TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

56.02
-0.17 (0.30%)
as of Jun 26, 2026, 8:00:00 pm Market Open.
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Investor Insights
star iconJun 26, 2026, 12:00 am

This summary was created by AI, based on 94 opinions in the last 12 months.

Canadian Natural Resources Limited (CNQ-T) is viewed positively by experts for its strong management, solid balance sheet, and ability to generate cash flow even at low oil prices. Many analysts praise CNQ's long-term operational efficiency, citing a robust dividend history and the promise of sustained cash returns to shareholders through dividends and buybacks. While some experts caution about the impact of fluctuating oil prices on the stock's performance, many believe it remains a core holding in energy portfolios due to its low-cost production and diversified asset base. The consensus suggests that while the oil market faces challenges, CNQ is well-positioned to weather these conditions and benefit from any eventual recovery in oil prices.

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Consensus
Buy
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Valuation
Fair Value
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SU
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.
BUY
Seems part of their plant seems to blow up from time to time and problems moving oil to where it is needed. Believes Keystone will get built as well as a pipeline going west. The problems that have held back the stock are a complex process but he feels the earnings are going to be solid with today’s oil prices. A great time to enter.
COMMENT
Hope on this one is that reliability and operability will get better on Horizon. He trades this fairly actively. Very oil weighted and has great free cash flow generation. Pretty good hedge on differentials as well.
DON'T BUY
Has always had a premium valuation. Problems at Horizon, which should be starting up again soon. It still looks a little expensive to him. There are other things he would prefer in the oil patch.
BUY
(Market Call Minute) One of the cheapest energy stocks in Canada
BUY
Started buying a long time ago. Sold and bought in again. Hey are doing all the right things and building up production in the oil sands area. Great Nat Gas exposure for when Nat Gas turns. Synthetic crude and heavy oil they are working with. Couple of cash cows, North sea and off shore West Africa. If oil prices hold and Nat Gas comes back you will have a company that is throwing off immense amounts of free cash flow during the next 5-10 years and what will they do with it. Could be $75 to $100 then.
DON'T BUY
Down 7% year to date. Oil has gone up. Horizon had another mishap and is scaled back production for a while. They will have to show a quarter or two before they regain part of the multiple.
BUY
Lightened when they had Horizon problems. It Is a great long term asset and it is an oil levered name. Assets are extremely undervalued. Has no problem adding to it here.
TOP PICK
SU is up, CNQ is down. It makes no sense. They are going to have record production this year. Record cash flows with oil above $95. Should continue to grow production for the rest of the decade. They have to get the dividend up a little bit more, though.
DON'T BUY
The problem is that they had a couple of hiccups with the plant. It happens, but it has happened twice in a short period of time. A credibility loss with management. Still a great company otherwise.
PAST TOP PICK
(A Top Pick April 6/11. Down 20.2%.) Had a fire last year which knocked them out of production for longer than expected. Also had a fire in Horizon this year. Still the best managed oil company in Canada.
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