Best oil stocks in Canada
These are the 6 best Canadian oil and gas stocks to watch in December 2023.
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.
- Access to international stock exchanges
- Low margin rates
- Powerful research tools
Best Canadian oil and gas stocks to watch in 2023
Baytex Energy Corp (BTE.TO)
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.- Market cap: C$4.168 billion
- YTD performance: 534.79%
- 1 Year performance: 13.48%
- 5 Year performance: 1410.35%
- P/E Ratio: 4.041
- Headquarters: Canada
NuVista Energy Ltd. (NVA.TO)
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.- Market cap: C$2.467 billion
- YTD performance: 1089.37%
- 1 Year performance: 10.7%
- 5 Year performance: 4040.75%
- P/E Ratio: 5.9948
- Headquarters: Canada
Tourmaline Oil Corp. (TOU.TO)
Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin.- Market cap: C$22.079 billion
- YTD performance: 257.77%
- 1 Year performance: 19.26%
- 5 Year performance: 774.37%
- P/E Ratio: 22.3414
- Headquarters: Canada
Birchcliff Energy Ltd. (BIR.TO)
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.- Market cap: C$1.733 billion
- YTD performance: 254.75%
- 1 Year performance: -1.7%
- 5 Year performance: 892.19%
- P/E Ratio: 20.3125
- Headquarters: Canada
Cardinal Energy Ltd (CJ.TO)
Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan.- Market cap: C$1.248 billion
- YTD performance: 653.02%
- 1 Year performance: -0.47%
- 5 Year performance: 1685.72%
- P/E Ratio: 6.5583
- Headquarters: Canada
Canadian Natural Resources Ltd (CNQ.TO)
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).- Market cap: C$98.208 billion
- YTD performance: 171.17%
- 1 Year performance: 23.33%
- 5 Year performance: 614.25%
- P/E Ratio: 13.9598
- Headquarters: Canada
Biggest oil companies you can buy stocks in
If your strategy is big oil, here are the biggest oil companies around the world:
- Royal Dutch Shell. A British-Dutch oil and gas company
- BP. A multinational oil and gas company
- Exxon Mobil. An American oil and gas corporation
- Chevron Corporation. An energy corporation based in California, USA
- ConocoPhillips. A multinational energy corporation in the US
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.
Looking for oil alternatives?
More on investing

How to read stock charts
Learning how to read stock charts and recognize chart patterns can unlock your success as a trader.
Read more…
What are stocks?
Owning a stock means you own part of a company and can potentially grow your wealth. But there is a risk of loss.
Read more…
How to analyze a stock
Learn how to research stocks and find the right investment opportunities in 4 steps.
Read more…
3 strategies for investing in volatile markets
Market volatility can be nerve-wracking. Discover 3 trading strategies plus the pros, cons and risks of investing in volatile markets.
Read more…
Dow Jones vs S&P 500
Find out the key differences between the Dow Jones and S&P 500 plus key points to consider before investing.
Read more…
How to buy football club stocks
A simple guide to buying stocks in your favourite European soccer team.
Read more…More guides on Finder
-
How to buy Yoshitsu Co. stock in Canada
Steps to owning and managing Yoshitsu Co. stocks, with 24-hour and historical pricing before you buy.
-
How to buy Cerberus Cyber Sentinel stock in Canada
Steps to owning and managing Cerberus Cyber Sentinel stocks, with 24-hour and historical pricing before you buy.
-
How to buy Fresh Grapes LLC stock in Canada
Steps to owning and managing Fresh Vine Wine, Inc stocks, with 24-hour and historical pricing before you buy.
-
How to buy Quest Diagnostics Incorporated stock in Canada
Steps to owning and managing DGX with 24-hour and historical pricing before you buy.
-
How to buy Nuvectis Pharma (NVCT) stock in Canada when it goes public
Everything we know about the Nuvectis Pharma IPO plus information on how to buy in.
-
How to buy BuzzFeed stock in Canada
Steps to owning and managing BuzzFeed, Inc stocks, with 24-hour and historical pricing before you buy.
-
Best renewable energy stocks
These are the best renewable energy stocks to buy now in Canada.
-
How to buy ADMA Biologics stock in Canada
Steps to owning and managing ADMA with 24-hour and historical pricing before you buy.
-
How to buy Dycom Industries stock in Canada
Steps to owning and managing DY with 24-hour and historical pricing before you buy.
-
How to buy VICI Properties stock in Canada
Steps to owning and managing VICI with 24-hour and historical pricing before you buy.