10 Canadian oil and gas stocks to watch

Considering investing in Canadian oil and gas stocks? While the best Canadian oil and gas stocks depend on your portfolio and investment goals, we've identified some Canadian oil and gas stocks that are worth keeping an eye on in the Canadian energy sector. Keep reading to learn more about Canadian oil and gas stocks and how to start investing.

10 popular Canadian oil and gas stocks to watch

We round up a selection of stocks in or related to the Canadian energy industry, weighting the list more heavily towards popular mid- and large-cap stocks.

Best stock	1-year return	Market cap	Exchange	Volume	Buy on Questrade
Canadian Natural Resources (CNQ.TO)	82.44% Canadian Natural Resources's 1-year return based on the closing price as of October 21, 2025.	$146 billion (CAD)	Toronto Stock Exchange	6,021,628	Buy now
Baytex Energy (BTE.TO)	144.55% Baytex Energy's 1-year return based on the closing price as of October 21, 2025.	$5.2 billion (CAD)	Toronto Stock Exchange	4,164,851	Buy now
Tourmaline Oil (TOU.TO)	8.51% Tourmaline Oil's 1-year return based on the closing price as of October 21, 2025.	$24.8 billion (CAD)	Toronto Stock Exchange	1,822,230	Buy now
Birchcliff Energy (BIR.TO)	14.56% Birchcliff Energy's 1-year return based on the closing price as of October 17, 2025.	$1.9 billion (CAD)	Toronto Stock Exchange	714,555	Buy now
Cardinal Energy (CJ.TO)	92.30% Cardinal Energy's 1-year return based on the closing price as of October 20, 2025.	$2.3 billion (CAD)	Toronto Stock Exchange	1,245,870	Buy now
Suncor Energy (SU.TO)	92.56% Suncor Energy's 1-year return based on the closing price as of October 21, 2025.	$130.2 billion (CAD)	Toronto Stock Exchange	2,493,040	Buy now
Imperial Oil (IMO.TO)	59.60% Imperial Oil's 1-year return based on the closing price as of October 21, 2025.	$89.4 billion (CAD)	Toronto Stock Exchange	602,394	Buy now
Cenovus Energy (CVE.TO)	91.98% Cenovus Energy's 1-year return based on the closing price as of October 21, 2025.	$85.7 billion (CAD)	Toronto Stock Exchange	6,025,580	Buy now
Enbridge (ENB.TO)	0.33% Enbridge's 1-year return based on the closing price as of October 21, 2025.	$151.7 billion (CAD)	Toronto Stock Exchange	4,925,616	Buy now
Cenovus Energy (CVE.TO)	91.98% Cenovus Energy's 1-year return based on the closing price as of October 21, 2025.	$85.7 billion (CAD)	Toronto Stock Exchange	6,025,580	Buy now

The values in this table are accurate as of the market close on October 18, 2026, or the most recent data available. Volume refers to the number of shares traded during the day.

What to look for when investing in Canadian oil and gas stock

The Canadian energy industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering Canadian oil and gas stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Also keep in mind that, while volatility can be ideal for day traders, long-term investors will want to look for stocks to offer steadier gains over time.

How to invest in Canadian oil and gas stock

1. Research the Canadian energy industry. Before investing, learn about the Canadian oil and gas stock sector, its trends and the companies within it. Look at each company's financial health, potential for growth and past performance to identify stocks that fit your investment goals.
2. Choose a stock trading platform. Compare trading fees, access to trading tools and user interface options. We've identified reliable trading platforms to help narrow down your options below or check out the best stock trading apps in Canada to find one that suits your needs.
3. Open and fund your account. Sign up with your personal details and link a bank account or funding method to deposit money before you start trading.
4. Select the Canadian oil and gas stock(s) to buy. Search by company name or ticker symbol, like CNQ or BTE. Compare key metrics such as market cap, price history and earnings per share to pick the best stock for your strategy.
5. Buy the stock and monitor performance. Place your order to buy the stock and track its performance over time. Consider setting alerts, signing up for industry newsletters or using platform research tools to stay up to date on market changes.

Our top picks for where to buy Canadian oil and gas stocks

Are Canadian oil and gas stocks a good investment?

While it's possible to turn a profit investing in Canadian oil and gas stocks, keep in mind that—like any investment—Canadian oil and gas stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the Canadian energy industry, so carefully vet your picks before you invest.

What are the best Canadian oil and gas stocks?

A lot of factors go into picking the best Canadian oil and gas stocks. Stock performance can be impacted by factors like market conditions, company decisions and global events. Plus, what may be a strong Canadian oil and gas stock investment for one person might not be suitable for another.

That said, we rounded up this list of popular Canadian oil and gas stocks in or related to the Canadian energy industry to help narrow down your options:

• Canadian Natural Resources (CNQ)
• Baytex Energy (BTE)
• Tourmaline Oil (TOU)
• Birchcliff Energy (BIR)
• Cardinal Energy (CJ)
• Suncor Energy (SU)
• Imperial Oil (IMO)
• Cenovus Energy (CVE)
• Enbridge (ENB)
• Cenovus Energy (CVE)

Keep in mind that this is not a "best" list or a recommendation. It highlights some Canadian oil and gas stocks for informational purposes only and does not indicate past or future performance or investment advice. We do not guarantee any investment performance.

We've outlined detailed company and stock performance details for each Canadian oil and gas stock below. Keep reading to decide if any of these companies are the right investment for you.

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Canadian Natural Resources (CNQ)

Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, primary heavy crude oil and Pelican Lake heavy crude oil.

Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

Closing stock price	C$76.46
Market Capitalization The total market value of Canadian Natural Resources's outstanding shares	C$146 billion
Gross profit (TTM)	C$23 billion
Profit margin	26.31%
Revenue (TTM)	C$44.7 billion
Earnings per share (TTM)	C$5.63
52-week stock price range	C$39.97 – C$72.08

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 18, 2026.

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Baytex Energy (BTE)

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin. It offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.

The company also holds 100% interest in Duvernay and Peace River properties in Alberta; and Lloydminster property in Alberta and Saskatchewan.

Closing stock price	C$7.63
Market Capitalization The total market value of Baytex Energy's outstanding shares	C$5.2 billion
Gross profit (TTM)	C$987.6 million
Profit margin	-42.86%
Revenue (TTM)	C$1.7 billion
Earnings per share (TTM)	-C$0.54
52-week stock price range	C$3.02 – C$7.53

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 18, 2026.

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Tourmaline Oil (TOU)

Tourmaline Oil Corp. engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex.

Tourmaline Oil Corp. was incorporated in 2008 and is headquartered in Calgary, Canada.

Closing stock price	C$66.16
Market Capitalization The total market value of Tourmaline Oil's outstanding shares	C$24.8 billion
Gross profit (TTM)	C$2.3 billion
Profit margin	7.85%
Revenue (TTM)	C$4.8 billion
Earnings per share (TTM)	C$0.93
52-week stock price range	C$56.61 – C$69.45

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 18, 2026.

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Birchcliff Energy (BIR)

Birchcliff Energy Ltd., an intermediate oil and natural gas company, engages in the exploration, development, and production of natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds 91% working interest in the Pouce Coupe area is located northwest of Grande Prairie, Alberta; and 75% working interest in the Gordondale area is located northwest of Grande Prairie, Alberta.

It also holds interest in Elmworth area located in west of Grande Prairie, Alberta.

Closing stock price	C$6.63
Market Capitalization The total market value of Birchcliff Energy's outstanding shares	C$1.9 billion
Gross profit (TTM)	C$463.5 million
Profit margin	13.38%
Revenue (TTM)	C$716.1 million
Earnings per share (TTM)	C$0.35
52-week stock price range	C$5.67 – C$8.07

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 8, 2026.

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Cardinal Energy (CJ)

Cardinal Energy Ltd. engages in the acquisition, exploration, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan in Canada. The company was incorporated in 2010 and is headquartered in Calgary, Canada.

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Closing stock price	C$13.61
Market Capitalization The total market value of Cardinal Energy's outstanding shares	C$2.3 billion
Gross profit (TTM)	C$338.5 million
Profit margin	11.46%
Revenue (TTM)	C$550 million
Earnings per share (TTM)	C$0.36
52-week stock price range	C$7.01 – C$13.14

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 18, 2026.

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Suncor Energy (SU)

Suncor Energy Inc. operates as an integrated energy company in Canada, the United States, and internationally. The company operates through Oil Sands; Exploration and Production; and Refining and Marketing segments.

The Oil Sands segment produces bitumen; and markets, supplies, and transports and manages crude oil, power, and byproducts.

Closing stock price	C$103.04
Market Capitalization The total market value of Suncor Energy's outstanding shares	C$130.2 billion
Gross profit (TTM)	C$34.2 billion
Profit margin	15.78%
Revenue (TTM)	C$56.6 billion
Earnings per share (TTM)	C$7.30
52-week stock price range	C$51.43 – C$110.57

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 8, 2026.

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Imperial Oil (IMO)

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates in three segments: Upstream, Downstream and Chemical segments.

The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen.

Closing stock price	C$190.83
Market Capitalization The total market value of Imperial Oil's outstanding shares	C$89.4 billion
Gross profit (TTM)	C$9.3 billion
Profit margin	8.06%
Revenue (TTM)	C$51.6 billion
Earnings per share (TTM)	C$8.60
52-week stock price range	C$113.03 – C$190.31

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 18, 2026.

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Cenovus Energy (CVE)

Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China. It operates through Upstream and Downstream segments.

The company is involved in the development and production of bitumen and heavy oil; owns and operates pipeline gathering systems and terminals; operation of assets rich in NGLs and natural gas in Alberta and British Columbia; and offshore operations, exploration, and development activities in the East Coast of Canada and the Asia Pacific region.

Closing stock price	C$44.75
Market Capitalization The total market value of Cenovus Energy's outstanding shares	C$85.7 billion
Gross profit (TTM)	C$16.1 billion
Profit margin	12.37%
Revenue (TTM)	C$53.9 billion
Earnings per share (TTM)	C$3.58
52-week stock price range	C$21.26 – C$47.45

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 8, 2026.

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Enbridge (ENB)

Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company. The company operates through four segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation.

The Liquids Pipelines segment operates pipelines and related terminals to transport, store, and export various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

Closing stock price	C$66.51
Market Capitalization The total market value of Enbridge's outstanding shares	C$151.7 billion
Gross profit (TTM)	C$27.2 billion
Profit margin	7.34%
Revenue (TTM)	C$83.5 billion
Earnings per share (TTM)	C$2.59
52-week stock price range	C$59.99 – C$79.56

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 8, 2026.

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Cenovus Energy (CVE)

Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada, the United States, and China. It operates through Upstream and Downstream segments.

The company is involved in the development and production of bitumen and heavy oil; owns and operates pipeline gathering systems and terminals; operation of assets rich in NGLs and natural gas in Alberta and British Columbia; and offshore operations, exploration, and development activities in the East Coast of Canada and the Asia Pacific region.

Closing stock price	C$44.75
Market Capitalization The total market value of Cenovus Energy's outstanding shares	C$85.7 billion
Gross profit (TTM)	C$16.1 billion
Profit margin	12.37%
Revenue (TTM)	C$53.9 billion
Earnings per share (TTM)	C$3.58
52-week stock price range	C$21.26 – C$47.45

All dollar amounts in this table are in CAD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on October 8, 2026.

Compare trading platforms to buy Canadian oil and gas stock

Compare special offers, low fees and a wide range of investment options among popular trading platforms in Canada. Note that the dollar amounts in the table below are in CAD.

Related: Compare the best stock trading platforms in Canada

Bottom line

If you're considering adding Canadian oil and gas stocks to your portfolio, make sure you thoroughly look into any companies before investing to help mitigate risk. We've compiled a list of Canadian oil and gas stocks to help narrow down your options. Then choose a legitimate stock trading platform to start investing. After that it comes down to monitoring the Canadian energy industry to know when to buy, sell or hold. How to buy stocks in Canada

Frequently asked questions about Canadian oil and gas stocks

• What are Canadian oil and gas stocks?

  Canadian oil and gas stocks are shares of companies that either directly work in the Canadian oil and gas sector or operate within related industries. Investors interested in buying Canadian oil and gas stocks may be looking to take advantage of market trends or lock in investments for the long haul.

• What is the top Canadian oil and gas stock to buy in 2026?

  Unfortunately, it's almost impossible to choose a single "top" Canadian oil and gas stock to invest in due to factors like market fluctuations, company management and shifting economic trends. These can all change—sometimes overnight—how a stock performs. It's best to do your own research to decide which companies fit within your risk tolerance. Reviewing a company's financial reports and past stock performance can help you decide if it's worth investing in.

• Where can I find information and regular updates about the Canadian energy industry?

  You can keep track of the latest Canadian energy news and updates by signing up for financial newsletters, visiting financial news sites, reading company investor relations pages and using market research platforms. Many online brokerages also offer sector reports, stock screeners and alerts to help you track movements in your stock performance or updates in or related to the Canadian energy industry.

Check these other commodities and investment sectors

If you're thinking about diversifying your portfolio and investing in sectors beyond Canadian oil and gas stocks, here are some others you can consider:

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