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

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Cardinal Energy Ltd (CJ.TO)

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11.79

-0.45 (3.68%)

as of Jun 5, 2026, 8:00:00 pm Market Open.

267 watching

Investor Insights

Jun 6, 2026, 12:00 am

This summary was created by AI, based on 5 opinions in the last 12 months.

Cardinal Energy Ltd (CJ-T) has shown resilience and potential for growth amidst a favorable oil market, with recent support levels noted at $10. The company's innovative small-scale SAGD technology positions it well for future expansion and profitability, particularly as it continues to sustain its dividend without relying heavily on debt, even as leverage has increased. Experts highlight a strong commitment to maintaining high dividend yields which currently hover around 7.8% to 9%, although concerns about an elevated payout ratio exist. The company’s growth projections are modest, with anticipated growth around 5%, necessitating a bullish stance on oil prices for significant upside. Overall, while there are indications of sustainability in operations, expectations for substantial dividend increases may be tempered in the near future.

Consensus

Valuation

Fair Value

Similar

MEG,MEG

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.

DON'T BUY

Is a light and medium oil producer. This was a $15 stock 5 years ago. It is very cheap. Their dividend is very sustainable at $57-60 oil values. It is undervalued but there may be other opportunities elsewhere. It is an example of how the small cap companies are challenged in Canada. You probably want to invest where the money is going to go first which is not this name.

DON'T BUY

They had to cut their dividend. Book value is $6.17. It does not have enough money to reinvest. The balance sheet has a lot of debt. They are going into survival mode. When the recovery happens in perhaps Q4 this year, then this kind of company will survive and perhaps raise the dividend soon after.

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Cardinal Energy Ltd (CJ.TO)