TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

63.76
-2.46 (3.71%)
as of Jun 5, 2026, 8:00:00 pm Market Open.
1398 watching
0
Investor Insights
star iconJun 5, 2026, 12:00 am

This summary was created by AI, based on 93 opinions in the last 12 months.

Canadian Natural Resources (CNQ) presents a mixed outlook among experts, with many praising its robust management and long-life assets. The company benefits from its low breakeven point and solid free cash flow generation. However, concerns about the price of oil and geopolitical influences weigh on sentiment, leading to recommendations to consider trimming positions after a notable run-up. While analysts highlight the strong dividend record and favorable fundamentals, there is caution as the energy sector faces pressures from potential oversupply and regulatory challenges. Overall, CNQ is viewed as a solid long-term hold with strong recovery potential in favorable market conditions.

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Consensus
Hold
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Valuation
Fair Value
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Similar
SU
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.
WAIT
Senior one that he sold in the last month. Has really liked it and owned for a decade. Will probably go back to it. Half oil/half gas. Well managed. Wait until Greece is settled.
HOLD
This is his favourite in the energy space. Largest Canadian producer in terms of daily production. 33% exposure to the oilsands. This and Suncor (SU-T) are the 2 cheapest of the 4.3 price to cash flow ratio. As this company becomes a producer of net free cash flow, you'll see either share buybacks, acquisitions and probably dividend increases.
SHORT
He is still Short this stock and he thinks it is going down to lower levels. The oil sands folks are having a hard time getting the right price for their oil with the bottlenecks in the system. 30% of their revenues are coming from conventional gas assets.
BUY
This is a company that thinks very differently. Over the oil cycle it is very consistent, kept costs down and is well-managed. They consistently think about return on invested capital when they make decisions on their businesses.
BUY
In the penalty box right now because of some of the problems it has had in its start-up of Horizon. Great company. Has loads and loads of production growth ahead of it. Very reasonable valuation.
TOP PICK
At the lower end of its valuation of 4.5X next year's cash flow. Has a bit of refining and conventional. Really good at allocating capital. Great growth story and a low-cost producer.
COMMENT
This has not been one of his favourites over the years because they have had problems with their oil sands project. The numbers coming out of that sector have improved dramatically recently. Right now he is in a “wait and see” position.
BUY ON WEAKNESS
He is not a big fan of oil at this time. He would look to get in at $28-$29.
WATCH
Broken trend line in early 2011 and this was followed by sell off. Started another up trend but we are now into another trend line down. The chart indicates that it is developing a W formation, one of the hottest formations there is. If the stock can hold current levels at around $30, there is a good chance it will reverse again.
TOP PICK
Likes it being 65% N.A. crude and for their involvement in the oil sands. Crude prices should stay in the $90-$100 range. They are bear on natural gas but decided to focus more on crude but are ready to ramp up Nat Gas. Thinks they will increase dividends as they raise production. There was an outage at Horizon but they restarted it back in March. You have to focus on what they have done long term.
BUY ON WEAKNESS
One of his favourite names. Fundamentals for oil look the best of any commodity. You can wait on this one and buy a little bit later. If you want to put money to work, he would be inclined to put it into Cenovus (CVE-T) or Suncor (SU-T) because they have the integrated side, which will be reported because of the defensive nature.
BUY
5 to 10 years from now this will be a much bigger company and the stock price will be significantly higher. Trading at 4.5X cash flow. Great growth prospects. You want to buy this when the world is negative.
SHORT
He is short this one and expects it to fall further. They have good assets and are a good company. But they have to sell oil at a low price. Strong production but a difficulty in marketing at the right price. A number of refineries down currently. A number of these oil companies are higher cost enterprises so discounted oil prices are bad for them.
BUY
Long-term buy. Again had some problems with Horizon, which gives it a cheap entry point. Should go at least to the high $30’s.
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