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
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Valuation
Fair Value
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TOP PICK
(A Top Pick Oct 21/08 Up 31.2%.) Horizon, their oil sands project, is still ramping up. Didn't meet expectations in Q3 but this is one you have to keep with a long-term horizon. Estimating they will generate $3 billion in free cash flow in 2010 with oil at $80 US. One of the best growth stories out there for a senior producer.
PAST TOP PICK
(A Top Pick June 30/09. Up 17.3%.) This one should be a core holding in any portfolio. Exceedingly well run. Oil weighted and visible production growth from their Horizon oil Sands and Primrose thermal projects. Buy on weakness.
PAST TOP PICK
(Top Pick Nov 24/08, up 58%) Still likes it. Great company.
TOP PICK
One of the few that can increase oil production by about 10% in 2010 and 12%-13% in 2011 while US comparables are struggling to get 3%-4%. $6.9 billion cash flow, mainly because of Horizon.
BUY
A bit of correction but it has still not come back to the 200-day moving average. On a long-term basis, this is an exciting stock. Had a big base in the Dec-March period, which can support higher targets. Hold long as it is above its 200-day moving average. Seems to be in a trading range and the bottom is near $66.
PAST TOP PICK
(Top Pick Dec 24/08, Up 89%) Buy CNQ-T, Sell CNQ Aug. Calls, Sell CNQ Aug. Puts.
BUY
This is a company they quite like. Disciplined management. Volumes over the next quarter probably grow 25%. Negative is that they are in gas.
PAST TOP PICK
(Past Top Pick Oct 16/08. Up 46%.) Sold his holdings and put it into Crescent Point (CPG-T). The run is probably not over but cash flow estimates are coming down. Used to be $21-$22 but are now down around $12. Would buy at $65. (See Top Picks.)
PAST TOP PICK
(A Top Pick June 30/09. Up 18.3%.) Have executed very well on their Horizon play with more than 100,000 barrels a day. Starting to be re-rated as an oil sands stock. In the short term, it is close to reaching its top. High beta at 1.4.
TOP PICK
(A Top Pick Sept 22/08. Down 13%.) Likes its torque to the Horizon oil sands project. Has completed phase 1 and has done really well. Coming in on time, on budget and with production upside. Will have a lot of growth.
BUY ON WEAKNESS
For a company of its size, it is fairly unique in that it has very visible production growth of probably 180,000 barrels going forward. Besides being the largest oil producer they are the second largest producer of natural gas. Would buy below $70.
WAIT
Just went up 26%. They can decide to stop drilling for Gas and start drilling for oil. Buy 20% of what you want and wait 6 weeks on the rest. It will come off 10% in a month.
BUY
Has heavy oil production with its Horizon project. Had good results over the 2nd quarter. They watch their costs very closely, which is very important. About 1/3 production is natural gas and they will be among the low-cost producers.
PAST TOP PICK
(A Top Pick Sept 4/08. Down 15%.) This would now be his 3rd pick after Encana (ECA-T) and Crescent Point (CPG-T). (See Top Picks.)
BUY
Has everything from oil sands to Canadian Western conventional to N. Sea to offshore West Africa. Great production and cash flow growth. Cheap.
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