Kalkine Media lists 5 TSX oil and gas stocks to watch in November

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 Kalkine Media lists 5 TSX oil and gas stocks to watch in November
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Highlights

  • Tourmaline’s cash flow in Q3 2022 was C$ 1,051.4 million.
  • Enerplus’ Q3 2022 adjusted funds flow was US$ 355.62 million.
  • Crescent Point’s posted net income of C$ 466.4 million in Q3 2022.

Canada’s oil and gas sector is focused on making a green impact on the overall economy. In context to this, there are several policy changes made by the government which led to a shift to cleaner energy sources. They may invite healthy demand. Hence, the oil and gas sector has a crucial role to play in the market.

With the sector’s initiatives, the S&P/ TSX Capped Energy Index gained 65.157 per cent year-to-date (YTD). Though the sector is showing results, make sure to conduct proper research and then select the stocks. While analyzing the stocks and the market, cover all the aspects to have a clear view.

Additionally, consider your portfolio needs too. This will help you to have an effective stock selection. The industry is dynamic and so is your portfolio. The one that was desirable in the past, may not work in the present. Keep changing with the times and reposition your portfolio. 

Amid all this discussion, we look at five TSX oil and gas stocks for their recent performances:

  1. Tourmaline Oil Corp. (TSX: TOU)

Tourmaline Oil Corp. is engaged in the acquisition and exploration of crude oil and natural gas. The company is based in Canada and carries its major production in Western Canada Sedimentary Basin.

The total Q3 2022 revenue of Tourmaline Oil (from the commodity sales and realized gains) increased to C$ 1.74 billion from C$ 1.21 billion in Q3 2021. The cash flow grew too to C$ 1.05 billion from C$ 761.33 million for the same period. The net earnings of the company in Q3 2022 were noted at C$ 2,097.92 million. The net debt of the company dropped to C$ 564.6 million from C$ 972.97 million. The company pays a dividend of C$ 0.25 per share in every quarter with a dividend yield of 1.245 per cent. The EPS is noted at C$ 12.6.

On August 10, 2022, Tourmaline acquired Rising Star Resources Ltd.

  1. Cenovus Energy Inc. (TSX: CVE)

Cenovus Energy Inc. is engaged in the development of oil sands assets. The company has integrated products and has its presence in Alberta, Canada. Further, Cenovus has refining operations in the US and is also engaged in producing natural gas liquids and crude oil as well.  

In Q3 2022, the cash from operating activities jumped to C$ 4,089 million from C$ 2,979 million in Q3 2021. The capital investment rose to C$ 866 million from C$ 822 million for the same comparative period. The net debt decreased to C$ 5,280 million from C$ 7,535 million. The company distributes dividends every quarter at C$ 0.105 per share. The dividend yield is 1.471 per cent with an EPS of C$ 2.66.

On November 15, 2022, the stock price of Cenovus Energy was C$ 28.56.

The total market capitalization of TOU, CVE, CPG, ERF, and IMO:

  1. Crescent Point Energy Corp. (TSX: CPG)

Crescent Point Energy Corp. is into holding and acquiring natural gas and petroleum assets and properties. The company operates as a production and exploration through its wholly owned subsidiaries.

In Q3 2022, Crescent Point’s net income rose to C$ 466.4 million from C$ 77.5 million in Q3 2021. Cash flow from operating activities also increased and was noted at C$ 647 million from C$ 414.2 million for the same comparative period. The net debt of the company decreased to C$ 1,198.3 million from C$ 2,138.8 million. With an EPS of C$ 3.64, the company distributes a dividend of C$ 0.08 per share every quarter.

On November 15, 2022, the stock price of Crescent Point Energy was C$ 11.4. 

  1. Enerplus Corporation (TSX: ERF)

Enerplus Corporation is engaged in development and production of natural gas and crude oil assets. Primarily, the company has its presence in Canada and the US.

In Q3 2022, the net income of Enerplus Corporation rose to US$ 305.9 million from US$ 98.1 million in Q3 2021. The cash flow from operating activities grew to US$ 409.94 million from US$ 182.17 million for the same comparative period. The adjusted funds flow also soared to US$ 355.62 million from US$ 203.13 million. The net debt decreased to US$ 391.05 million from US$ 826.28 million. Enerplus’ assets grew to US$ 382.26 million from US$ 305.96 million in the reported quarter.

Enerplus Corporation reported its three-year dividend growth at 8.54 per cent with a quarterly dividend of C$ 0.075 per share. The EPS is C$ 4.21. The dividend yield of the company is noted at 1.178 per cent.

  1. Imperial Oil Limited (TSX: IMO)

Imperial Oil Limited is an oil company based in Canada that focuses on refining and upstream operations of petroleum along with its marketing.

In Q3 2022, Imperial Oil’s net income was reported at C$ 2,031 million compared to C$ 908 million in the year-ago quarter. The cash flow from operating activities soared to C$ 3.08 billion from C$ 1.94 billion. The cash and cash equivalents reported for the company were C$ 3,576 million from C$ 1,875 million. Imperial Oil distributes dividend of C$ 0.44 per share and noted a dividend yield of 2.318 per cent.

On November 15, 2022, Imperial Oil’s stock price was C$ 75.92.

Bottom Line

Finding the right stock as per your suitability is the need of the hour. Assess your expectations and investment goals. It will help you to align with your long-term investment goals. Along with financials, look for the risk factors as well.

Top it up by adding diversification. With different stocks, the risk is being spread out and works for the investor. Nobody likes risk. Hence, mitigate the risk involved and safeguard your portfolio.

Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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