Canada markets closed
  • S&P/TSX

    21,125.90
    -487.30 (-2.25%)
     
  • S&P 500

    4,594.62
    -106.84 (-2.27%)
     
  • DOW

    34,899.34
    -905.06 (-2.53%)
     
  • CAD/USD

    0.7825
    -0.0080 (-1.01%)
     
  • CRUDE OIL

    68.15
    -10.24 (-13.06%)
     
  • BTC-CAD

    69,072.00
    -1,386.15 (-1.97%)
     
  • CMC Crypto 200

    1,365.60
    -89.81 (-6.17%)
     
  • GOLD FUTURES

    1,788.10
    +1.20 (+0.07%)
     
  • RUSSELL 2000

    2,245.94
    -85.52 (-3.67%)
     
  • 10-Yr Bond

    1.4820
    -0.1630 (-9.91%)
     
  • NASDAQ

    15,491.66
    -353.54 (-2.23%)
     
  • VOLATILITY

    28.62
    +10.04 (+54.04%)
     
  • FTSE

    7,044.03
    -266.34 (-3.64%)
     
  • NIKKEI 225

    28,751.62
    -747.66 (-2.53%)
     
  • CAD/EUR

    0.6916
    -0.0132 (-1.87%)
     

2 Top Canadian Energy Stocks With Momentum to Buy Right Now

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Gas pipelines
Gas pipelines

Written by Chris MacDonald at The Motley Fool Canada

Finding top energy stocks to invest in can be quite the task. Indeed, given how commodities prices have risen of late, this sector is red hot. Accordingly, those looking for dirt-cheap options in the energy sector may have a more difficult time right now.

That said, in every bull market, there are companies offering excellent value. In this article, I’m going to highlight two Canadian energy stocks that fit this profile.

Let’s take a look.

Top Canadian energy stocks: Arc Resources

One of the energy stocks I’ve had my eye on for some time is Arc Resources (TSX:ARX). This company’s stock price has been relatively volatile of late. That said, fortunately for investors, most of the volatility has been to the upside.

Trading near its 52-week high, Arc has been one of the better-performing energy stocks of late. Indeed, much of this has to do with Arc’s relatively levered balance sheet. As one of the poorest performers during the recent commodity price crash we saw last year, Arc stock has also rebounded sharply.

Still far off from its previous highs during the commodity surges this past decade, Arc stock has a tremendous amount of room to run.

This natural gas player has benefited greatly from improved energy prices of late. With many economists forecasting a cold winter and the potential for further price increases in the natural gas space, Arc is well positioned to take advantage of this catalyst. The company has a dividend yield of 2.3% at the time of writing.

Tourmaline Oil

Another natural gas and oil player, Tourmaline Oil (TSX:TOU) has more than doubled this year alone. This is one of the best-performing energy stocks on the market right now. Like Arc, I see more upside on the horizon for this name.

Indeed, one of the best performers since the onset of the pandemic, TOU stock has been a five-bagger for patient investors who’d bought the bottom. Whether similar performance can be seen in the years to come remains to be seen. However, this is a company with tremendous sensitivity to energy prices that could go on a nice run.

One of the differentiating factors with Tourmaline I focus on is the company’s dividend. This is a stock with a yield of 1.5% right now. However, the company recently announced a special dividend of $0.75 for each share payable next month. Investors bullish on commodity prices right now may want to take a look at Tourmaline as one of the top energy stocks to consider right now.

The post 2 Top Canadian Energy Stocks With Momentum to Buy Right Now appeared first on The Motley Fool Canada.

This Tiny TSX Stock Could be Like Buying Tesla in 2001

Our team of diligent analysts at Motley Fool Stock Advisor Canada has identified one little-known public company founded right here in Canada that’s at the cutting-edge of the space industry and recently completed a transformational acquisition, all while making a handsome profit in the process!

The best part is that in a market where many stocks are selling at all-time-highs, this stock is trading at what looks like a VERY reasonable valuation… for now.

Click here to learn more about our #1 Canadian Stock for the New-Age Space Race

More reading

Fool contributor Chris MacDonald has no position in any of the stocks mentioned.

2021

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting