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Canadian (TSX) Oil and Gas Industry Analysis

UpdatedSep 25, 2025
DataAggregated Company Financials
Companies183
  • 7D2.3%
  • 3M12.7%
  • 1Y19.0%
  • YTD13.3%

In the last week, the Oil and Gas industry is up 2.3%, with Enbridge up 2.8%. This means that the industry has gained 19% over the past year. Looking forward, earnings are forecast to grow by 4.2% annually.

Industry Valuation and Performance

Has the Canadian Oil and Gas Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Sep 2025CA$767.4bCA$390.7bCA$43.9b12.5x17.5x2x
Sat, 23 Aug 2025CA$714.4bCA$390.7bCA$43.8b12.2x16.3x1.8x
Mon, 21 Jul 2025CA$696.0bCA$394.4bCA$42.8b11.8x16.3x1.8x
Wed, 18 Jun 2025CA$750.2bCA$394.3bCA$42.8b13.1x17.5x1.9x
Fri, 16 May 2025CA$668.5bCA$394.5bCA$42.8b11x15.6x1.7x
Sun, 13 Apr 2025CA$603.1bCA$386.7bCA$38.8b10.5x15.5x1.6x
Tue, 11 Mar 2025CA$641.2bCA$387.5bCA$38.4b10.6x16.7x1.7x
Thu, 06 Feb 2025CA$679.7bCA$388.0bCA$44.9b10.7x15.1x1.8x
Sat, 04 Jan 2025CA$686.9bCA$388.4bCA$45.1b10.9x15.2x1.8x
Mon, 02 Dec 2024CA$707.7bCA$388.1bCA$45.1b10.9x15.7x1.8x
Wed, 30 Oct 2024CA$686.2bCA$386.3bCA$43.8b11x15.7x1.8x
Fri, 27 Sep 2024CA$643.1bCA$386.5bCA$43.8b11.1x14.7x1.7x
Sun, 25 Aug 2024CA$668.0bCA$376.5bCA$43.3b12.1x15.4x1.8x
Tue, 23 Jul 2024CA$651.6bCA$366.3bCA$43.4b11.5x15x1.8x
Thu, 20 Jun 2024CA$632.1bCA$366.1bCA$43.4b11.7x14.6x1.7x
Sat, 18 May 2024CA$667.5bCA$367.9bCA$43.8b12.3x15.2x1.8x
Mon, 15 Apr 2024CA$667.3bCA$368.1bCA$48.4b10.1x13.8x1.8x
Wed, 13 Mar 2024CA$621.0bCA$363.9bCA$48.6b8.4x12.8x1.7x
Fri, 09 Feb 2024CA$587.2bCA$384.6bCA$47.3b6.8x12.4x1.5x
Sun, 07 Jan 2024CA$612.2bCA$386.1bCA$47.7b6.7x12.8x1.6x
Tue, 05 Dec 2023CA$621.8bCA$386.4bCA$47.8b6.5x13x1.6x
Thu, 02 Nov 2023CA$624.6bCA$401.4bCA$54.8b6.4x11.4x1.6x
Sat, 30 Sep 2023CA$627.2bCA$401.3bCA$55.6b6.5x11.3x1.6x
Mon, 28 Aug 2023CA$593.6bCA$401.3bCA$55.5b6.1x10.7x1.5x
Wed, 26 Jul 2023CA$577.9bCA$436.5bCA$67.4b5.3x8.6x1.3x
Fri, 23 Jun 2023CA$551.7bCA$437.9bCA$68.1b4.2x8.1x1.3x
Sun, 21 May 2023CA$555.9bCA$437.4bCA$67.9b4.8x8.2x1.3x
Tue, 18 Apr 2023CA$594.0bCA$449.7bCA$69.9b4.2x8.5x1.3x
Thu, 16 Mar 2023CA$536.1bCA$449.7bCA$70.4b4x7.6x1.2x
Sat, 11 Feb 2023CA$610.2bCA$438.6bCA$75.6b5.2x8.1x1.4x
Mon, 09 Jan 2023CA$580.1bCA$437.0bCA$74.7b4.8x7.8x1.3x
Wed, 07 Dec 2022CA$596.1bCA$437.4bCA$74.8b4.9x8x1.4x
Fri, 04 Nov 2022CA$633.4bCA$413.4bCA$65.6b6.6x9.7x1.5x
Sun, 02 Oct 2022CA$551.6bCA$406.6bCA$65.0b5.7x8.5x1.4x
Price to Earnings Ratio

8.5x


Total Market Cap: CA$551.6bTotal Earnings: CA$65.0bTotal Revenue: CA$406.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Industry Price to Earnings3Y Average 16.6x202320242025
Current Industry PE
  • Investors are relatively neutral on the Canadian Oil and Gas industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.6x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 12% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Canadian Energy industry?

CA Market1.43%
Energy2.26%
Oil and Gas2.26%
Coal and Fuels5.03%
Oil and Gas Refining and Marketing4.62%
Oil and Gas Storage and Transportation2.94%
Oil and Gas Exploration and Production1.58%
Integrated Oil and Gas0.80%
Industry PE
  • Investors are most optimistic about the Oil and Gas Refining and Marketing industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 23.6%, which is higher than its past year's earnings decline of 43.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 24% over the next 5 years.
  • However this is lower than its past earnings growth rate of 107% per year.
  • In contrast, the Oil and Gas Exploration and Production industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ENB EnbridgeCA$69.482.8%
+CA$4.1b		25.4%PE24.3x
TRP TC EnergyCA$74.433.2%
+CA$2.4b		15.5%PE18.2x
CVE Cenovus EnergyCA$24.753.0%
+CA$1.3b		7.9%PE16.8x
CCO CamecoCA$115.442.4%
+CA$1.2b		79.9%PE94.2x
PPL Pembina PipelineCA$56.233.3%
+CA$1.0b		1.4%PE18.9x

Latest News

CNQ
CA$45.55
Canadian Natural Resources
7D
0.9%
1Y
0.2%
TAL
CA$0.61
PetroTal
7D
-4.7%
1Y
-7.6%
TRP
CA$74.43
TC Energy
7D
3.2%
1Y
15.5%
TVE
CA$6.04
Tamarack Valley Energy
7D
-1.1%
1Y
49.1%

Waterflooding In Clearwater And Charlie Lake Will Secure Operational Stability

Analysts have raised Tamarack Valley Energy’s price target to CA$7.08, citing stronger operational performance, rising oil prices, solid cost control, and improved financial flexibility, despite a slight increase in valuation multiples. Analyst Commentary Bullish analysts have increased price targets due to stronger-than-expected operational performance and improved production outlook.
EFR
CA$23.40
Energy Fuels
7D
20.8%
1Y
210.3%
ARX
CA$25.63
ARC Resources
7D
4.0%
1Y
14.1%
CCO
CA$115.44
Cameco
7D
2.4%
1Y
79.9%
ENB
CA$69.48
Enbridge
7D
2.8%
1Y
25.4%
SGQ
CA$0.39
SouthGobi Resources
7D
-18.8%
1Y
-17.0%

SouthGobi Resources Ltd. (CVE:SGQ) Surges 26% Yet Its Low P/E Is No Reason For Excitement

Sep 13
SouthGobi Resources Ltd. (CVE:SGQ) Surges 26% Yet Its Low P/E Is No Reason For Excitement
SU
CA$58.99
Suncor Energy
7D
-0.05%
1Y
16.9%
PKI
CA$37.89
Parkland
7D
-1.3%
1Y
10.1%
CVE
CA$24.75
Cenovus Energy
7D
3.0%
1Y
7.9%
PPL
CA$56.23
Pembina Pipeline
7D
3.3%
1Y
1.4%
MEG
CA$28.53
MEG Energy
7D
-0.6%
1Y
11.0%
SCR
CA$36.88
Strathcona Resources
7D
-0.3%
1Y
34.2%
RECO
CA$0.52
Reconnaissance Energy Africa
7D
-27.8%
1Y
-50.9%