Canadian Oil Stocks with the Best Price, Volume Momentum

The four Canadian oil stocks on our list have benefitted most from a rising oil price

SmallCapPower | November 8, 2017: OPEC and non-OPEC production cuts have contributed to a rally in oil prices over the past month, as WTI crude is currently trading at US$57, up 15% month over month. Today, we have identified four Canadian oil stocks with strongest three-month returns, along with an uptick in volumes, amid the upward trend in oil prices.

Pengrowth Energy Corp. (TSX:PGF) – $1.50
Oil, Gas & Consumable Fuels

Pengrowth Energy is an intermediate oil & gas producer based in Calgary, Alberta. With operations across Western Canada, Pengrowth produces light oil, heavy oil, and natural gas. Over the past year, the Company has undergone significant restructuring, as it plans to reduce debt via asset sales. Moving forward, the Company plans to focus on long-term development at its Lindbergh (thermal oil) and Montney gas properties. The Lindberg project has significant potential for growth as the Company has plans to ramp up production from the existing 15,000 bbl/d to 42,500 bbl/d by 2020.

  • Market Cap: $828 Million
  • 3 Month Total Return: 70.5%
  • Average Daily Volume – 3 Months: 1,531,500
  • Average Daily Volume – 12 months:  912,000

BNK Petroleum Inc. (TSX:BKX) – $0.42
Oil, Gas & Consumable Fuels

Headquartered in California, BNK Petroleum is an oil & gas producer with properties concentrated in the Ardmore basin of Oklahoma. The Company leverages its technical and operational expertise to identify and acquire unconventional oil projects. Currently, BNK continues additional exploration at its Tishomingo Field property in the Ardmore Basin, Oklahoma.

  • Market Cap: $97 Million
  • 3 Month Total Return: 55.6%
  • Average Daily Volume – 3 Months: 330,800
  • Average Daily Volume – 12 months: 188,900

Petroteq Energy Inc. (TSXV:PQE) – $1.13
Oil, Gas & Consumable Fuels

Petroteq Energy is a Canada-based company engaged in the production of crude oil in North America. Petroteq has developed a patented clean oil recovery technology for production at oil sands and oil shale deposits. The Company has mineral leases for property in Texas where it continues exploration activities, along with the Asphalt Ridge heavy oil extraction facility in Vernal, Utah.

  • Market Cap: $61 Million
  • 3 Month Total Return: 182.5%
  • Average Daily Volume – 3 Months: 21,200
  • Average Daily Volume – 12 months: 16,400

Tamarack Valley Energy Ltd. (TSX:TVE) – $3.14
Oil, Gas & Consumable Fuels

Tamarack Valley Energy is an oil and gas company focused on acquiring and operating oil and gas properties in the Western Canadian Sedimentary Basin. The Company’s producing properties are Cardium Oil, which produces at a capacity of ~9,000 barrels of oil per day (BOE/D) at 54% liquids and Viking Oil, which produces at 7,300 BOE/D at 67% liquids.

  • Market Cap: $715 Million
  • 3 Month Total Return: 44.7%
  • Average Daily Volume – 3 Months: 554,500
  • Average Daily Volume – 12 months: 456,600

Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own units in any of the companies mentioned above.

To read our full disclosure, please click on the button below: