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Best oil stocks in Canada

These are the 6 best Canadian oil and gas stocks to watch in April 2024.

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.

Best for Beginners

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  • Easy-to-use platform
  • Low fees
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Best for Lowest Commissions

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Low margin rates
  • Access to international stock exchanges
  • Low margin rates
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Best for Easy-to-use App

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Low commissions
  • $50 in free trades
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Best Canadian oil and gas stocks to watch in 2024


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$4.308 billion
  • YTD performance: 681.16%
  • 1 Year performance: 39.64%
  • 5 Year performance: 1758.63%
  • P/E Ratio: N/A
  • Headquarters: Canada

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NuVista Energy Ltd. (NVA.TO)

NuVista Energy Ltd., together with its subsidiary, engages in the exploration, development, and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin. The company is involved in the development, delineation, and production of condensate, natural gas liquids, and natural gas reserves.
  • Market cap: C$2.579 billion
  • YTD performance: 1239.37%
  • 1 Year performance: 30.61%
  • 5 Year performance: 4562.97%
  • P/E Ratio: 7.5273
  • Headquarters: Canada

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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$23.402 billion
  • YTD performance: 285.74%
  • 1 Year performance: 24.47%
  • 5 Year performance: 842.72%
  • P/E Ratio: 13.2366
  • Headquarters: Canada

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Birchcliff Energy Ltd. (BIR.TO)

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.
  • Market cap: C$1.483 billion
  • YTD performance: 211.74%
  • 1 Year performance: 20.26%
  • 5 Year performance: 771.88%
  • P/E Ratio: 138
  • Headquarters: Canada

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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: 761.45%
  • 1 Year performance: 23.49%
  • 5 Year performance: 1942.86%
  • P/E Ratio: 6.5583
  • Headquarters: Canada

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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$118.835 billion
  • YTD performance: 263.11%
  • 1 Year performance: 59.88%
  • 5 Year performance: 856.42%
  • P/E Ratio: 14.8541
  • Headquarters: Canada

Buy 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 - 4 of 4
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
Interactive Brokers
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CIBC Investor's Edge
Finder Score:
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3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$6.95
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An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Questrade
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Qtrade Direct Investing
Finder Score:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
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Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.
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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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