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

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies106
  • 7D-3.3%
  • 3M13.7%
  • 1Y47.0%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 3.3%, driven by Canadian Natural Resources declining 1.9%. Meanwhile, ShaMaran Petroleum actually outperformed within the industry, gaining 7.9% in the last week. In the past year, the industry has gained 47%. Looking forward, earnings are forecast to grow by 10% 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
Wed, 27 May 2026CA$299.7bCA$82.4bCA$12.4b21.2x24.2x3.6x
Fri, 24 Apr 2026CA$271.0bCA$81.0bCA$15.2b13.5x17.8x3.3x
Sun, 22 Mar 2026CA$291.6bCA$81.1bCA$15.2b14.9x19.1x3.6x
Tue, 17 Feb 2026CA$244.4bCA$82.8bCA$14.2b13.1x17.3x3x
Thu, 15 Jan 2026CA$218.4bCA$84.3bCA$14.7b12x14.8x2.6x
Sat, 13 Dec 2025CA$224.7bCA$85.3bCA$14.9b11.8x15.1x2.6x
Mon, 10 Nov 2025CA$220.0bCA$88.8bCA$14.8b12x14.8x2.5x
Wed, 08 Oct 2025CA$222.8bCA$87.8bCA$17.8b10.3x12.5x2.5x
Fri, 05 Sep 2025CA$212.0bCA$87.7bCA$17.8b9.8x11.9x2.4x
Sun, 03 Aug 2025CA$210.2bCA$88.1bCA$17.4b10.5x12.1x2.4x
Tue, 01 Jul 2025CA$211.9bCA$88.7bCA$16.8b10.6x12.6x2.4x
Thu, 29 May 2025CA$207.1bCA$88.8bCA$16.9b8.9x12.3x2.3x
Sat, 26 Apr 2025CA$194.1bCA$89.2bCA$13.3b9.1x14.5x2.2x
Mon, 24 Mar 2025CA$210.6bCA$89.7bCA$12.8b12.4x16.5x2.3x
Wed, 19 Feb 2025CA$209.2bCA$89.6bCA$14.5b9.8x14.4x2.3x
Fri, 17 Jan 2025CA$220.6bCA$89.8bCA$14.7b11.1x15x2.5x
Sun, 15 Dec 2024CA$211.6bCA$89.8bCA$14.7b10.1x14.4x2.4x
Tue, 12 Nov 2024CA$216.7bCA$89.5bCA$15.0b9.7x14.4x2.4x
Thu, 10 Oct 2024CA$224.2bCA$91.6bCA$14.4b10.2x15.6x2.4x
Sat, 07 Sep 2024CA$207.8bCA$91.9bCA$14.4b10.6x14.4x2.3x
Mon, 05 Aug 2024CA$212.7bCA$91.6bCA$15.3b10.2x13.9x2.3x
Wed, 03 Jul 2024CA$226.9bCA$89.1bCA$15.5b11.8x14.6x2.5x
Fri, 31 May 2024CA$245.1bCA$91.1bCA$16.1b12x15.2x2.7x
Sun, 28 Apr 2024CA$250.3bCA$91.4bCA$19.6b9.2x12.8x2.7x
Tue, 26 Mar 2024CA$232.1bCA$86.9bCA$19.1b8.5x12.1x2.7x
Thu, 22 Feb 2024CA$222.1bCA$104.3bCA$24.5b6.2x9.1x2.1x
Sat, 20 Jan 2024CA$216.3bCA$105.8bCA$24.9b5.6x8.7x2x
Mon, 18 Dec 2023CA$217.5bCA$105.7bCA$24.9b5.6x8.7x2.1x
Wed, 15 Nov 2023CA$239.6bCA$106.6bCA$25.3b6.5x9.5x2.2x
Fri, 13 Oct 2023CA$243.4bCA$110.5bCA$31.7b5.5x7.7x2.2x
Sun, 10 Sep 2023CA$239.5bCA$110.4bCA$31.7b5.6x7.6x2.2x
Tue, 08 Aug 2023CA$229.9bCA$110.9bCA$32.1b5.3x7.2x2.1x
Thu, 06 Jul 2023CA$205.0bCA$122.0bCA$38.8b4.2x5.3x1.7x
Sat, 03 Jun 2023CA$203.5bCA$122.3bCA$38.9b4.1x5.2x1.7x
Price to Earnings Ratio

5.2x


Total Market Cap: CA$203.5bTotal Earnings: CA$38.9bTotal Revenue: CA$122.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 12.8x202420252026
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 24.2x which is higher than its 3-year average PE of 12.8x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 32% per year over the last three years,
  • Revenues have also declined 12% 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 Market2.45%
Energy-1.21%
Oil and Gas-1.20%
Oil and Gas Exploration and Production-3.35%
Oil and Gas Storage and Transportation3.48%
Coal and Fuels-0.62%
Oil and Gas Refining and Marketing-3.05%
Integrated Oil and Gas-4.47%
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$0.208.1%
+CA$43.2m		2.6%PE9.3x
RECO Reconnaissance Energy AfricaCA$1.075.4%
+CA$22.5m		67.2%PB1.7x
WIL Wilton ResourcesCA$0.5279.3%
+CA$18.8m		-31.6%PS4586.9x
TAL PetroTalCA$0.593.5%
+CA$18.4m		-3.3%PE13.7x
WGT Westgate EnergyCA$0.3827.1%
+CA$6.3m		188.5%PS5.3x

Latest News

CNQ
CA$64.74
Canadian Natural Resources
7D
-4.7%
1Y
50.4%
SNM
CA$0.20
ShaMaran Petroleum
7D
8.1%
1Y
2.6%
PEY
CA$25.54
Peyto Exploration & Development
7D
-6.6%
1Y
35.3%
AXL
CA$0.45
Arrow Exploration
7D
2.3%
1Y
45.2%
BTE
CA$6.78
Baytex Energy
7D
-7.4%
1Y
197.4%
TVE
CA$12.50
Tamarack Valley Energy
7D
-6.9%
1Y
179.6%
Narrative Update • May 23

TVE: Clearwater Execution And Share Buybacks Will Drive Future Upside

The analyst fair value estimate for Tamarack Valley Energy has increased from CA$11.00 to CA$16.00, with analysts citing higher modeled revenue growth, updated P/E assumptions, and recent Street research that highlights the Clearwater asset base as offering very attractive full cycle economics. Analyst Commentary Recent Street research on Tamarack Valley Energy has been broadly constructive, with several bullish analysts adjusting fair value estimates higher and highlighting specific assets as key value drivers.
SCR
CA$45.03
Strathcona Resources
7D
-12.3%
1Y
50.1%
Narrative Update • May 21

SCR: Higher Fair Value And Buyback Plan Will Shape Heavy Oil Outlook

The updated fair value estimate for Strathcona Resources increases from CA$30.78 to CA$50.40. This reflects analysts' higher CA$54 and other revised price targets, along with updated views on revenue growth, margins and a lower future P/E multiple.
WCP
CA$16.28
Whitecap Resources
7D
-5.2%
1Y
82.9%
WGT
CA$0.38
Westgate Energy
7D
27.1%
1Y
188.5%
CDR
CA$3.00
Condor Energies
7D
2.0%
1Y
72.4%
TOU
CA$64.74
Tourmaline Oil
7D
-5.8%
1Y
1.3%
ATH
CA$11.48
Athabasca Oil
7D
-9.5%
1Y
116.2%
TAL
CA$0.59
PetroTal
7D
3.5%
1Y
-3.3%
Narrative Update • May 13

PetroTal's Stock is Set to Double by 2028 with Oil Prices at $95 base

PetroTal is still a high-beta, underfollowed name in the small-cap E&P space. But if we assume a structural reset in global oil pricing—specifically a new $95 Brent baseline driven by a prolonged or recurring disruption in the Strait of Hormuz—the company’s path to a $2 share price by 2030 becomes not just plausible, but grounded in fundamentals.
WIL
CA$0.52
Wilton Resources
7D
79.3%
1Y
-31.6%
CEQ
CA$0.13
Criterium Energy
7D
23.8%
1Y
85.7%
RECO
CA$1.07
Reconnaissance Energy Africa
7D
5.4%
1Y
67.2%