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Is CNQ Stock a Buy While it's Below $45? [Yahoo! Finance Canada]

Chevron Corporation (CVX) More Company Research Source: Yahoo! Finance Canada

Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report

US:NYSE Investor Relations: chevron.com/investors

Canadian Natural Resources TSX:CNQ ) is up more than 10% in recent weeks. Investors who missed the bounce are wondering if CNQ stock is still undervalued and good to buy for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) focused on dividends and long-term total returns. CNQ share price CNRL trades near $44 per share at the time of writing. The stock hit a 12-month low of around $38 in early March and is still way off the 12-month high above $56. Most of the pullback is due to weaker oil prices. West Texas Intermediate (WTI) oil trades near US$68 today compared to more than US$85 last spring. Weak demand in China has combined with rising production in non-OPEC suppliers, including Canada and the United States, to pressure prices. The market also reacted unfavourably last year to CNRL's decision to buy Chevron Canada's assets for US$6.5 billion in a cash deal that provided a boost to production and reserves but also added debt to th [Read more]

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