TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

62.85
-2.08 (3.20%)
as of Aug 5, 2026, 8:00:01 pm Market Open.
1402 watching
0
Investor Insights
star iconAug 5, 2026, 12:00 am

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

Canadian Natural Resources (CNQ) is regarded as one of the best-managed companies in the Canadian energy sector, known for its disciplined management, diverse asset base, and consistent returns to shareholders through dividends and buybacks. Many analysts highlight its strong cash flow generation capability, allowing it to be profitable even when oil prices dip to as low as $40-$50 per barrel. While the overall sentiment about the long-term price of oil remains bearish, with predictions suggesting lower prices in the coming years, experts agree that CNQ's operational efficiencies and low-cost production give it a competitive edge. Despite short-term price volatility linked to fluctuating oil prices, the consensus is that CNQ remains a solid investment for long-term holders, albeit with caution regarding entry points. The stock is well-positioned to weather market cycles, but timing purchases based on oil price movements is recommended.

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Consensus
Hold
valuation icon
Valuation
Fair Value
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Similar
Suncor,SU
WAIT
Usually does well from Feb into May. This year it didn’t. We are seeing a pickup because of a second seasonal trend. If oil bounces up then you will see CNQ rally up to about $33. Technicals on Crude look favorable. Buy date for second season is the end of this month. He usually waits 4 weeks after the season starts to make sure it will go up and then buys.
WATCH
Looks like a lot of stocks that have been in a downtrend are trying to find a bit of a base. He would like to see a definite breakout from the base before they got too excited about any stock.
WATCH
Sold this a few months ago. This is a long-term entry point but they are half gas, problems in the oil sands and then Horizon production problems. This is the first time he has not owned it. Sees risk of prices coming down with EU worries. Now it is starting to look interesting again. He wants to wait for EU to settle down, say mid-Aug and he will probably buy it back.
BUY
Thinks the stock went down because of their difficulties at Horizon as well as the pressures because of oil prices. Likes it at this price. Has a target price of $50. Will be throwing off an awful lot of cash flow and they'll do one of 3 things. 1) Pay down debt, 2) increase the dividend or 3) make some acquisitions or perhaps a balance among all those 3.
COMMENT
He is optimistic on the Nat Gas outlook. Can’t understand why WTI oil is so high. The market is now paying more attention to what is happening on the demand side.
BUY
Probably one of the preeminent Cdn oil/gas companies over the last several years until early 2011 when they had a fire in one of their operations. Also had some production problems earlier this year. Also plagued by lower natural gas prices. Extremely well managed. Great entry point.
DON'T BUY
Model price of $40. It broke a EBV line (see his blog). $23 looks like it is in the cards.
BUY
Probably one of the best companies in Canadian history. Very deep team. They are able to asset allocate between gas, liquids rich gas, oil sands, etc. Oilsands production generically seems to need $80 so really the key is differential. Good price.
BUY
(Market Call Minute.) Suffering from the differential problem and general bearishness about oil. Have some problems with their Horizon upgrader. Very well run company and you can buy it down here with a view to owning it for 2 years and you'll be very happy.
BUY
(Market Call Minute) Likes production profile and exposure to oil sands.
BUY
Over the long-term, oil prices are not going to get any cheaper. With this in mind, you want to own an oil sands company because of the long duration profile of their assets.
BUY
Cenovus (CVE-T) Suncor (SU-T) or CNQ (CNQ-T)? At this point this is the one she would buy.
COMMENT
Got their Horizons project built somewhere near on time and close to budget. This is probably the best in terms of quality of its range of assets and management yet it continues to reflect much more of what the oil price is. If oil goes higher, this stock will go higher.
BUY
This is a high-quality company. Pretty balanced portfolio but right now they are focusing most of their capital on their light oil and heavy oil to a lesser extent. They do have some upgrading capacity, which is very valuable. 1.5% dividend.
DON'T BUY
This and SU present the same dilemma to investors. They appear cheap and have fallen 25-40% and it is the same company as it was then, but he doesn’t know where crude oil is going. Europe and Asia’s demand are unknown as demands may decrease. Projects may not get built now.
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