Cardinal Energy Ltd (CJ.TO) Buy, Sell or Hold

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Cardinal Energy Ltd (CJ.TO)

11.92

-0.33 (2.69%)

as of Aug 28, 2026, 8:00:00 pm Market Open.

275 watching

Investor Insights

Aug 30, 2026, 12:00 am

This summary was created by AI, based on 7 opinions in the last 12 months.

Cardinal Energy Ltd. is a smaller cap oil company primarily focused on medium to heavy oil production in Saskatchewan. The company has shown promising growth potential due to its operational performance and recent expansion into thermal assets, which helped it hit capacity within four months of commissioning. Currently, it maintains a high dividend yield, which is sustainable given its shift in capital spending and its strategic approach in the SAGD segment. Despite having a significant debt load, analysts believe this is manageable relative to cash flow. The general sentiment among experts suggests that the company will remain closely tied to oil price movements, making it a stock primarily for investors who are bullish on the energy sector and oil prices moving forward.

Consensus

Valuation

Fair Value

Similar

CrescentPoint, CPG

TOP PICK

Had a convertible note that was converted to stocks so bought it. 7% stake in the company. 2.3x cashflow at $60 oil. Trading at 34% free cashflow yield. Not the most exciting asset, but generates a lot of free cash. They could reinstate their dividend. (Analysts’ price target is $2.65)

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BUY

Likes it. Mostly owned by retail investors, so he can't find an institution to buy a lot of shares from (for his fund). He price-targets $35 share price and 120% upside.

DON'T BUY

It would not be a name he would own. The number of market participants are very small. There is a certain market-cap threshold for market relevance. There is a pressure for MnA. It has higher cost, medium heavy oil company. They suspended dividends.

DON'T BUY

A small cap, medium heavy producer. Because they own older fields, operating costs are higher. Banks cut their lines by 30%. There is free cashflow and there is liquidity. However, he would look elsewhere.

DON'T BUY

Light production? It struggles for relevance in the market as a medium to medium-light oil producer. They cut the dividend to zero to de-lever. They purchased old oil fields, but with the higher operating costs and higher risk for environmental liability he would not own this.

DON'T BUY

There are a couple of knocks in terms of leverage. They have more older well bores. Management don't own enough stock.

DON'T BUY

Privatization possibility? He is not surprised privatizations have not happened already in the space. He suggests taking a tax loss and roll into a better oil producer. The demand for the small cap names is just too small right now.

BUY ON WEAKNESS

It is one of those oil producers that was a dividend oil producing company. They are using cash flow to pay down debt. They are out of favour but take advantage of tax loss selling.

COMMENT

Is the yield safe? Pays 7.9%. One of his few oil stocks. We're at the bottom of the oil cycle, though who knows for how long? CJ has a low decline rate and are buying back lots of share. The yield is safe at current oil prices and will move up or down with oil prices.

PARTIAL BUY

They are a formal dividend model. They cut the dividend as prices came down. They produce mainly oil. Debt is 26% of equity. They have been using cash flow to pay down debt. The financial statements look good. He thinks in the future they will go up, but in the near term they may come off. Only buy a little bit her.

PAST TOP PICK

(A Top Pick Sep 28/18, Down 55%) Typical for the sector as a whole. He continues to hold onto it.

DON'T BUY

Challenging. A price-taker. Along with the others, has had a negative return. Instead, something like a CN makes more sense, as it's a proxy play on oil.

WAIT

A more levered up energy company. It has become historically cheap. Trades at 0.4 times book. He needs to see price momentum turn before getting in.

HOLD

A small-cap heavy oil producer that has done well. For a large institutional buyer, there is just not enough liquidity. They did increase the dividend and they are buying back stock. Yield 5.8%

HOLD

The basing in the stock price is similar with the energy sector as a whole. He sees a potential back to $4-$5. He does not see much correlation with the underlying commodity price.

Showing 31 to 45 of 142 entries

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Cardinal Energy Ltd (CJ.TO)