COVID-19 has wreaked havoc on all Canadian energy companies as the demand for oil has simply plummeted. Importantly, demand and subsequently the price of oil has been the most impacted energy commodity. Better than expected earnings and higher crude oil prices due to the Trump administrationâs tighter sanctions on Iranâs oil are creating strong tailwind â¦ It is important to seek out a qualified investment, tax or legal professional before making any decisions related to your own personal investments. Fortunately, it has been dealing with low natural gas prices for years and it is one of the industry’s lowest cost producers. With this, we will need oil companies to produce the commodity and pipelines to ship it. Fool contributor Nelson Smith owns shares of EXTENDICARE INC. Not to alarm you, but you’re about to miss an important event. Next up on this list of top penny stocks is Cenovus â one of Canadaâs largest oil producers. Next up on this list of top penny stocks is Cenovus (TSX:CVE)(NYSE:CVE) — one of Canada’s largest oil producers. Canadian Natural had been outperforming the TSX Index fairly consistently prior to the COVID-19 crash in March, as you'll see in the chart below. After all, seniors will still need care even after all this COVID-19 stuff is behind us. The Motley Fool Canada » Dividend Stocks » 3 Dirt-Cheap Penny Stocks Trading Under $5, Nelson Smith | March 24, 2020 | More on: CVE CLR CVE EXE. It is also trading at a 33% discount to analysts one-year price target of $52.10 per share. We understand – it is very difficult to invest in oil producers. The firm engages in the acquisition, development and production of crude oil and natural gas in the Western Canadian â¦ First, Tourmaline is the largest natural gas producer in the country and is almost a commodity pureplay (~80% of production). We’re talking returns of 200%, 300%, or even as high as 500%. Over the past three, it has closed on six transformative acquisitions. Each of these Canadian penny stocks could be a risky investment. The yield is 9.6%, and the payout ratio is around 80% of trailing earnings. It also currently yields a hefty 8.26% which is well above historical averages. Let’s take a closer look at three of Canada’s top penny stocks — companies that have become incredibly cheap in today’s bear market. These stocks are trading at historical lows and are currently facing significantly volatility. Ultimately, however, there’s only one thing that will elevate Cenovus away from the world of penny stocks. Heck, we even saw this with a major producer in Suncor Energy (TSE:SU), that cut its dividend very shortly into the pandemic. All content on Stocktrades is the views of the individual reporters. Should You Prepare With Gold? Market Cap: $53.9 billionForward P/E: 14.24Yield: 5.64%Dividend Growth Streak: 19 yearsPayout Ratio (Earnings): 70.28%Payout Ratio (Free Cash Flows): Premium Members OnlyPayout Ratio (Operating Cash Flows): Premium Members Only1 Yr Div Growth Rate: 8.70%5 Yr Div Growth Rate: Premium Members OnlyStocktrades Growth Score: Premium Members OnlyStocktrades Dividend Safety Score: Premium Members Only. I won’t try to downplay it. Here is a quick excerpt on the top 10 dividend growth stocks opportunities identified through the Canadian Dividend Stock â¦ The company is also one of the premier income stocks on the TSX Index. Returns since inception, October 2013. With great upside potential comes significant risk. At that time gold stocks were highly leveraged which led to significant write-downs, dividend cuts and bankruptcies. Canadian Oil Sands (OTCQX:COSWF) This is a senior production company with reliable leverage to higher oil prices as they do not hedge. The dividends get cut, and the stock prices crater. Rounding out this list of top Canadian penny stocks is Clearwater Seafood (TSX:CLR), which is one of the nation’s top shellfish producers. The stock trades at approximately seven times earnings, with the bottom line unlikely to be impacted that much over the near term. In fact, it is trading below even the lowest street target of $43.00 per share. Yup, there are cheap canadian oil stocks - Video - BNN Environmental groups should buy up cheap stocks in the sectors that most contribute to climate change, including energy and aviation, the director of a leading European research center has urged. Canadian oil and gas stocks rallied for a second day following Alberta's decision to invest in the Keystone XL pipeline but analysts and portfolio managers said even slightly positive news can cause dramatic moves in markets. Best Renewable Energy Stocks – Clean Energy Stocks for 2020, Canadian REITs for 2020 – 7 of the Top REITs in Canada, Canada’s Top 10 Dividend Stocks for 2021 and Beyond, PO Box 16018 Lower Mount Royal, Calgary, Alberta, T2T5H7, Canada, The 5 Best Canadian Bank Stocks to Buy Now, 7 Small-Cap Canadian Stocks To Buy In 2020, The Best Canadian oil and pipeline stocks to buy today. As investors wait for the rebound, they can also enjoy a safe and reasonable 3.30% yield from this Canadian Dividend Aristocrat which has raised the dividend for seven consecutive years. Market Cap: $5.505 billionForward P/E: 134Yield: 3.30%Dividend Growth Streak: 7 yearsPayout Ratio (Earnings): 120.24%Payout Ratio (Free Cash Flows): Premium Members OnlyPayout Ratio (Operating Cash Flows): Premium Members Only1 Yr Div Growth Rate: 1.70%5 Yr Div Growth Rate: Premium Members OnlyStocktrades Growth Score: Premium Members OnlyStocktrades Dividend Safety Score: Premium Members Only. ... letâs take a look at cheap stocks â¦ Aphria-Tilray Merger: Is the Cannabis Trade About to Heat Up Again? All rights reserved. Up 8.08% year to date, it has crushed its peers and the S&P/TSX Energy Index. Oil and energy stocks have plunged in value since the coronavirus pandemic emerged. There are numerous options when it comes to Canadian energy companies with a strong focus on oil. In fact, it is trading at a steep discount (25%) to analysts estimates which have a unanimous ‘buy’ rating and an average one-year target of $46.00 per share. Figure 2 shows the relative valuation of the TSX compared to the S&P 500 using 12-month forward Price/Earnings multiples. SmallCapPower | April 8, 2020: A double whammy of COVID-19 and the Russia, Saudi Arabia production dispute has battered Canadaâs oil patch.The economy, though, needs oil and gas and demand is â¦ In fact, experts believe we should see steadily improving supply/demand dynamics through 2021. Market Cap: $79.4 billionForward P/E: 14.70Yield: 8.26%Dividend Growth Streak: 24 yearsPayout Ratio (Earnings): 126.56%Payout Ratio (Free Cash Flows): Premium Members OnlyPayout Ratio (Operating Cash Flows): Premium Members Only1 Yr Div Growth Rate: 9.99%5 Yr Div Growth Rate: Premium Members OnlyStocktrades Growth Score: Premium Members OnlyStocktrades Dividend Safety Score: Premium Members Only. Oil must recover to around the $50-per-barrel level. So, why this outperformance in 2020? The combination of rapid growth and cheap valuations can be a goldmine for opportunistic investors. Furthermore, it is one of the best performing pipelines in the country. If you believe that will happen, the stock has massive upside potential. Shares are currently $2.35 apiece. Here are the top 10 Canadian dividend stocks for this month, see below for the details. On top of the setup phase marijuana companies go through, American â¦ Here comes value: 10 Canadian bargain stocks Open this photo in gallery: Rogers Sugar is a familiar brand name in Western Canada; in the East, itâs known as Lantic Sugar, which it bought in 2002. Stock Market Crash 2021: Time to Consider These 3 Utility Stocks. An active dividend and growth investor, Dan has been involved with the website since its inception. The company also has a robust home healthcare division, and it manages facilities for third parties. "Oil is up only modestly, but small changes in sentiment have a huge impact on share prices at these low â¦ April 23, 2020 7:20 am. Furthermore, outlook remained unchanged as 95% of EBITDA is underpinned by regulated assets and/or long-term contracts. Canadian oil and gas stocks are setting up for a long-term boom.. Itâs true that over the last five years, Canadian energy stocks have underperformed against their southern rivals. Can Shopify (TSE:SHOP) Keep up It’s Torrent Growth Rate? It is the ONLY mid-to-senior tier producer that is in positive territory for the year. At 24-years, Enbridge has one of the longest dividend growth streaks in the country. I disagree. However, Stocktrades is by no means associated with the Toronto Stock Exchange, or any of the companies we cover. 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