% a year over the next 5 years. Darn attractive, great inflation hedge.

Historically in a commodity bull market, gold moves first, metals move second, and energy moves third. Take a look at the XEG, which has just broken out of a big range.

About a month ago, he doubled down on his position. Superbly managed, great company. If you want to be in oil, this is one of the places to be.

The chart this year shows consistently higher lows to return to $45 and broken past this--an ascending triangle, which is bullish. The chart looks really good. First resistance is $48-50, then $52-53.

Tremendous respect for the company and management. Fairly valued right now. Barring some geopolitical event, such as Ukraine striking actual production facility in Russia, he's challenged to see oil spiking over the short term. 

Trades at 8.4x cashflow, 7.5% forward FCF yield, yield of 5%. Everyone's been hiding out here, but eventually people want to go down-cap when oil starts to recover.

No energy names in his portfolio, he's very neutral on the space. Price has been sideways for some time, with 200-day MA trending a bit lower -- not great technical signs. Doesn't expect great capital appreciation in next 12-18 months. Nice dividend of ~5%, doesn't feel it's at risk.

Take a look at CVE.

Right now, nat gas looks a bit better. In a downtrend since 2024, but has taken out the last low and the last peak. Breaking through a bit of old resistance -- good sign. Doesn't look too bad in the near term, but not an exciting area to be in right now.

Taking a look at the 5-year chart, looks like most of the producers -- little breakout, then broke down, finding support at the old breakout point, and now trying to bounce off that. A really good company, so could bounce back to old highs. Gives it 5-6/10.

The oil price is down and likely won't go anywhere. Canada needs to get its oil out of the country; let's see if Carney does it. CNQ is the top western Canada company. It still makes money at current oil prices.

Energy prices are frustratingly being reflected in CNQ's stubbornly low price. Important to remember that CNQ is a low-cost producer, well managed, consolidating in the Basin, and doesn't have debt. So they can pay capital back to shareholders. Large and healthy dividend.