The Canadian oil and gas dividend stocks on our list could provide steady, long-term returns despite oil price fluctuations
SmallCapPower | April 6, 2018: Oil prices have recovered somewhat, with WTI crude having increased 6% over the past month. The Canadian oil and gas dividend stocks on our list have high dividend yields, as well as the reserves and capital to continue operations for an extended period of time.
Granite Oil Corp. (TSX:GXO) – $2.61
Oil & Gas Exploration and Production
Granite Oil is a Canada-based oil producer operating in southern Alberta, approximately 70 kilometers south of Lethbridge. GXO’s Alberta Bakken property consists of 65 gross oil wells and 91 gross gas wells, nine of which were drilled in 2017. The Company’s assets host 20,000Mboe in reserves. Granite owns 100% of its operating wells.
- Market Cap: $89.6 Million
- 1 Month Total Return: 18.6%
- YTD Total Return: -13.9%
- Dividend Yield: 10.6%
- Simple Payout Ratio: 26.4%
Cardinal Energy Ltd. (TSX:CJ) – $4.24
Oil & Gas Exploration and Production
Cardinal Energy is a Canada-based oil and natural gas company operating in Alberta and Saskatchewan. The Company operates 2,452 producing oil wells and 192 natural gas wells across its seven operating areas, which produce a total of 18,700 boe/d. CJ’s assets host 85,000 Mbbls of crude oil and 80,000 MMcf of natural gas.
- Market Cap: $483.9 Million
- 1 Month Total Return: 3.0%
- YTD Total Return: -14.7%
- Dividend Yield: 9.9%
- Simple Payout Ratio: 19.2%
Bonterra Energy Corp. (TSX:BNE) – $13.54
Oil & Gas Exploration and Production
Bonterra Energy is a Canada-based oil and gas company operating in Alberta. The Company’s assets host 94.9 Mboe in reserves, expected to last 20 years. BNE is guided to produce ~13,500 boe/d in 2018. Bonterra also has a 22% corporate decline rate, allowing for increased free cash flow.
- Market Cap: $451.0 Million
- 1 Month Total Return: 5.8%
- YTD Total Return: -9.6%
- Dividend Yield: 8.9%
- Simple Payout Ratio: 19.6%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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