Canadian Natural Rsrcs (CNQ.TO) Buy, Sell or…

Canadian Natural Rsrcs (CNQ.TO)

78.42

+1.37 (1.78%)

as of Oct 30, 2026, 8:00:00 pm Market Closed.

1410 watching

DON'T BUY

He is Short this stock. Not a comment on the quality of the business but just the wrong place to be right now. Has relatively high fixed costs and there is weakness in oil prices.

BUY

This, ETF for an oilsands play or a US oil or forget about oil altogether? This one is a very good way to play the oil patch. Chart seems to indicate we are at the bottom at around $30. Her favourite company in oilsands would be Suncor (SU-T), which is cheaper. (See Top Picks.)

COMMENT

Great company but gas and oil prices have dropped, which is the difficulty. Fabulous company with great reserves, which are growing. Solid management. This is one you want when the market turns.

WAIT

It’s a supply/demand issue and technicals are supporting it. In terms of the high cost companies like tar sands, those stocks could be vulnerable. This one is very vulnerable to weak oil prices. He looks at book value ($21.26) He would hold off being a buyer. Wait for November with Tax Loss pressure. Be a Buyer for the long term.

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.

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Canadian Natural Rsrcs (CNQ.TO)