Goldman Sachs Energy Stocks: 10 Stocks to Buy

4. Canadian Natural Resources Limited (NYSE:CNQ)

Goldman Sachs Equity Stakes: $688.29 Million

Number of Hedge Fund Holders: 52

Canadian Natural Resources Limited (NYSE:CNQ) is one of Goldman Sachs’ top energy stock picks. On June 20, the company reached an agreement with Canada’s Competition Bureau to settle competition concerns tied to its acquisition of Schlumberger’s stake in a joint natural gas venture.

Regulators had raised concerns over the company’s push to acquire 87.5% interest in a portfolio of 16 natural gas processing plans. There were concerns that the acquisition would strengthen the company’s edge in the sector and throttle competition, especially around Schlumberger’s stake in a joint natural gas venture.

The Competition Bureau had argued that the acquisition would lead to significant market concentration and reduce customer choices. There were also fears that the consolidation could drive up prices for natural gas producers. In its agreement with the competition authority, Canadian Natural Resources has agreed to divest a 75% stake in the Seiu Lake facility to North 40 Resources Inc.

Canadian Natural Resources Limited (NYSE:CNQ) is an independent producer of crude oil and natural gas. It operates across a diversified portfolio of assets, including conventional natural gas and light crude oil.