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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.
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.
Our selection of top picks is based on the same criteria as our annual Stock Trading Platform Awards. This is updated yearly to reflect changes in the market.
"Best for" picks are those we've evaluated to be best for specific product features or categories – you can read our full methodology here. If we show a "Promoted" pick, it's been chosen from among our commercial partners and is based on factors that include special features or offers, and the commission we receive.
This isn't an exhaustive list of all the trading platforms out there. What's best for you depends on your own investing strategy, budget and financial goals.
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 and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.
NuVista Energy Ltd., an oil and natural gas company, engages in the exploration, development, and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin. It primarily focuses on the condensate rich Montney formation in the Wapiti and Pipestone areas of the Alberta Deep Basin.
Birchcliff Energy Ltd., an intermediate oil and natural gas company, acquires, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the Montney/Doig resource play located approximately 95 km northwest of Grande Prairie, Alberta.
Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan.
Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).
We used Finder’s proprietary algorithm to identify the best Canadian oil stocks listed on the TSX based on price, performance, profit, revenue and dividends. Our fundamental analysis filters stocks by taking into account historical prices, dividends, revenue growth, (low) price volatility and profit margins.
To avoid smaller, more speculative oil and gas stocks, we only include companies with a market cap of more than CAD $200 million. In order to better compare historical data, we filtered out oil stocks that have been listed for less than five years.
We do not guarantee the performance or returns of any investment. Our methodology might filter out some good stocks, so our decision to include or exclude a stock from this list does not indicate whether it’s a good or bad investment. For more info about our algorithm, check out our stock ranking page.
The algorithm was last updated January 27, 2022. This list and data was compiled October 6, 2022.
Biggest oil companies you can buy stocks in
If your strategy is big oil, here are the biggest oil companies around the world:
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.
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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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Mackenzie Domazet is investments publisher at Finder. She has worked at one of Canada’s largest financial institutions, as well as one of the country's fastest growing fintech companies. She also films videos for the Investment Finder YouTube channel, where she explains financial concepts, reviews trading platforms and more. An active growth investor, Mackenzie has been investing on her own since she was 18. She has a bachelor’s degree in business and is an avid runner and reader.
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