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

UpdatedAug 25, 2026
DataAggregated Company Financials
Companies102
  • 7D2.3%
  • 3M5.3%
  • 1Y51.9%
  • YTDn/a

The Oil and Gas Exploration and Production industry is up 2.3% in the last week, with Canadian Natural Resources up 2.8%. In the last 12 months, the industry was up 52%. Looking forward, earnings are forecast to grow by 7.5% 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
Tue, 25 Aug 2026CA$304.9bCA$93.0bCA$16.8b18.1x18.1x3.3x
Thu, 23 Jul 2026CA$281.4bCA$82.3bCA$12.4b23.8x22.8x3.4x
Sat, 20 Jun 2026CA$263.5bCA$82.2bCA$12.3b21x21.4x3.2x
Mon, 18 May 2026CA$298.9bCA$82.0bCA$12.4b22.8x24.1x3.6x
Wed, 15 Apr 2026CA$280.1bCA$81.1bCA$15.2b12.8x18.5x3.5x
Fri, 13 Mar 2026CA$276.8bCA$81.3bCA$16.5b13.4x16.8x3.4x
Sun, 08 Feb 2026CA$238.8bCA$82.9bCA$14.2b13.2x16.8x2.9x
Tue, 06 Jan 2026CA$214.0bCA$84.3bCA$14.7b11.4x14.5x2.5x
Thu, 04 Dec 2025CA$227.2bCA$84.9bCA$14.8b11.8x15.3x2.7x
Sat, 01 Nov 2025CA$218.7bCA$88.4bCA$17.6b10.2x12.4x2.5x
Mon, 29 Sep 2025CA$224.6bCA$87.7bCA$17.8b10.3x12.6x2.6x
Wed, 27 Aug 2025CA$212.1bCA$87.8bCA$17.9b9.8x11.8x2.4x
Fri, 25 Jul 2025CA$211.2bCA$89.3bCA$16.9b10.9x12.5x2.4x
Sun, 22 Jun 2025CA$223.8bCA$88.8bCA$16.8b11.5x13.3x2.5x
Tue, 20 May 2025CA$205.4bCA$88.9bCA$16.9b9.3x12.2x2.3x
Thu, 17 Apr 2025CA$184.9bCA$89.1bCA$13.2b10.3x14x2.1x
Sat, 15 Mar 2025CA$199.1bCA$89.5bCA$12.9b11.4x15.4x2.2x
Mon, 10 Feb 2025CA$209.7bCA$90.0bCA$14.6b10.2x14.4x2.3x
Wed, 08 Jan 2025CA$223.5bCA$89.8bCA$14.7b10.7x15.2x2.5x
Fri, 06 Dec 2024CA$216.5bCA$89.7bCA$14.7b10.1x14.7x2.4x
Sun, 03 Nov 2024CA$213.6bCA$90.8bCA$14.8b9.8x14.4x2.4x
Tue, 01 Oct 2024CA$207.5bCA$91.9bCA$14.4b10.3x14.4x2.3x
Thu, 29 Aug 2024CA$227.2bCA$91.8bCA$14.4b9.9x15.7x2.5x
Sat, 27 Jul 2024CA$221.6bCA$89.8bCA$15.6b10.9x14.2x2.5x
Mon, 24 Jun 2024CA$220.5bCA$89.1bCA$15.6b10.9x14.2x2.5x
Wed, 22 May 2024CA$245.7bCA$90.8bCA$16.1b10.7x15.3x2.7x
Fri, 19 Apr 2024CA$244.5bCA$91.4bCA$19.8b8.9x12.4x2.7x
Sun, 17 Mar 2024CA$228.6bCA$86.8bCA$19.4b8.2x11.8x2.6x
Tue, 13 Feb 2024CA$214.8bCA$104.2bCA$24.4b6.1x8.8x2.1x
Thu, 11 Jan 2024CA$223.9bCA$105.7bCA$24.9b5.8x9x2.1x
Sat, 09 Dec 2023CA$219.0bCA$106.1bCA$25.0b5.7x8.8x2.1x
Mon, 06 Nov 2023CA$251.6bCA$108.9bCA$27.0b6.3x9.3x2.3x
Wed, 04 Oct 2023CA$232.2bCA$110.4bCA$31.7b5.7x7.3x2.1x
Fri, 01 Sep 2023CA$234.9bCA$110.0bCA$31.7b5.6x7.4x2.1x
Price to Earnings Ratio

7.4x


Total Market Cap: CA$234.9bTotal Earnings: CA$31.7bTotal Revenue: CA$110.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 14.1x202420252026
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 18.1x which is higher than its 3-year average PE of 14.1x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 19% per year over the last three years,
  • Revenues have also declined 5.4% 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 Market-0.021%
Energy0.74%
Oil and Gas0.84%
Oil and Gas Exploration and Production2.29%
Coal and Fuels3.59%
Integrated Oil and Gas0.75%
Oil and Gas Refining and Marketing-0.89%
Oil and Gas Storage and Transportation-1.11%
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
CNQ Canadian Natural ResourcesCA$70.272.8%
+CA$3.9b		63.3%PE12.3x
TOU Tourmaline OilCA$62.163.4%
+CA$804.4m		7.9%PE64x
WCP Whitecap ResourcesCA$18.032.9%
+CA$607.9m		77.1%PE15.4x
PSK PrairieSky RoyaltyCA$36.262.6%
+CA$216.2m		52.1%PE34.9x
ARX ARC ResourcesCA$33.811.1%
+CA$215.3m		27.4%PE13.6x

Latest News

ALV
CA$9.75
Alvopetro Energy
7D
-4.6%
1Y
69.9%
New Narrative • Aug 24

Alvopetro Energy - Good Dividend but limited upside potential at price around $10

BASE — production ramps as guided, gas price normalizes off the contracted peak. The is the future estimate in 3 years.
CNQ
CA$70.27
Canadian Natural Resources
7D
2.8%
1Y
63.3%
ARX
CA$33.81
ARC Resources
7D
1.1%
1Y
27.4%
WCP
CA$18.03
Whitecap Resources
7D
2.9%
1Y
77.1%
Narrative Update • Aug 20

WCP: Higher 2026 Production And Buybacks Will Support Balanced Upside Potential

Analysts raised their price target on Whitecap Resources to CA$20.00 from CA$18.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News for Whitecap Resources Whitecap Resources reported second quarter 2026 production results, with crude oil and condensate volumes of 200,725 bbls/d, NGLs of 38,358 bbls/d, natural gas of 898,864 Mcf/d and total average daily production of 388,894 boe/d for the quarter.
LGN
CA$1.09
Logan Energy
7D
-4.4%
1Y
41.6%
RECO
CA$0.69
Reconnaissance Energy Africa
7D
-9.2%
1Y
42.3%
TOU
CA$62.16
Tourmaline Oil
7D
3.4%
1Y
7.9%
MER
CA$2.21
Meren Energy
7D
-2.2%
1Y
22.8%
GASX
CA$1.42
NG Energy International
7D
-3.4%
1Y
40.6%
TPZ
CA$32.28
Topaz Energy
7D
4.1%
1Y
28.6%
KEL
CA$10.50
Kelt Exploration
7D
8.2%
1Y
52.4%
FEC
CA$8.31
Frontera Energy
7D
-2.5%
1Y
37.6%
SCR
CA$43.44
Strathcona Resources
7D
-1.2%
1Y
16.1%
BTE
CA$6.54
Baytex Energy
7D
3.5%
1Y
120.2%
Narrative Update • Aug 05

BTE: Raised Production Guidance And Strong Margins Will Support Future Upside Potential

Baytex Energy's fair value estimate has been lifted from CA$6.00 to CA$7.00, reflecting analysts' higher price targets in the CA$7.00 to CA$7.50 range, supported by updated expectations for revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent research updates on Baytex Energy highlight a cluster of higher price targets in the CA$7.00 to CA$7.50 range, while ratings remain generally neutral or on hold.
ATH
CA$10.78
Athabasca Oil
7D
-1.3%
1Y
75.9%
PSK
CA$36.26
PrairieSky Royalty
7D
2.6%
1Y
52.1%