Canadian Natural Rsrcs (CNQ.TO)

Steadily climbing to first resistance around the key level of $45, which is a "reversal of polarity" (support becomes resistance, resistance becomes support). Good news is that it's broken out of downtrend. Much stronger technically. Watch: does it break out above $45? If yes, starts to look really good.

Highest beta to oil price, as it's the least vertically integrated of the seniors. Top-notch management. Very strong FCF. Solid balance sheet. Great yield. Chart's flat over last year, much due to lack of differentiating catalysts (unlike SU or CVE). Low oil price has impacted ability to hit internal debt targets or increase share buybacks.

One of the best-managed Canadian companies that exist. Attractive today, mainly because we don't need a huge breakout in oil prices to deliver a decent return. WTI is sitting ~$61-62. Best consolidator in the basin. Core part of your energy allocation, though not quite a screaming buy today.

It's quite possible they will buy smaller Canadian companies. One of his primary energy stocks. Is very bullish oil and gas, driven by the US market.

This has been sideways for years. CNQ is not a growth company. The sector itself is sideways. Buy low and sell high in this space--you can apply this to any mature E&P energy company.

It has light and heavy oil as well as natural gas and LNG so it can switch around to what's going well and follow the increase in price of the particular commodity. It is the most diversified in Canada so is the one to buy. One of the cheaper at 12X earnings. It is a solid long term performer and has raised its dividend each year for 25 years. On oil in general OPEC has been putting more barrels on the market.

Bit of a downtrend for past year or so. 200-day MA has been falling, with stock price consistently below that. Not meeting some of his technical factors. Dividend remains steady, may increase depending on how oil prices go. Oil down and oversupplied. Yield is 5.4%.

Definitely don't sell. If you have extra funds, buy more. Happy to buy around low $40s. Premium assets, lower decline rate. Nice mix of oil and gas. Premium management team, one of the best in the world. FCF returned to shareholders via buybacks, consistent dividend increases. Another one to own forever. Has never cut the dividend, now 5.5%.

In a flat or questionable oil price environment, this former darling is being sold as a relative trade. Take advantage of that. Best operator in the business. Just inked first natural gas contract off an LNG project in the US. Own it long term and do well. Yield is 5.7%.

He thinks crude oil will come back up. CNQ has an excellent management team and a diversity of production assets along with a huge portfolio of assets. Production is good and Capex is under control. It is at a compelling valuation and has the lowest cost and longest reserve of similar companies in Canada. It offers great downside protection. It can sustain its dividend and last year returned $7.1 billion to investors which should be repeated this year. It also got rid of $2 billion in debt.       Buy 16  Hold 6  Sell 0

In Q2-2025, the company generated an adjusted EPS of $0.71, compared to last year’s $0.88; the decline was largely due to weak commodity prices. However, CNQ managed to beat expectations of around $0.63. CNQ also returned around $1.6B to shareholders during the quarter ($1.2B in dividends and $0.4B in share repurchase). CNQ's business continues to remain robust and sustainable, and management believes the company can achieve breakeven in the low to mid-US$40 per barrel range, at which level CNQ could generate enough funds to cover maintenance capex and dividends. CNQ’s management is committed to continuing with its shareholder-friendly policy while maintaining a healthy balance sheet. Though there is some volatility in financial results due to the fluctuation of commodity prices, but we think CNQ continues to be a high-quality cash cow with attractive dividend growth prospects over time.
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A core Canadian energy name, along with SU. Still, energy space has been very tough. Prices have been low, OPEC producing more than expected. Regulatory environment in Canada is challenged, as is the macro global economy. Great yield of 5.66% and should remain steady. Technicals don't look great. 200-day MA falling, and price is below.

Best-run company in Calgary since about 1990. Slow and steady wins the race, they don't make mistakes. The name to own when energy does well. Right now the energy market's tough, but will get better slowly over time. Nice dividend, which increases every year. You could start accumulating. Solid play.