Oil and gas dominate a new list of the TSX's 30 best performing stocks by Meghan Potkins
Appeared in The Financial Post on September 15, 2022
Gina's Thoughts
The headline says it all. Fifty percent of the companies (14 producers and one oil field services company) on the newly released TSX30 are in the oil and gas sector. Rising demand and commodity prices and concerns with energy security have driven up share prices in the oil and gas sector. A recent equity research report said Canadian oil-weighted stocks have generated a median return of 40 per cent year-to-date. By comparison, the return of the S&P 500 and S&P/TSX Composite indexes has been -10 per cent and -4 per cent, respectively. Can public sector investment funds like university endowments and pension plans and their divestment decision makers continue to ignore the significant value in the energy space? Investing in the Canadian oil and gas sector means supply that comes from ethical producers, innovation, emissions reductions, and lately, some of the strongest returns on the TSX.