Suncor (TSX:SU) & TC Energy (TSX:TRP): 2 oil & gas stocks to buy now - Kalkine Media

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 Suncor (TSX:SU) & TC Energy (TSX:TRP): 2 oil & gas stocks to buy now
Image source: ©2022 Kalkine Media®   

Highlights

  • Stocks of Suncor Energy (TSX: SU) and TC Energy (TSX: TRP) have been trending in the Canadian stock market amid some positive sentiments among investors.
  • The S&P/TSX Capped Energy Index shot up by over eight per cent in 2022 despite the omicron threat.
  • The Canadian energy sector had been one of the most vibrant sectors in 2021 as well, primarily due to soaring crude oil and gas prices. 

Stocks of Suncor Energy (TSX: SU) and TC Energy (TSX: TRP) have been trending in the Canadian stock market amid some positive sentiments among investors.

The S&P/TSX Capped Energy Index shot up by over eight per cent in 2022 despite the omicron threat. Some market experts believe that oil and gas prices can continue this uptrend.

The Canadian energy sector had been one of the most vibrant sectors in 2021 as well, primarily due to soaring crude oil and gas prices. 

In that queue, let us discuss the two TSX-listed energy stocks of Suncor and TC Energy.

Suncor Energy Inc (TSX: SU)

Suncor outperformed the TSX benchmark index by returning roughly 44 per cent in the last one year.

Stocks of Suncor Energy closed at C$ 33.71 apiece on Monday, January 10, which was about three per cent below its 52-week high of C$ 34.66 clocked on January 6.

The energy company recorded net earnings of C$ 877 million in Q3 FY2021, as against loss of C$ 12 million a year ago.

In December 2021, the Calgary-based energy producer announced that it is looking to increase its share buybacks and double its dividend for the fiscal year of 2022. 

The oil company also declared an expected upstream production in the range of about 7.5 to 7.9 million barrels of oil equivalent daily (boe/d), which is five per cent higher than its 2021 guidance.

The C$ 49-billion market cap company set out its capital program of C$ 4.7 million for 2022.

Also read: How can Canadians invest in international stocks? 

TC Energy Corporation (TSX: TRP)

TC Energy Corporation also outperformed the TSX benchmark index by gaining nearly 16 per cent in the last one year.

On December 1 last year, the energy infrastructure company said that it has recorded C$ 29 billion secured capital programs.

The midstream energy firm posted a net income of C$ 779 million in Q3 FY2021.

Scrips of TC Energy Corporation closed at C$ 62.39 apiece on January 10.

2 trending Canadian energy stocks

 Image source: ©2022 Kalkine Media®   

Also read: 5 best TSX value stocks to buy in 2022 

Bottom line

Rising oil prices can make energy companies a healthy investment option to explore. However, investors should ideally track a firm’s operational and financial growth along with its stock performance before investing. It is also commonly considered essential to assess a company’s risk and return capacity before parking your funds in its stocks.

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