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Highlights
- The Canadian energy sector started the year 2022 positively despite rising Omicron cases and uncertain market conditions.
- The good thing about the energy space is that anyone with even C$ 10 in their pocket can invest in quality energy stocks and earn a profit in the future.
- An energy stock listed below rocketed nearly 344 per cent in the last year.
The S&P/TSX Capped Energy Index gained roughly four per cent on Tuesday, January 4.
The Canadian energy sector started the year 2022 positively despite rising Omicron cases and uncertain market conditions. The good thing about energy space is that one with even C$ 10 in their pocket can invest in quality energy stocks and earn a significant profit in the future.
With that in mind, let us look at the five TSX-listed energy stocks presently priced under C$ 10.
1. Crescent Point Energy Corp (TSX:CPG)
Crescent Point Energy Corp strengthened its balance sheet by generating an excess cash flow of over C$ 180 million in the third quarter of fiscal 2021. Its third-quarter net income was C$ 77.5 million in FY2021.
The firm will also dole out a quarterly dividend of C$ 0.045 apiece, scheduled for April 1, up from the previous pay-out of C$ 0.003 paid on October 1, 2021.
The independent energy company, which posted a return on equity (ROE) of 54.04 per cent, saw its stock close at C$ 7.20 apiece on January 4. Stocks of Crescent Point Energy surged by almost 138 per cent in the past year.
Also read: 5 Canadian penny stocks under 50 cents worth exploring in 2022
2. Whitecap Resources Inc (TSX:WCP)
Whitecap Resources Inc reported a net income of C$ 1.5 million in Q3 FY2021 compared to C$ 12.83 million in Q3 2020.
Whitecap Resources, which recorded an ROE of 86.65 per cent, is scheduled to pay a monthly dividend of C$ 0.022 per share on January 17.
Stocks of this energy company mounted by over 60 per cent in the last year and closed at C$ 7.72 apiece on January 4.
3. Bonterra Energy Corp (TSX:BNE)
Bonterra Energy Corp posted an average production of 12,542 barrels of oil equivalent daily in the third quarter of fiscal 2021, up by 25 per cent year-over-year (YoY).
Its funds flow was C$ 28.65 million in the latest quarter against C$ 6.26 million a year ago.
Bonterra Energy Corp saw its scrip close at C$ 6.07 apiece on January 4 and swelled by about 181 per cent in the past year.
Also read: 9 solid Canadian stocks with sound financials to buy in 2022
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4. Advantage Energy Ltd (TSX:AAV)
Advantage Energy Ltd reported total production of 50,025 barrels of oil equivalent in Q3 FY2021. Its adjusted funds flow was C$ 63.4 million in the latest quarter.
With a market capitalization of C$ 1.4 billion, Advantage Energy saw its stock close at C$ 7.54 apiece on January 4. This energy stock rocketed by nearly 344 per cent in the last year.
5. Birchcliff Energy Ltd (TSX:BIR)
An intermediate oil and gas firm, Birchcliff Energy Ltd improved its average quarterly production by eight per cent YoY to 84,924 barrels of oil equivalent per day in Q3 2021.
Birchcliff earned a net income of C$ 138.4 million in the latest quarter, up from a loss of C$ 17.7 million incurred a year ago.
This oil and gas stock zoomed by over 256 per cent in the past year. The BIR stock closed at C$ 6.45 apiece on January 4.
Bottom line
Energy stocks could see a surge in their prices with rising crude oil and gas prices. However, investors should ideally evaluate a company’s operational and financial health to avoid probable losses, picking companies that can withstand challenging market situations.
Also read: 5 best Canadian growth stocks to bag in 2022
