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

UpdatedNov 15, 2025
DataAggregated Company Financials
Companies115
  • 7D2.5%
  • 3M12.4%
  • 1Y3.6%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has risen 4.8%, driven by gains from Canadian Natural Resources of 4.6%. This means that the industry has gained 5.5% over the past year. Looking forward, earnings are forecast to grow by 7.7% 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, 18 Nov 2025CA$217.4bCA$84.9bCA$14.3b11.3x15.2x2.6x
Thu, 16 Oct 2025CA$215.2bCA$87.8bCA$17.8b9.8x12.1x2.5x
Sat, 13 Sep 2025CA$212.4bCA$87.7bCA$17.8b9.4x11.9x2.4x
Mon, 11 Aug 2025CA$207.5bCA$87.2bCA$18.5b10.4x11.2x2.4x
Wed, 09 Jul 2025CA$209.8bCA$88.8bCA$16.8b10.1x12.5x2.4x
Fri, 06 Jun 2025CA$205.0bCA$88.7bCA$16.8b10.9x12.2x2.3x
Sun, 04 May 2025CA$190.1bCA$89.6bCA$13.5b8.9x14.1x2.1x
Tue, 01 Apr 2025CA$212.0bCA$89.4bCA$13.2b12.8x16x2.4x
Thu, 27 Feb 2025CA$202.2bCA$89.8bCA$14.0b10.2x14.5x2.3x
Sat, 25 Jan 2025CA$219.4bCA$89.8bCA$14.7b10.6x14.9x2.4x
Mon, 23 Dec 2024CA$202.6bCA$89.8bCA$14.7b9.5x13.8x2.3x
Wed, 20 Nov 2024CA$218.4bCA$89.6bCA$15.2b10x14.3x2.4x
Fri, 18 Oct 2024CA$216.9bCA$91.7bCA$14.4b10.1x15.1x2.4x
Sun, 15 Sep 2024CA$204.6bCA$91.9bCA$14.4b10.4x14.2x2.2x
Tue, 13 Aug 2024CA$217.4bCA$91.6bCA$14.7b10x14.8x2.4x
Thu, 11 Jul 2024CA$223.7bCA$89.0bCA$15.5b11.1x14.4x2.5x
Sat, 08 Jun 2024CA$231.1bCA$89.1bCA$15.6b11.2x14.8x2.6x
Mon, 06 May 2024CA$239.4bCA$90.9bCA$18.2b8.8x13.2x2.6x
Wed, 03 Apr 2024CA$241.9bCA$91.3bCA$19.7b8.9x12.3x2.6x
Fri, 01 Mar 2024CA$220.9bCA$89.3bCA$19.7b7x11.2x2.5x
Sun, 28 Jan 2024CA$223.4bCA$105.8bCA$24.9b5.9x9x2.1x
Tue, 26 Dec 2023CA$224.0bCA$105.5bCA$24.8b5.6x9x2.1x
Thu, 23 Nov 2023CA$239.5bCA$106.4bCA$25.0b6.3x9.6x2.3x
Sat, 21 Oct 2023CA$249.9bCA$110.5bCA$31.7b6x7.9x2.3x
Mon, 18 Sep 2023CA$240.8bCA$110.2bCA$31.6b6x7.6x2.2x
Wed, 16 Aug 2023CA$225.9bCA$110.6bCA$31.6b5.5x7.1x2x
Fri, 14 Jul 2023CA$215.3bCA$121.7bCA$38.7b4.2x5.6x1.8x
Sun, 11 Jun 2023CA$203.9bCA$122.1bCA$38.9b4x5.2x1.7x
Tue, 09 May 2023CA$203.6bCA$124.0bCA$38.7b3.9x5.3x1.6x
Thu, 06 Apr 2023CA$210.7bCA$126.3bCA$40.4b3.8x5.2x1.7x
Sat, 04 Mar 2023CA$219.9bCA$124.8bCA$41.0b4x5.4x1.8x
Mon, 30 Jan 2023CA$225.8bCA$123.3bCA$43.0b4.2x5.3x1.8x
Wed, 28 Dec 2022CA$220.8bCA$123.9bCA$43.1b4x5.1x1.8x
Fri, 25 Nov 2022CA$233.5bCA$123.3bCA$42.7b4.6x5.5x1.9x
Price to Earnings Ratio

5.5x


Total Market Cap: CA$233.5bTotal Earnings: CA$42.7bTotal Revenue: CA$123.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 10.7x202320242025
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 15.2x which is higher than its 3-year average PE of 10.7x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 31% 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 Market-0.32%
Energy0.63%
Oil and Gas0.67%
Oil and Gas Exploration and Production2.50%
Integrated Oil and Gas2.76%
Oil and Gas Storage and Transportation1.29%
Oil and Gas Refining and Marketing0.93%
Coal and Fuels-11.16%
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$46.874.6%
+CA$4.3b		-0.6%PE14.7x
BTE Baytex EnergyCA$4.2517.4%
+CA$484.0m		1.2%PE15.2x
WCP Whitecap ResourcesCA$11.123.2%
+CA$413.8m		7.2%PE14.8x
SCR Strathcona ResourcesCA$41.472.4%
+CA$207.8m		28.0%PE14.8x
IPCO International PetroleumCA$26.684.3%
+CA$123.4m		82.4%PE62.1x

Latest News

TVE
CA$7.02
Tamarack Valley Energy
7D
2.9%
1Y
57.8%

Tamarack Valley Energy (TSE:TVE) Has Announced That It Will Be Increasing Its Dividend To CA$0.0133

Nov 18
Tamarack Valley Energy (TSE:TVE) Has Announced That It Will Be Increasing Its Dividend To CA$0.0133
TXP
CA$0.12
Touchstone Exploration
7D
-45.5%
1Y
-77.8%
TOU
CA$60.06
Tourmaline Oil
7D
-1.3%
1Y
-4.7%

Tourmaline Oil's (TSE:TOU) Sluggish Earnings Might Be Just The Beginning Of Its Problems

Nov 17
Tourmaline Oil's (TSE:TOU) Sluggish Earnings Might Be Just The Beginning Of Its Problems
TAL
CA$0.41
PetroTal
7D
-38.8%
1Y
-35.9%
MEG
CA$30.67
MEG Energy
7D
3.2%
1Y
17.1%

MEG: Approval of Acquisition Will Shape Profit Outlook Amid Shareholder Delays

MEG Energy's analyst price target has been raised slightly from C$29.90 to C$30.00. Analysts point to improved revenue growth and profit margin expectations following approval of its acquisition by Cenovus Energy.
WCP
CA$11.12
Whitecap Resources
7D
3.2%
1Y
7.2%

WCP: Ongoing Capital Efficiency Improvements Will Drive Upward Momentum

Analysts have modestly increased their average price target for Whitecap Resources, with several citing stronger than expected capital efficiency and ongoing inclusion in top stock lists as supporting factors. Analyst Commentary Recent analyst reports on Whitecap Resources reflect a blend of optimism on operational efficiency and valuation, with some caution around near-term forecast adjustments.
BTE
CA$4.25
Baytex Energy
7D
17.4%
1Y
1.2%

BTE: Focus on Canadian Core Assets Will Strengthen Balance Sheet and Capital Returns

Analysts have raised their price target for Baytex Energy from C$3.95 to approximately C$4.67. They cite the company's divestiture of its U.S. Eagle Ford assets and a sharpened focus on its Canadian heavy oil and Duvernay operations, which are expected to strengthen its balance sheet and support shareholder returns.
SCR
CA$41.47
Strathcona Resources
7D
2.4%
1Y
28.0%
KEL
CA$7.25
Kelt Exploration
7D
-6.1%
1Y
7.2%
NVA
CA$17.89
NuVista Energy
7D
-1.0%
1Y
36.0%
TNZ
CA$25.34
Tenaz Energy
7D
-4.0%
1Y
73.6%
IPCO
CA$26.68
International Petroleum
7D
4.3%
1Y
82.4%
TPZ
CA$26.69
Topaz Energy
7D
2.9%
1Y
-6.2%
CNQ
CA$46.87
Canadian Natural Resources
7D
4.6%
1Y
-0.6%

CNQ: Dividend Momentum Will Drive Shareholder Returns As Production Grows

Analysts have modestly raised their price target for Canadian Natural Resources, increasing it from $52.68 to $52.83. They cite ongoing strength in dividend growth and resilient energy equities despite softer demand indicators.
ATH
CA$7.46
Athabasca Oil
7D
3.6%
1Y
45.7%
AAV
CA$11.94
Advantage Energy
7D
-1.5%
1Y
39.2%