Depends on the finish you desire on said wood. Walnut, being somewhat porous will suck up a fair bit
of oil based finish such as linseed, tung oil or Tru Oil. Waxes will fill in the pores better and are easier
to re-apply. If you subject your gun to the weather a fair bit, then a good sealing with waxed based
finish both inside the stock & out will serve you well.
I've always had good results with Tru Oil and use it because I like the shine & durability of the stuff.
Of course, one can dull the shine with 4-0 steel wool or fine Scotch Brite pads.![]()
Can you use the wax over a tung oiled stock?
Yes, oils get absorbed by the wood, and can help preserve it. Wax helps as well, but sits "on top" of the wood. Both together provide good protection, but without a sealant on top of the oil and below the wax, still easy enough to damage with chemicals like salt in your hands. We're talking very long term here. For most use cases, oil+wax is fine! and what I am planning on using for a new Boyd's stock.
Yes you can apply the wax over a Tung Oiled stock, but wait about a month for the oil to dry up well before applying for best results. Natural Tung oil with zero additives will dry it just takes longer. As stated the oil will be "in" the wood, the wax will be on the surface.
Howards Feed & Wax works well.
Schaftol all the way.
This is what the Cody firearms museum uses, except theirs is Renaissance Wax.



























