The Globe and Mail attempts to identify the biggest losers in the S&P/TSX Energy Index over the last two months in its Tuesday, Jan. 27, edition. The Globe's Tim Shufelt writes that the crash in oil prices has left
the Canadian energy sector teeming
with casualties. Few have
been spared. Of the 66 stocks included
in the S&P/TSX energy index,
just five have advanced in
the two months since the Organization
of Petroleum Exporting
Countries announced it would
not be cutting back on crude oil
production in response to declining
global benchmark prices.
Since that decision, an excess
of global supply has pushed
crude prices down by almost 40
per cent, taking nearly every
major Canadian energy name
down with them.
Mr. Shufelt says he sought to identify the stocks
on which the greatest damages
have been inflicted.
To contrarian investors bullish
on oil, Mr. Shufelt's list could be mined
for buying opportunities. Mr. Shufelt, however, says most
investors will see his picks as stocks to steer well clear
of.
The Globe's biggest energy losers are Lighstream Resources, Pacific Rubiales Energy, Penn West Petroleum, Surge Energy, Legacy Oil + Gas, Canadian Oil Sands and Trilogy Energy.
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