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.

1412 watching

DON'T BUY

Oil strategic reserve is almost filled and once you get into the seasonal low of the 2nd quarter, feels that oil wil more likely settle back into the $40 range. Likes the company. Has some good growth profiles. The biggest risk is the Horizon project. Will be a major capital expenditure if they go ahead with it. Would take some money off the table if he owned.

BUY

Not enough refining facilities. Large oil sands exposure. Doing well. Will be volatile.

TOP PICK

(A Top Pick Dec 31/04. Up 34%.) Likes the energy space.

BUY

Positive on the price of energy, including oil, gas, uranium, etc. The demand is not going away and there are supply constraints. Very important to have exposure to this sector.

BUY ON WEAKNESS

Has had a really strong run which doesn't look like it's going to stop. Buy on any pull-back. One of the best managed companies. Good intermediate term term too. Have massive resources off Trinidad that they're just bringing on stream.

WAIT

One of Canada's finest companies. Exceptional management. Just announced their sanction of their Oil Sands project, Horizon. Likes Oil Sand and will be looking for an opportunity to buy during any weakness in energy prices.

BUY ON WEAKNESS

Likes it, but wouldn't be a buyer at this price. The Horizon Tar Sands project is worth about $15 a share so the price could go to $80.

PAST TOP PICK

(A Top Pick Nov 24/04. Up 28%.) Still likes, but with their investment in Horizon Oil Sands, it might be a little choppy going. May be a good time to take some profit.

WAIT

Had a good run recently on the news that they are going to go ahead with Horizon and they have the capital to do it. Likes the story and should be a core holding in the large caps. Wouldn't chase it at this price, but on any correction in energy would pick some up.

TOP PICK

The cheapest of all the major Canadian producers. It should sell at 5 X cash flow. Once the Horizon project is up and running, this could be close to 500,000 barrels a day.

BUY

Stock responded very well to the news that they were going to proceed with the heritage project. Technically, the stock is very strong. Seasonality period for energy is from the end of January to the end of May. This particular case started early and will probably end early, i.e. a technical SELL signal will probably come before the end of May.

BUY

Trading around 14.2 X cash flow which is very compelling. Has some heavy oil, so you have to watch the light/heavy spread. Has the prospect of a significant heavy oil project in the oil sands. Also has natural gas.

PAST TOP PICK

(A Top Pick Dec 1/04. Up 17%.) Far more to go. The upside potential is more than 100% from here.

TOP PICK

Over the last 15 years has been a top decile performer, i.e. always in the top 10% of its peer group with respect to operating costs, growth, finding development costs. A very well run company. One of the cheapest ones out there trading at a multiple of about 4 X cash flow. Their oil sands project with Horizon isn't factored into the stock.

DON'T BUY

A great, well managed company. A lot of heavy oil exposure. Spreads on light/heavy oil widened dramatically at the end of '04. Impressed with their operations longer term, but prefers Encana at this time.

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Canadian Natural Rsrcs (CNQ.TO)