Oil and Gas

5 Top Weekly TSX Stocks: Obsidian Leads Energy Companies Higher

Oil and Gas Investing
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Last week's top-gaining stocks on the TSX were Obsidian Energy, St. Augustine Gold and Copper, Valeura Energy, Steppe Gold and Advantage Energy.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) edged up last Friday (February 24), closing at 20,219.19.

The index was pushed higher by a rally in energy stocks, which trended upwards on the back of higher oil prices.

Despite this increase on Friday, the index was down for the week. Gold and silver prices also fell last week as investors continued to worry over the US Federal Reserve's rate hike path.

That said, some resource juniors saw their share prices go up last week, with precious metals and energy stocks taking the lead. Here’s a look at the top gainers on the TSX and the factors that moved their share prices last week.

1. Obsidian Energy

Taking the top spot last week is Obsidian Energy, an intermediate-sized oil and gas producer with a portfolio of assets in Alberta, Canada, that produce around 33,000 barrels of oil equivalent per day.

Last Thursday (February 23), the company released its fourth quarter results, reporting that its average production increased 20 percent from 2021. Shares of Obsidian Energy increased 17.69 percent last week to end at C$9.98.

2. St. Augustine Gold and Copper

St. Augustine Gold and Copper is focused on the development of the King-king copper-gold project. The asset is one of the largest undeveloped copper-gold deposits in the world and is a top three mining project priority for the Philippine government.

Despite not releasing any news last week, shares of St. Augustine Gold and Copper increased by 7.69 percent to end at C$0.07.

3. Valeura Energy

Another energy-focused company making the list this week is Valeura Energy, an upstream oil and gas company headquartered in Calgary, Alberta. The company is developing assets in Thailand and in Turkey, and is also pursuing further growth in Southeast Asia through international mergers and acquisitions.

Last week, shares of the company increased 6.31 percent to end at C$2.36.

4. Steppe Gold

Precious metals company Steppe Gold is focused on its 100 percent owned asset in Mongolia, the ATO gold project.

Last Tuesday (February 21), the company updated the life of mine for ATO, adding a further 1.5 years for a 12 year aggregate mine life. Steppe Gold also announced plans to dual list its shares on the Hong Kong exchange.

Last week, shares of Steppe Gold increased 5.94 percent to end the five day period at C$1.07.

5. Advantage Energy

Last but not least this week is Advantage Energy, which is focused on developing its position in the Montney natural gas and liquids resource play. Last Thursday, the company published its year-end results, posting record annual average production of 55,769 barrels of oil equivalent per day, an increase of 13 percent over 2021.

Last week, shares of Advantage Energy increased 4.99 percent to end the five day period at C$8.63.

Data for 5 Top Weekly TSX Performers articles is retrieved each Friday after market close using TradingView's stock screener. Only companies with market capitalizations greater than C$50 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Steppe Gold is a client of the Investing News Network. This article is not paid-for content.

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