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An oil and gas pump jack near Granum, Alta. Photo by Todd Korol/Reuters files Oil and gas companies have come roaring back onto the Toronto Stock Exchange’s annual list of top stocks after a three-year absence. Article content Fourteen energy producers made the 2022 list of the 30 best performing stocks on the S&P/TSX index over the past three years, posting an average share-price increase of 306 per cent over that period. Article content Obsidian Energy Ltd. (formerly Penn West Petroleum Ltd.), a mid-size oil and gas company focused on light oil in central Alberta, led the energy pack after its dividend-adjusted share price rocketed 537 per cent since 2019, according to TMX Group Ltd.’s fourth annual ranking. Only Aura Minerals Inc. did better. Energy companies and one oilfield service company leapfrogged conventional growth stocks on this year’s list, as shares rallied alongside surging oil prices. “We’re seeing an interest in the sector that we haven’t seen in years,” said TSX CEO Loui Anastasopoulos. “We’re seeing companies use their cash flows to pay down debt, buy back shares, increase dividends etc. It’s a lot of positive stuff.” Article content Anastasopoulos added: “You can’t ignore the geopolitical situation with the […]
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