STOCKCHASE

Because of what they are doing at Horizon they are throwing off huge amounts of cash and will pay down debt or acquire other companies. He may double his holdings.

2012-01-25

DON'T BUY

37.850

Barry Schwartz

Suncor (SU-T) would be a better buy right now based on valuation. It is also a more liquid stock with more training in the US. Likes this company and the space it is in. Trading at 6X cash flow. Doesn't feel there is much more upside.

2012-01-16

BUY

37.910

Gavin Graham

Very well run and a quality stock. Has moved from being gas oriented to a good, well diversified exploration/production story. Good for a long-term hold.

2012-01-13

DON'T BUY

39.850

Michael Decter

Probably had a pretty good move and would go elsewhere to look for elsewhere such as Crescent point, husky or Suncor.

2012-01-04

WAIT

38.150

Don Vialoux

Within the next month (Jan 23 until June 15) it will have seasonal strength. This sector significantly under performed the market in 2011 so will outperform the market in 2012.

2011-12-30

TOP PICK

37.770

Been in the penalty box for a little while. Had a few problems last year with the upgrader fire, but if you believe in the oil story, it only gets better from here. Has at least 20%-25% upside over the next year and is relatively stable.

2011-12-23

TOP PICK

36.100

Largest Canadian oil/gas producer with production in excess of 600,000 daily. Have diversification through their offshore holdings in West Africa and in the North Sea. This is a cash cow. Making great money from oil sands, North Sea and eventually from West Africa. Have loads of cash to buy back stock, pay down debt or make other acquisitions. Cheap at 4.2 price to cash flow.

2011-12-16

Comment

38.250

Stocks are not keeping up with the oil prices and that is due to skittishness as investors are not sure $100 oil is not going to stay. All the senior oils are great long term value. Stocks should rally somewhat.

2011-12-07

BUY

37.840

Hap (Robert) Sneddon FCSI

Likes their mix of the land inventories and what they produce. Focusing on oil right now because they're negative on natural gas for the next few years. Very good guardians of capital. Will be spending $7 million next year on their Horizons project in the oil sands. Well-managed.

2011-12-01

Comment

36.170

Bill Harris, CFA

Keystone pipeline from the oil sands is a big issue. We were essentially at 1.2 million barrels a day going to the US and this was going to add another 800,000 barrels in 2 years. Extremely important that these transportation projects go ahead. This is his favourite.

2011-11-22

DON'T BUY

34.050

Lorne Steinberg

With sluggish growth outlook in economy and Libya shipping oil in next 6 months, so thinks CNQs cash flow will suffer. Prefers Royal Dutch Shell. Oil prices in a sluggish economy don’t have to fall off much to have a negative impact.

2011-11-01

Comment

31.730

Mason Granger

One of the premier large cap stocks in Canada. With Horizon starting up again, they are back to full cash generation mode. Have a fairly large bond that comes due in 2012 making the market a little skittish.

2011-10-13

Comment

31.730

Eric Nuttall

Conventional heavy oil and oil sands out of Horizon. Higher sensitivity than others to the price of oil. Well run. Have more land than any other company in Canada. Should do very well over time.

2011-10-13

BUY

31.520

Gavin Graham

Excellent company. Gassy so can be vulnerable to the oversupply of North American gas. One of the major exploration and production companies.

2011-09-29

BUY

31.970

A little bit of support right where it is now. This is probably a pretty good risk/reward. If it breaks down then get out and wait for $27.

2011-09-21

TOP PICK

33.480

Bill Harris, CFA

A great Canadian company. Low cost producer. Have assets including shale gas, oil sands and gas so they can toggle between the businesses or even sit on their hands if they choose to. Attractive valuation at 5X cash flow.

2011-09-19

BUY

33.530

Robert Lauzon

One of the market movers because of its size. Hit hard over the last 3-4 months. It trades like an oil stock. Downside is $30. One of the biggest natural gas portfolios in Canada but they aren’t drilling it. IF he picked one major to buy on this pull back it would be this one. Has cash flow and free option for natural gas.

2011-09-12

Comment

34.150

Gavin Graham

One of the larger and better managed of the exploration/production companies. Has a little yield. Good holding.

2011-09-09

BUY

35.660

John O'Connell, CFA

He likes this one a lot. Expects you could see it in the $40-$50 price range. Very well run. Tremendous assets. Strong management.

2011-09-07

HOLD

37.000

Ross Healy

Gave quite a good sell signal quite close to the top but now it has met its down side target. You could let some go if you are up a lot. Nothing wrong with it. Well run company.

2011-08-31

BUY

34.880

If longer term, it could take longer term to play out.

2011-08-23

BUY

33.910

One of his favourite oil exploration/production companies. Great oil sands exposure. Attractive price.

2011-08-18

HOLD

36.000

Eric Nuttall

Super high quality name. Down 18% this year. Will be ramping up production. Phenomenally well run company. Extremely cheap. NAV of $57. He'll be buying on weakness.

2011-08-16

BUY

35.350

Mason Granger

One of the premier oil weighted companies in Canada. Has been adding at these prices. Looking for the restart of the Horizons project.

2011-08-10

BUY

37.110

Have a very good inventory of resource plays. Nice mix of oil, oil sands, natural gas and thermal oil. They have decided to focus more on crude. Has a proven record of increasing resources and increasing cash flow per share. Also have the flexibility to add more dollars to natural gas if needed. Good entry point.

2011-08-02

TOP PICK

40.620

Steve Carlin

He is using $100 oil prices for this year and 2012. Had a fire at the Horizons project earlier this year but will be coming on stream in August. This will result in about 110 thousand barrels a day in production. That will drive cash flows for the end of this year and into 2012. Expects 15% volume growth between 2011 and 2012. $55 target.

2011-07-26

BUY on WEAKNESS

39.490

A terrific name. He would be a buyer on dips. A core holding for him. Great potential. Horizon. Number 2 in Gas so if it starts to increase this one will benefit. Oil will slowly march higher over time. Solid growth over time.

2011-07-18

STRONG BUY

41.670

Good opportunity to get into one of the highest qualities, if not the highest quality oil/gas companies. Really suffered during the 2nd quarter and has lagged the market and the oil/gas index for most of the year beginning with a fire in Horizon in February. Will be up to full production at the end of this quarter. Trades at about 4.5-5 times cash flow.

2011-07-07

Comment

39.150

Stan Wong

As a short-term speculator, would you be a Buyer or Seller of this one tomorrow morning? Looking at charts, this has fallen below the 50 day moving average and the 50 day has just crossed the 200 day. Actually you would have been better buying it at the $38 level a few days ago.

2011-06-22

BUY

38.920

John O'Connell, CFA

Stock price came back nicely after the Horizon upgrader problem. Good management. Tremendous resources. Good growth profile. He will probably Buy as we come through this current correction.

2011-06-15

BUY

40.250

Eric Nuttall

People are concerned oil won’t hold $100 because of demand destruction in the US, which he doesn't agree with. CNQ is discounting $80. Buy at $40 for a conservative investor.

2011-06-08

PAST TOP PICK

39.690

(Top Pick May 28/10, Up 9.94%) some fires in the upgrader and wild fires in Alberta. But a very well managed company, lots of production. If you believe oil is here to stay, you have to hold this one. Good place to buy more.

2011-06-06

BUY on WEAKNESS

40.460

Will be a buyer if the price goes below $40. 2 things hit this one. Oil sands was a dirty word and they had 20%-23% exposure. Also had a major blow up at Horizon.

2011-06-02

BUY

41.560

David Cockfield

People are waiting for the price of oil to pull back, which is affecting all of the oil stocks. Thinks it will do quite, so not a bad time to buy.

2011-05-27

BUY

40.740

Outlook for next 6 months is better than the last 6 months. Fire in Horizon has been a drag. This is a very well managed company. Pelican facility near slave lake is shut down because of forest fires. Is over sold right now. Production is going to ramp up.

2011-05-18

BUY

40.000

Laura Wallace

Canadian Natural Resources (CNQ-T) or Suncor (SU-T)? Likes both of them. Suncor's Petrocan acquisition is now starting to pay off so as not as pure a resource play as CNQ. CNQ has had some fire problems with their Horizon project but seem to be well positioned. If she could only own one, it would be Suncor.

2011-05-12

DON'T BUY

40.000

Stan Wong

Stock is down quite a bit like most energy stocks. There could eventually be a bounce. Missed their earnings in the last quarter so he would favour others such as some of the drillers.

2011-05-12

STRONG BUY

40.240

Steve Carlin

Premier oil company in Canada. Fire at their oil sands project has knocked out a good portion of their oil production this year. There will be an incremental increase in the 3rd quarter and another leg up in the back half of the year. Great stock, especially at this level.

2011-05-11

BUY on WEAKNESS

41.350

Joseph Schachter

One of his favourites in large caps. Have done a great job until their problems with Horizon and getting that on stream is going to take a bit of time. There are 2 parts to the premium. 1) Middle east because of supply coming off and 2) weaker US$ issue. Weaker oil would bring the stock down so if you see it in the Mid $30's range would be a fabulous buy.

2011-05-10

STRONG BUY

42.300

Brian Acker, CA

Big fire in January caused a loss of 100,000 barrels of oil a day in production. Also, they are being hit by higher taxes of the UK. (Callers comments) Brian’s model price is $55.88, a 35% positive differential. An excellent buying opportunity.

2011-05-06

TOP PICK

41.240

Well off its peak because their results were impacted by the big breakdown in their oil upgrader. If they are in full production next year, can see them trading at about 4.5 -5 times cash flow. Also, you are getting 40-50 years of oil reserves.

2011-05-05

BUY

44.510

Jaime Carrasco

Some of the oil stocks seem to be lagging the price of oil. Why? Thinks institutional investors think that these things are in a bubble and don’t believe they are going to be as profitable and commodities won’t continue moving up. He disagrees. It’s all about the US$ (which is the currency we trade globally) and its depreciation. This one is a very good buy because oil prices continue to go up.

2011-04-29

Comment

43.210

This is one of the bellwether stocks in the sector. Have always tended to surprise people in a positive way. Last quarter was in line but they did improve probable reserves by about 9%. If you are a long term holder, you will make money. Always sold at a significant premium to its peers. Would be compelling at $40.

2011-04-19

Comment

42.550

Joseph Schachter

Had a few problems with the Horizon’s upgrader and environmental issues. Likes the story. If he is right and there is a cool off on the price of oil, there will probably be some weakness from here. If you are buying wait to see if it goes into the mid-$30’s. If you own, Hold.

2011-04-14

BUY

44.340

Derek Webb, CFA

We are in a bull market for oil - period. We are just starting a new cycle. There is no reason to think it will not go to or even through its old high. As long as we have easy money. Global politics could just make it get there faster. He doesn’t have a favourite oil company.

2011-04-12

TOP PICK

47.250

(A Top Pick April 14/10. Up 22.06%.) 2/3 oil and 1/3 natural gas. Wants to be in position in case something goes wrong in the middle east. For oil exposure this is his #1 pick. Had some problems with fire at the Horizons plant but this will be back up to about 50% production this quarter and full production next quarter. Should be some info this quarter on their plans for phase 2 that will take effect some time in 2013-2014.

2011-04-06

HOLD

47.950

Value is based on $90 oil so the longer oil stays above that, CNQ will creep up.

2011-04-05

PAST TOP PICK

47.470

Mike S. Newton, CIM FCSI

(A Top Pick April 28/10. Up 25.79%.) Sold his holdings on one of the spikes in mid-November. Likes the company and would like to get back in at some time.

2011-04-04

BUY

46.810

Mohsin Bashir

Prefers over other oil sands companies because of the discount to NAV. Had a bit of a hiccup on the Horizons project and he bought on that. Longer term oil sands is getting global attention.

2011-03-28

STRONG BUY

47.760

Paul Harris, CFA

Loves it. They are a great operator. You have to think about cost and you have to complete projects on time and within budget, which they have done over time. They execute incredibly well.

2011-03-24

PAST TOP PICK

48.440

(Top Pick Mar 16/10, Up 31.66%) Thinks it is a very good company. Good exposure to the oil sands. You want oil supplies close to home with Libya and so on going on.

2011-03-22

WAIT

49.700

You might see oil pull back because it had such a strong run. Oil names would fall. He likes this name. Along with SU he thinks it is a core position in your portfolio.

2011-03-04

TOP PICK

47.970

Laura Wallace

Strong management. Just reported earnings above expectations. Expecting 20% increase in the dividends longer term. Stock dropped because of the fire at the Horizon project so costs, because of repairs, will be a little bit higher. Great way to play oil sands.

2011-03-03

Comment

47.970

Prefers Suncor (SU-T), which sells at a discount to this one. This one has always sold at a premium in the oil patch because of excellent management and excellent properties. Disappointing earnings today. Reserve increase was around 9% on proven and probable reserves but increased their dividend by 20%. Because of the premium you have to look at this as a long term hold.

2011-03-03

BUY

48.350

David Cockfield

Canadian Natural Resources (CNQ-T), Suncor (SU-T) or Crescent Point (CPG-T). Which would be the better hold in terms of better growth over the next year or two? Likes them all but CNQ would probably be the better growth story.

2011-02-25

BUY on WEAKNESS

47.710

Joseph Schachter

Oil prices have been very positive for them and their balance sheet is improving. Cash flow is very strong. This is one you want to own for the long term. Will potentially go over the 2008 highs in the next year or two.

2011-02-22

BUY

47.710

Faltered a little a month ago because of fire. Hopes to be back in full production by middle of the year. Likes management and they have diversification into Gas. Still lots of growth to come out of Horizon.

2011-02-22

HOLD

46.550

A core holding for him. Has long term production growth. If you are positive on oil prices you could get 15%-20% upside some years and maybe not so much others. Had a fire at the Horizon’s plant a while ago and expecting to be half up in the 2nd quarter and fully back by the 3rd quarter.

2011-02-16

Comment

44.380

Starting 2 Coker drums in the oil sands in the 2nd quarter, which would bring them up to half of full capacity and in the 3rd quarter will start 2 more Coker drums. This should be a positive for the name.

2011-02-14

Comment

43.980

Rick Stuchberry

Canadian Natural Resources (CNQ-T) or Crescent Point (CPG-T)? Feels oil prices will stay in the $80 to $100 range. In this case he wants to be paid to sit and wait, so Crescent Point would be his choice. If you are very bullish on oils, then Buy Canadian Natural Resources.

2011-02-07

DON'T BUY

41.900

Don Vialoux

Has had some difficulties lately with their oil sands plant being shut down and a US analyst has just downgraded it. Technically the long-term trend is still there. Seasonally you normally want to Buy this around the 2nd half of February and ride it until May.

2011-01-27

Comment

42.040

Laura Wallace

The Horizon fire is a big thing on production. Has insurance that will cover up to about $2 billion. There are still 2 drums that look operational. Not great in the short term and will have to wait and see. Longer term a very well run company. Could be a Buying opportunity.

2011-01-20

BUY on WEAKNESS

42.310

Ara Nalbandian

Is taking a look at it. Given fire at Horizon, thinks they might get an opportunity in the next couple of weeks to buy. They are a strong operator. He is looking for a pullback to $40 again.

2011-01-19

Comment

41.530

Recently had a fire in the Horizon and stock pulled back about $4. Have a lot of land banked with great properties and great reserves. Extremely good management. Too expensive for him. Will do very well for a long-term investor.

2011-01-14

Comment

41.530

Derek Webb, CFA

Expects oil will go a lot higher and natural gas is still a question mark. This stock will be where it is now or higher a year from now.

2011-01-14

BUY

42.020

Andrew Cook

Recently had upgrader problems so the stock fell back and this is a good opportunity to Buy. Longer-term fundamentals are intact.

2011-01-12

Comment

43.040

Well run high quality company and very successful in their Horizon project. Just announced CapX that is going up a couple of percents. Big inventory to drill of natural gas and crude and will focus on crude for the next couple of years.

2010-12-20

PARTIAL SELL

43.040

Bill Carrigan

Currently a favourite of the institutions. Getting into “window dressing” year-end and portfolio angers that don’t own it are probably going to want it. Might work a bit higher but buying will abate in the 1st week of January. If you own, reduce.

2010-12-20

BUY

42.770

Rick Stuchberry

The environmental side tarnishes all the oil sands companies. They are doing a good job now in expressing their case. There will be technology that comes a long and fixes this problem. A great company. He owns the trust. There is nothing wrong with it. Excellent company.

2010-12-16

BUY

42.500

Doesn’t own but if he were picking a new name, it would be this one. Refocusing on heavy oil. Likes the minimal stages they are taking to the Horizon expansion. Doing some interesting things in SAGD and polymer additions to enhance flow.

2010-12-15

BUY

43.260

David Burrows

Oil sands companies have been under performers for the course of the year. This one is the best of the bunch. Have been very good on the operational side. Has a little growth.

2010-12-13

TOP PICK

42.070

Balanced production very nicely among natural gas, traditional conventional oil and heavy oil and tend to move in the appropriate direction depending on commodity prices..

2010-12-08

BUY

43.070

Laura Lau

Canadian Natural Resources (CNQ-t) or Suncor (SU-T)? Both are good but prefers CNQ because they have already come out with their capital budget, which is on the upside but Suncor has not. This is a fantastic company that is very concerned on return of capital.

2010-12-07

BUY

43.070

Barry Schwartz

If you want to buy something for a very long time, this is the one to own. Sees the company raising the dividend.

2010-12-07

BUY

41.880

John Zechner

Likes it for the growth in the oil sands. Cheap compared to the rest of the group. CapX is in line with expectations.

2010-12-03

HOLD

41.280

Mike S. Newton, CIM FCSI

From a larger perspective there are 2 stocks, Suncor (SU-T) and this one, that you could own for a very long time but neither have delivered any significant returns this year. This would be his 1st choice of these two but there are better ones, such as Crescent Point (CPG-T) out there that gives a 7% yield while you are waiting.

2010-12-01

BUY on WEAKNESS

39.770

Well managed oil/gas and it’s on her watch list. Very successful in operating their oil sands project Horizon. Wanting to Buy in the$35 level. Low yield.

2010-11-29

Comment

39.600

Jamie Horvat

Thinks oil will be staying at a higher price level for an extended period of time. Thinks stock will be range bound unless oil moves above $100 a barrel.

2010-11-26

Comment

39.600

Jamie Horvat

Thinks oil will be staying at a higher price level for an extended period of time. Thinks stock will be range bound unless oil moves above $100 a barrel.

2010-11-26

PAST TOP PICK

39.600

(A Top Pick Dec 11/09. Up 17%.)Great name. Their oil sands project Horizon is the catalyst for it. A cash flow machine.

2010-11-26

Comment

39.760

Change to SAGD technology? They won’t change their existing processes as they have invested billions and it wouldn’t be worth their while. If oil got over $100, then this would be a possible method for surrounding areas.

2010-11-12

BUY

36.590

Paul Harris, CFA

Really likes it. It is a really well run company with really good assets. Very cost effective when they brought projects on. Gas is a very difficult situation but he does like oil at these levels and makes the stock look cheap.

2010-10-21

BUY

36.840

One of the higher quality, better-managed companies in the oil patch. It tends to surprise people on the upside. Last quarter ahead of expectations. Making good margins. Can be a core holding for a lot of portfolios.

2010-10-20

BUY

37.800

Likes it. Likes the real estate they sit on. Stock has a long way to run. Dividend will go up as oil prices go up.

2010-10-18

PAST TOP PICK

37.740

Dennis Da Silva

(A Top Pick Nov 18/09. Up 6.08%.)

2010-10-14

BUY

37.930

Great fan of the company. If he was adding a name today, it would be CNQ.

2010-10-12

Comment

37.920

Norman Levine

Suncor (SU-T) or Canadian Natural Resources? Likes the long-term outlook for oil sands. Suncor is the better valuation of the two but nothing wrong with this one. (See Top Picks.)

2010-10-06

BUY

37.920

Good management brought in Horizons oil sands project on time and under budget. Low cost for a relatively new oil sands project. There will be a few years of production growth. Hasn't kept up with the oil price so relatively cheap.

2010-10-06

BUY

35.590

Jim Huang

Yield of under 1% but it will probably grow. Have a lot of free cash flow in the Horizons project. More of a capital growth stock than a dividend stock.

2010-09-30

BUY

34.230

Probably a reasonable entry point right now. On her watch list. Has a lower yield than the other energies she holds. Premier operator in their Horizons project is doing very well.

2010-09-27

PAST TOP PICK

34.190

(A Top Pick Sept 28/09. Down 5.09%.)

2010-09-21

TOP PICK

34.230

Tony Demarin

Growth primarily in oil sands area. Finished phase 1 of Horizons project with about 110,000 barrels a day. Phase 2 and 3 will raise that to .25 million barrels and 4 and 5 will bring it to half a million barrels a day. Strong history of increasing cash flow back to shareholders.

2010-09-15

BUY

34.400

John Zechner

Likes the growth potential. Not as levered to natural gas as they used to be. Well financed and valuation looks attractive.

2010-09-09

PAST TOP PICK

34.300

(Top Pick Sept 28/09, Down 6% total return) He boosted his weighting in the fund. This and SU are two of the best names in the large cap space. This is a name that is very attractive.

2010-08-31

Comment

34.550

Rick Stuchberry

Cenovus (CVE-T) versus Canadian Natural Resources (CNQ-T)? Both are good companies and both oil oriented with conventional and crude. He prefers something with a significant yield so he owns Canadian Oil Sands (COS.UN-T) instead. (See Top Picks.)

2010-08-30

STRONG BUY

34.710

Anywhere from $75-$85 in oil prices, Canadian oil companies are very profitable. They just reported an excellent quarter and beat on production and cash flow.

2010-08-11

BUY

36.130

Barry Schwartz

Suncor (SU-T) or Canadian Natural Resources (CNQ-T)? Owns and likes both. The better one right now on a valuation basis is CNQ and you get a little bit more bang for your buck. More production and cheaper valuation. In a diversified portfolio you can own both of them and be very happy.

2010-08-10

BUY

36.850

Jim Huang

Have evolved from pure natural gas to largely a balanced, especially oil sand player. Very solid management. A long-term, solid, core holding. Buy more on pullbacks but you can buy today.

2010-08-09

BUY

36.590