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TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

68.48
-0.45 (0.65%)
as of Oct 6, 2026, 8:00:00 pm Market Open.
1407 watching
0
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.
BUY
Cdn Nat Resources (CNQ-T) or Trans Canada (TRP-T)? Likes and owns both companies. Risk profiles are quite different. This one is oil/gas producer and their upside producing more commodity.
BUY ON WEAKNESS
Buy on pullbacks. Lots of geopolitical things. If they die down we could see a set back on oils and it would be a good opportunity to get in.
BUY
Canadian Natural Resources (CNQ-T) or Suncor (SU-T)? He is traditionally underweight large index names. His sweet spot is intermediates and small-caps. However this one would be the exception.
BUY
Fabulous entry point. Had some issues again with Horizon oil sands production but these things happen. Have many, many years of reserves in the ground and they will grow. Low valuation to cash flow.
STRONG BUY
Likes this stock a lot and has been buying. Very attractive right now. Cheap. Some of the operational issues with Horizon upgrader are behind it.
HOLD
He would rather own the ones with a higher yield but he wouldn't sell this one if you own. Has a target of $48.
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