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2022 has been a bear market year for stock markets worldwide. As of this writing, the S&P/TSX Composite Index is down by 12.44% from its 52-week high after recently coming close to its 52-week low. Most stocks across the board have consistently declined this year. Regardless of the macroeconomic environment, one sector of the Canadian economy boasting stocks has outperformed the rest of the market. Energy stocks have done surprisingly well this year. While the Canadian benchmark index is down by a substantial margin year to date, the S&P/TSX Capped Energy Index , the energy sectorâs sub-segment in the stock market, is up by a massive 60% in the same period. A few energy stocks have performed even better. Energy stocks across the border have also performed better than the largely tech-heavy S&P 500 Index . Today, I will discuss three oil stocks you should consider adding to your portfolio to leverage the North American energy sectorâs strength. Cenovus Energy Cenovus Energy ( TSX:CVE ) is a $55.12 billion market capitalization Canadian integrated energy company. Headquartered in Calgary, the oil and natural gas company primarily creates value by developing its oil sands assets while producing conventional energy products. As […]
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