TSE:CNQ

Canadian Natural Rsrcs (CNQ.TO)

63.76
-2.46 (3.71%)
as of Jun 5, 2026, 8:00:00 pm Market Open.
1398 watching
0
Investor Insights
star iconJun 5, 2026, 12:00 am

This summary was created by AI, based on 93 opinions in the last 12 months.

Canadian Natural Resources (CNQ) presents a mixed outlook among experts, with many praising its robust management and long-life assets. The company benefits from its low breakeven point and solid free cash flow generation. However, concerns about the price of oil and geopolitical influences weigh on sentiment, leading to recommendations to consider trimming positions after a notable run-up. While analysts highlight the strong dividend record and favorable fundamentals, there is caution as the energy sector faces pressures from potential oversupply and regulatory challenges. Overall, CNQ is viewed as a solid long-term hold with strong recovery potential in favorable market conditions.

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Consensus
Hold
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Valuation
Fair Value
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Similar
SU
BUY
Roughly 15%/20% higher in a year. The Horizons oil sands project has taken a long time, but that production is finally coming on stream. The recognition when it comes on and the bump in cash flow, this will do very well.
HOLD
Natural gas is selling at the highest price it has for quite some time. Looks like it wants to go higher. Probably has lots of room to go on the upside.
WEAK BUY
A good long term hold, there may be better ones in the group. You’ll get the right kind of exposure with this.
BUY
Believe in the gas market, the place to be.
BUY
Stock market is pricing oil companies as if oil is $60. So they are all cheap. This one is both gas and oil. Gas has finally recovered in the last few months.
TOP PICK
Likes the Horizon project that is coming on in the latter half of this year. A little more expensive and delayed from what the expectations where but that's not unusual for Fort McMurray. Cash flow will be significant at well over 100,000 barrels a day. 45% natural gas. Good management. (Would treat the Top Picks as a Watch rather than a Buy.)
BUY
(Market Call Minute.) Oil/natural gas exposure in North America.
BUY
70% of its production comes from the province of Alberta so it doesn't have a lot of diversity and is subject to the royalty rates. That has affected gas very negatively. However, it has some visibility with the Horizon oil sands project, which looks like it is finally going to come.
BUY
Over the next several years, it will produce over $27 billion in cash, which will allow them to pay off most of their debt.
PAST TOP PICK
(A Top Pick Apr 5/07. Up 5%.) Their horizon play is undervalued. Taking out the horizon, they trade at 4.5X cash flow compared to their peers of 6.5. Still a Buy.
BUY
Oil/gas companies have taken quite a haircut because of Alberta's royalty regime. She thinks there will be a softening on this. Has a big capital expenditure program ahead of it. Some cost concerns. Very well managed. If you have no oil/gas this would be one to own.
HOLD
Oil stocks have been consolidating for about 18 months. Prices have remained pretty high and the companies have been making a lot of money. There is volatility in this sector, but energy looks more attractive than many others. There is significant support between $63 and $65 but if it fell below $63, he would Sell. Use a stop/loss.
TOP PICK
A Top Pick about a year ago and is up 30%. Still thinks it has legs. Developing the Horizon oil sands project, which is expected to come on in the 3rd quarter and should generate a lot of cash flow. About 45% natural gas so will get a kick from any increase in gas prices. Great management.
DON'T BUY
Would probably be his top pick in the senior Canadian oil picture. Estimates are for $80-$83 oil in 08 and 09. On this basis, you could see a pullback on stocks such as this, particularly as they have flat production and flat cash flow in 08 over 07. $60-$65 would be his Buy target.
PAST TOP PICK
(A Top Pick Feb 7/07. Up 21%.) Recently sold his holdings at a higher amount. Would go back in at around $60.
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