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Best oil stocks in Canada

These are the best Canadian oil and gas stocks to watch in June 2022.

Canada is home to a number of oil and gas companies. Here is Finder’s list of the best Canadian oil stocks to buy right now based on performance, price, profit, revenue and dividends.

Latest updates

Tuesday, June 14:

  • Global oil supply has been crippled as North American countries refuse Russian oil as punishment for the country’s invasion of Ukraine and EU countries promise to cut down Russian oil imports by 90% by the end of the year.
  • This has resulted in a continuous increase in oil prices: U.S. gasoline prices hit $5 per gallon for the first time ever and Moody’s Analytics thinks they could hit $5.50 within a couple of weeks.
  • Plus, as China opens back up following COVID lockdowns, this will continue to raise global demand, which will further increase the price of oil.

Wednesday, April 27:

  • Russia cut off natural gas exports to NATO countries Poland and Bulgaria in what is seen as a punishment for Western countries’ support for Ukraine.
  • This will likely impact global economies and other industries as we saw last month.

Wednesday, April 20:

  • The price of oil temporarily entered negative territory in the US due to expiring oil futures contracts, triggering another stock market slump. This was the first time in history that the price of oil went negative.

Wednesday, March 9:

  • Since Russia’s February 24th invasion of Ukraine, oil has soared amidst global volatility.
  • Russia is the world’s largest exporter of oil to global markets, and news that the US is now banning oil imports from Russia has caused oil and gas stocks to surge further.

What you should know before buying oil stocks

This list of the best Canadian oil and gas stocks is meant to help you conduct your own research in finding the best oil stocks to buy right now. It is not investment advice. No single oil stock or list of stocks will suit all investors, and we all have different goals and needs. Always remember that past performance does not guarantee future results.

Best Canadian oil and gas stocks to watch in 2022


Crescent Point Energy logo

1. Crescent Point Energy Corp. (CPG.TO)

Crescent Point Energy Corp. explores, develops and produces light and medium crude oil and natural gas reserves in Western Canada and the United States.

  • Market cap: C$5.396 billion
  • YTD performance: 39.11%
  • 1 Year performance: 104.58%
  • 5 Year performance: 330%
  • P/E Ratio: 2.28
Buy CPG on CIBC Investor's Edge

Franco-Nevada Corporation logo

2. Franco-Nevada Corporation (FNV.TO)

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa and internationally. It operates through two segments, Mining and Energy.

  • Market cap: C$39.108 billion
  • YTD performance: 16.83%
  • 1 Year performance: 15.36%
  • 5 Year performance: 56%
  • P/E Ratio: 42.33
Buy FNV on CIBC Investor's Edge

BayTex Energy Corp logo

3. Baytex Energy Corp. (BTE.TO)

Baytex Energy Corp. is an oil and gas corporation based in Calgary, Alberta. The company acquires, develops and produces crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States.

  • Market cap: C$3.814 billion
  • YTD performance: 71.36%
  • 1 Year performance: 440.32%
  • 5 Year performance: 352%
  • P/E Ratio: 2.38
Buy BTE on Interactive Brokers

NuVista Energy Ltd. logo

4. NuVista Energy Ltd. (NVA.TO)

NuVista Energy Ltd. is a condensate and natural gas company that develops, delineates and produces condensate, oil and natural gas reserves in the Western Canadian Sedimentary Basin.

  • Market cap: C$2.428 billion
  • YTD performance: 53.30%
  • 1 Year performance: 420.49%
  • 5 Year performance: 345%
  • P/E Ratio: 9.36
Buy NVA on Interactive Brokers

PrairieSky Royalty Ltd. logo

5. PrairieSky Royalty Ltd. (PSK.TO)

Pipestone Energy Corp. engages in the exploration, development, and production of oil and natural gas liquids in Western Canada. Pipestone Energy Corp. is a subsidiary of Canadian Non-Operated Resources LP.

  • Market cap: C$4.126 billion
  • YTD performance: 26.78%
  • 1 Year performance: 36.28%
  • 5 Year performance: 208%
  • P/E Ratio: 31.42
Buy PSK on Interactive Brokers

Biggest oil companies you can buy stocks in

If your strategy is big oil, here are the biggest oil companies around the world:

How to invest in oil in Canada

Buy Canadian oil and gas stocks through an online broker

To invest in any of these oil and gas stocks, you’ll need a brokerage account. Compare online stock trading platforms below and click “Go to site” to get started.

1 - 6 of 6
Name Product Finder Rating Stock Trading Fee Account Fee Available Asset Types Offer
OFFER
CIBC Investor's Edge
Finder Rating:
★★★★★
4 / 5
$4.95–$6.95
$0 if conditions met, otherwise $100 a year
Stocks, Bonds, Options, Mutual Funds, ETFs
Young investors 18 to 24 can get free online trades and a $0 annual account fee. Conditions apply.
Interactive Brokers
Finder Rating:
★★★★★
4.1 / 5
Min. $1.00, Max. 0.5%
$0
Stocks, Bonds, Options, ETFs, Currencies, Futures
Scotia iTRADE
Finder Rating:
★★★★★
3.8 / 5
$4.99–$9.99
$0
Bonds, Options, Mutual Funds, ETFs, GICs, International Equities
FREE TRADES
Wealthsimple Trade
Finder Rating:
★★★★★
3.9 / 5
$0
$0
Stocks, ETFs
Get $25 when you open a Wealthsimple Trade account and fund at least $150.
Questrade
Finder Rating:
★★★★★
4.2 / 5
$4.95 - $9.95
$0
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
Get $50 in free trades when you fund your account with a minimum of $1,000.
OFFER
Qtrade Direct Investing
Finder Rating:
★★★★★
4.1 / 5
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends August 31, 2022.
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Compare up to 4 providers


Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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