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Oil and Gas Industry Among Best Performers on TSX in 2022

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According to a recent ranking of the TSX’s top performers, Canadian oil and gas companies dominated the Toronto Stock Exchange in 2022 due to increasing worldwide demand for energy and record-high commodity prices.

An annual ranking of the 30 best-performing stocks on the Toronto Stock Exchange (TSX) based on dividend-adjusted share price performance over three years.

This year, 14 of the top 30 places went to oil and gas companies, reflecting the recent recovery of Canadian energy stocks on equity markets, as shown in the 2022 edition of the list revealed on Thursday. Half of the TSX 30 businesses have their headquarters in Alberta this year.

Paramount Resources Ltd., Tourmaline Oil Corp., MEG Energy Corp., Athabasca Oil Corp., and Baytex Energy Corp. are just a few of the oil and gas companies that made this year’s list.

With eight companies included, the mining industry is the second most represented on this year’s TSX 30.

“From our perspective, it’s actually quite exciting,” said TSX’s president of capital formation and enterprise marketing officer, Loui Anastasopoulos.

“This is definitely a breakthrough year for Canada’s energy sector. It signals the global importance of the energy sector and the strong fundamentals we’re seeing from Canadian energy companies.”

Original source material for this article taken from here

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Written by Olivia Woods

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