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Best Canadian oil stocks

These 5 Canadian oil and gas stocks are worth watching.

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By

Mackenzie Domazet

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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 trading on major US stock exchanges based on performance, price, profit, revenue and dividends.

Latest updates

Tuesday, June 14:
  • Global oil supply has been crippled as North American countries refuse Russian oil as punishment for the country’s invasion of Ukraine and EU countries promise to cut down Russian oil imports by 90% by the end of the year.
  • This has resulted in a continuous increase in oil prices: U.S. gasoline prices hit $5 per gallon for the first time ever and Moody’s Analytics thinks they could hit $5.50 within a couple of weeks.
  • Plus, as China opens back up following COVID lockdowns, this will continue to raise global demand, which will further increase the price of oil.

Wednesday, April 27:

  • Russia cut off natural gas exports to NATO countries Poland and Bulgaria in what is seen as a punishment for Western countries’ support for Ukraine.
  • This will likely impact global economies and other industries as we saw last month.

Wednesday, April 20:

  • The price of oil temporarily entered negative territory in the US due to expiring oil futures contracts, triggering another stock market slump. This was the first time in history that the price of oil went negative.

Wednesday, March 9:

  • Since Russia’s February 24th invasion of Ukraine, oil has soared amidst global volatility.
  • Russia is the world’s largest exporter of oil to global markets, and news that the US is now banning oil imports from Russia has caused oil and gas stocks to surge further.

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.

Finder’s top picks for buying Canadian oil stocks in the US

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Best Canadian oil and gas stocks to watch in 2024

All of the following oil and gas companies are headquartered in Canada but trade on US stock exchanges, making it easy to invest in Canadian oil even if you live in the US.

Canadian Natural Resources logo

1. Canadian Natural Resources Ltd. (CNQ)

Canadian Natural Resources acquires, explores for, develops, produces, markets and sells crude oil, natural gas and natural gas liquids (NGLs). It operates primarily in Western Canada, the United Kingdom portion of the North Sea and Offshore Africa.

  • Market capitalization: $57.486 billion
  • 1-year performance: 17.87%
  • 5-year performance: 211%
  • Dividend yield: 4.62%
  • P/E Ratio: 8.08

Buy CNQ.NYSE now

Cenovus Energy logo

2. Cenovus Energy Inc (CVE)

Cenovus Energy Inc. develops, produces and markets crude oil, natural gas liquids and natural gas in Canada, the United States and the Asia Pacific region.

  • Market capitalization: $33.47 billion
  • 1-year performance: 37.54%
  • 5-year performance: 325%
  • Dividend yield: 1.88%
  • P/E Ratio: 22.22

Buy CVE.NYSE now

Franco-Nevada Corporation logo

3. Franco-Nevada Corporation (FNV)

Franco-Nevada Corporation is a gold-focused royalty and streaming company in Latin America, the United States, Canada and other international markets. Its focuses on precious metals (gold, silver and platinum) and energy (oil, gas and natural gas liquids).

  • Market capitalization: $23.893 billion
  • 1-year performance: -15.28%
  • 5-year performance: 59%
  • Dividend yield: 1.04%
  • P/E Ratio: 32.14

Buy FNV.NYSE now

Teck Resources Limited logo

4. Teck Resources Limited (TECK)

Teck Resources explores for, acquires, develops and produces natural resources in Asia, Europe and North America. It focuses on steelmaking coal, copper, zinc and energy and holds interest in Frontier oil sands projects in the Athabasca region of Alberta.

  • Market capitalization: $13.775 billion
  • 1-year performance: 24.01%
  • 5-year performance: 120%
  • Dividend yield: 1.46%
  • P/E Ratio: 4.40

Buy TECK.NYSE now

Pembina Pipeline Corporation logo

5. Pembina Pipeline Corp (PBA)

Pembina Pipeline provides transportation and midstream services for the energy industry. It operates through 3 segments: Pipelines, Facilities and Marketing & New Ventures.

  • Market capitalization: $19.882 billion
  • 1-year performance: 14.38%
  • 5-year performance: 162%
  • Dividend yield: 5.30%
  • P/E Ratio: 20.15

Buy PBA.NYSE now

Biggest oil companies you can buy stocks in

If your strategy is big oil, here are the biggest oil companies around the world:

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Written by

Mackenzie Domazet

Mackenzie Domazet is a Senior SEO Strategist at Forbes Advisor and former 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. See full profile

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