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# Canadian Natural Resources: Almost All The Signs Point To A Buy (Archive)
- URL: https://www.huntingalphas.com/canadian-natural-resources-almost-all-the-signs-point-to-a-buy-archive/
- Published: 2024-09-24T02:43:00.000Z
- Updated: 2026-02-27T13:28:17.000Z
- Description: Natural gas tailwinds and improving unit economics could soon unlock higher-margin growth for CNQ.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, CNQ, Energy

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- There's been disappointments in margins delivery for Canadian Natural Resources, partly driven by higher conversion costs. This has led to downgraded earnings expectations by Wall St analysts.
- Synthetic crude prices are stable and natural gas prices have positive tailwinds. CNQ is set to benefit from this via increased production at more favorable economics.
- Total equivalent production of crude oil and natural gas is currently steady. Gross profit unit economics are improving. I anticipate further upside in both these variables.
- Valuations indicate fair value to slightly expensive as CNQ stock trades near its longer term 1-yr fwd EV/EBITDA and at a modest 11.5% premium vs peers.
- Relative technicals are bullish, posting a bull flag on the monthly chart. But there's no ideal buy trigger yet in the form of a false breakout to the downside.

Read the full article [here](https://seekingalpha.com/article/4722835-canadian-natural-resources-stock-almost-all-signs-point-buy?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*