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Canadian (TSX) Oil and Gas Exploration and Production Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies109
  • 7D-3.1%
  • 3M32.4%
  • 1Y59.0%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 3.1%, driven by a pullback from Canadian Natural Resources of 3.0%. In contrast, ShaMaran Petroleum has gained 16%. In the past year, the industry has gained 59%. Earnings are forecast to grow by 2.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026CA$272.7bCA$81.1bCA$15.2b12.8x18x3.4x
Mon, 09 Mar 2026CA$270.0bCA$81.9bCA$16.5b13.7x16.3x3.3x
Wed, 04 Feb 2026CA$228.6bCA$82.6bCA$14.3b12.9x16x2.8x
Fri, 02 Jan 2026CA$222.0bCA$84.3bCA$14.7b11.6x15.1x2.6x
Sun, 30 Nov 2025CA$227.0bCA$84.9bCA$14.8b11.5x15.3x2.7x
Tue, 28 Oct 2025CA$217.2bCA$88.5bCA$17.8b9.9x12.2x2.5x
Thu, 25 Sep 2025CA$220.3bCA$87.7bCA$17.8b10.3x12.4x2.5x
Sat, 23 Aug 2025CA$209.3bCA$87.8bCA$17.9b10.3x11.7x2.4x
Mon, 21 Jul 2025CA$210.5bCA$88.8bCA$16.8b10.3x12.5x2.4x
Wed, 18 Jun 2025CA$219.9bCA$88.7bCA$16.8b10.9x13.1x2.5x
Fri, 16 May 2025CA$206.3bCA$88.7bCA$16.7b8.7x12.3x2.3x
Sun, 13 Apr 2025CA$182.0bCA$89.1bCA$13.2b9.8x13.8x2x
Tue, 11 Mar 2025CA$195.6bCA$89.5bCA$13.0b10.4x15x2.2x
Thu, 06 Feb 2025CA$212.0bCA$89.8bCA$14.7b10.4x14.4x2.4x
Sat, 04 Jan 2025CA$219.8bCA$89.9bCA$14.7b10.5x14.9x2.4x
Mon, 02 Dec 2024CA$221.6bCA$89.6bCA$14.7b10.3x15.1x2.5x
Wed, 30 Oct 2024CA$217.6bCA$91.7bCA$14.5b9.9x15x2.4x
Fri, 27 Sep 2024CA$209.7bCA$91.8bCA$14.4b10x14.5x2.3x
Sun, 25 Aug 2024CA$227.0bCA$91.8bCA$14.4b10.2x15.7x2.5x
Tue, 23 Jul 2024CA$224.9bCA$89.3bCA$15.6b11.1x14.4x2.5x
Thu, 20 Jun 2024CA$222.6bCA$89.1bCA$15.6b10.9x14.3x2.5x
Sat, 18 May 2024CA$241.3bCA$90.9bCA$16.0b10.9x15.1x2.7x
Mon, 15 Apr 2024CA$250.8bCA$91.4bCA$19.7b9.3x12.7x2.7x
Wed, 13 Mar 2024CA$224.1bCA$87.0bCA$19.5b7.9x11.5x2.6x
Fri, 09 Feb 2024CA$210.5bCA$105.0bCA$24.7b6.1x8.5x2x
Sun, 07 Jan 2024CA$228.4bCA$105.7bCA$24.9b5.9x9.2x2.2x
Tue, 05 Dec 2023CA$236.8bCA$106.0bCA$25.0b5.7x9.5x2.2x
Thu, 02 Nov 2023CA$247.0bCA$110.8bCA$31.2b6x7.9x2.2x
Sat, 30 Sep 2023CA$240.8bCA$110.2bCA$31.6b5.9x7.6x2.2x
Mon, 28 Aug 2023CA$225.8bCA$110.2bCA$31.7b5.8x7.1x2x
Wed, 26 Jul 2023CA$221.4bCA$121.7bCA$38.7b4.3x5.7x1.8x
Fri, 23 Jun 2023CA$200.8bCA$123.1bCA$39.5b3.9x5.1x1.6x
Sun, 21 May 2023CA$204.6bCA$122.6bCA$39.2b3.9x5.2x1.7x
Tue, 18 Apr 2023CA$217.0bCA$126.2bCA$40.3b3.9x5.4x1.7x
Price to Earnings Ratio

5.4x


Total Market Cap: CA$217.0bTotal Earnings: CA$40.3bTotal Revenue: CA$126.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 12.2x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 18.0x which is higher than its 3-year average PE of 12.2x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 28% per year over the last three years,
  • Revenues have also declined 14% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Canadian Oil and Gas Exploration and Production compare with similar industries?

CA Market2.00%
Energy-1.50%
Oil and Gas-1.53%
Oil and Gas Exploration and Production-3.13%
Coal and Fuels1.61%
Oil and Gas Storage and Transportation-0.37%
Oil and Gas Refining and Marketing-1.59%
Integrated Oil and Gas-2.37%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
SNM ShaMaran PetroleumCA$0.2116.2%
+CA$86.4m		13.2%PE16.7x
TNZ Tenaz EnergyCA$62.354.4%
+CA$84.4m		427.0%PE6.4x
CJ Cardinal EnergyCA$11.313.3%
+CA$63.8m		116.3%PE95x
SEI Sintana EnergyCA$0.5913.5%
+CA$36.0m		22.9%PB11.7x
IPCO International PetroleumCA$36.600.9%
+CA$35.0m		104.6%PE103.1x

Latest News

CDR
CA$3.03
Condor Energies
7D
14.8%
1Y
84.8%
VET
CA$17.17
Vermilion Energy
7D
-7.6%
1Y
103.4%
ARX
CA$26.09
ARC Resources
7D
-5.7%
1Y
4.1%

ARX: Future Cash Returns Will Depend On Steady Execution And Buybacks

ARC Resources' analyst price target has shifted modestly higher to CA$30.29 from CA$29.71 as analysts factor in updated fair value assumptions alongside recent mixed target changes and ratings moves across the Street. Analyst Commentary Recent Street research around ARC Resources shows a mix of optimism and caution, which feeds into the modest upward move in the consensus price target.
CNQ
CA$64.16
Canadian Natural Resources
7D
-3.0%
1Y
70.1%
TOU
CA$61.20
Tourmaline Oil
7D
-4.9%
1Y
2.9%

TOU: Asset Sale And Cost Efficiencies Will Shape Multi Year Outlook

The fair value estimate for Tourmaline Oil has been nudged higher to CA$71.17 from CA$70.64, reflecting a series of recent analyst price target revisions that include several increases in the CA$1 to CA$5 range alongside some modest trims. Analyst Commentary Recent Street research on Tourmaline Oil shows a mix of optimism and caution, with several firms adjusting price targets in a relatively tight CA$67 to CA$74 range and one downgrade on the rating front.
CJ
CA$11.31
Cardinal Energy
7D
3.3%
1Y
116.3%
TNZ
CA$62.35
Tenaz Energy
7D
4.4%
1Y
427.0%
SCR
CA$39.07
Strathcona Resources
7D
-7.2%
1Y
59.2%
IPCO
CA$36.60
International Petroleum
7D
0.9%
1Y
104.6%
WCP
CA$14.60
Whitecap Resources
7D
-2.9%
1Y
89.6%

WCP: Cost Efficiencies And Buybacks Will Support Measured Execution-Driven Outlook

Analysts have raised the Whitecap Resources fair value estimate from CA$15.31 to CA$16.50, citing recent CA$1 to CA$2 price target increases from several firms and ongoing confidence in the company’s cost control, productivity and execution. Analyst Commentary Recent Street research on Whitecap Resources clusters around higher price targets and strong operational execution, while also flagging valuation and rating changes that readers should keep in mind.
FEC
CA$14.44
Frontera Energy
7D
3.3%
1Y
190.0%
BTE
CA$5.72
Baytex Energy
7D
-3.4%
1Y
153.1%

Heavy Oil And Duvernay Risks Will Pressure Earnings And Limit Long Term Resilience

Catalysts About Baytex Energy Baytex Energy is a Canadian oil producer focused on heavy oil and the Duvernay play, supported by a net cash balance sheet and an active shareholder return program. What are the underlying business or industry changes driving this perspective?
CEI
CA$0.91
Coelacanth Energy
7D
4.0%
1Y
13.1%
SEI
CA$0.59
Sintana Energy
7D
13.5%
1Y
22.9%
BIR
CA$6.05
Birchcliff Energy
7D
-10.0%
1Y
7.3%
SNM
CA$0.21
ShaMaran Petroleum
7D
16.2%
1Y
13.2%