Top 5 Oil and Gas Stocks on the TSX and TSXV (Updated July 2022)
The five top oil and gas stocks on the TSX and TSXV are making gains in the face of market volatility.
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Oil and gas prices are moving as demand returns to pre-COVID-19 levels and the Russia/Ukraine war rages.
Despite policy changes by governments looking to transition to cleaner energy sources, oil and gas are expected to continue to play an important role in the world’s energy mix far into the future.
Geopolitical uncertainty will continue to weigh on oil and gas prices throughout 2022 and beyond, but analysts anticipate healthy demand levels for both of the commodities. The five top oil and gas stocks on the TSX and TSXV outlined below have displayed significant growth in 2022 on stronger oil and gas prices.
All yearly performance and share price data was obtained on July 14 using TradingView’s stock screener. All top oil and gas stocks listed had market caps above C$10 million at that time.
Year-to-date increase: 174.29 percent
Razor Energy is an oil and gas development and production company with assets in Alberta, primarily in the Swan Hills, Kaybob and District South areas. The company prides itself on its “legacy proved developed light oil reserves with low annual base decline production and corresponding cash flow.”
The company has also diversified into renewable energy assets, and its subsidiary FutEra Power is advancing a geothermal power project in Swan Hills. Shares of Razor Energy reached their highest point for 2022 so far on March 8, coming in at C$4.14.
Year-to-date increase: 148.39 percent
Pieridae Energy is focused on exploring for and extracting natural gas; it also has midstream infrastructure and integration opportunities in liquefied natural gas exports. The Calgary-based company's highest-producing assets are in the southern and central foothills of Alberta’s Rocky Mountains, and between all of its assets it produces around 40,000 barrels of oil equivalent (boe) per day.
In May, the company reported that its cost discipline strategy resulted in a 127 percent increase in net operating income for the first quarter compared to the same period the previous year. Pieridae Energy saw its share price rise to a year-to-date high of C$1.98 on June 7.
Year-to-date increase: 132 percent
Kolibri Global Energy is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy. Through various subsidiaries, the company owns and operates energy properties in the US. Its flagship property is the Tishomingo shale oil property in Oklahoma’s Ardmore Basin.
In early March, the company announced that its total proved reserves had increased by 3 percent over its December 31, 2020, estimate to reach 34.1 million boe. Shares of Kolibri Global Energy reached their highest level for 2022 on April 18, coming in at C$3.40.
Year-to-date increase: 110 percent
Vital Energy is focused on conventional crude oil exploration, development and production in Western Canada.
Although the oil and gas explorer has not generated news flow in recent months, the stock has still benefited greatly from the rising tide for oil and gas companies brought about by stronger prices and higher demand.
Vital Energy’s shares hit C$0.56, their highest point so far this year, on June 8.
Year-to-date increase: 95.83 percent
Pine Cliff Energy explores for, develops and produces natural gas, crude oil and natural gas liquids. The firm points to the longevity of its assets, along with its share value and income stream, as benefits for shareholders.
Pine Cliff Energy released its Q1 results in early May. During the first quarter of the year, the company’s production averaged 20,397 boe per day — 11 percent higher year-on-year. The company saw its share price reach its highest mark year-to-date at C$2.05 on June 8.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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