Cardinal Energy Ltd (Alberta) T.CJ

Confused & Wonder

[Dadsaid2]

Im a bit confused on the debt...bank debt 42 mill + working capital deficiency ??? of 20mill = net debt of 62 mill same as Q2. Working cap deficiencies sucks. I wonder how the analysts will interrupt this little twist and affect ratings. Never the less, shareholder returns are good but the dumb a$$ market can be frugal ..GLTA

[Moremoney4u]

The future is SOLID, GREAT 3rd. QRT. FUND mgrs.  will soon be revising their TARGET PRICE to 12.50 in the new year. ALL the metrics are VERY positive, with more to come, i.e. dividend increase, buybacks, debt. reduced. etc.,. The price of oil  will probably remain under 100.00 $$ , however, CJ is VERY prosperous at 80.00 $$ oil. Its a GEM. LOAD UP THE TRUCK

[Coolson]

As per Statement of cash flow Decrease in bank debt (24,789).

[Billybabin61]

shows room for improvement on the working capital defiency. Appears as though they are not tracking their working capital effectively. It could eb their receivables, payables or their inventories. Miss on earnings at .21 I believe the so called experts were calling for about.33. Not a bad report given the debt reduction, production.

[Luxor69]

All depends on how you lQQk at things. Another awesome Q, well done CJ team Cheers

[Wildfury]

Don't panic about the small debt ,Cardinal is in great shape . This is not a stock to day trade , the bid & ask lots are usually very small amounts . Look at it this way ,they produce over 20,000 boed that they sell at market prices with a debt of $62 million & pay a dividend monthly of .06 cents per share. Compare this to Baytex energy which I also hold & reported their earnings

[Gringotts]

Great post Wildfury! You have outlined many of the reasons why I sold my baytex trading two days ago and purchased Cardinal with the proceeds. Baytex is a good company but Cardinal at the moment just happens to be better.  glta

[CJInvestor]

Posts like this is why most of us check on this group and come here to learn something. Thank you for your insights. I am in complete alignment with this and now have cj as my only oil play. All my eggs are in this basket!

[masfortuna]

I am not sure I would do THAT.

[VbayNo2]

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[steve957]

yeah the debt  decreased about 7 mill from last quarter pluss 24 mill to buy shares back and 24 mill to dividends,,,I always hear nuttal talk about baytex, crew energy and atahbasca saying their wells payout the fastest in north america but these companice always seem to have huge debt and rarely pay a dividend or in atahabasca and crews case never paid a dividend,,oil over 80 and cj is

[Moremoney4u]

GREAT comment, CJ IS A GEM. High dividend, grEAt earnings, buybacks, debt reduction, blah, blah, blah. I believe next year we will see another 20% dividend increase, stock will be close to target price of 12.50. INSIDERS hold a lot of shares, great,  CJ has great land position, paybacks are quick, LOAD UP THE TRUCK.  12.50 AND HIGHER.  Fund MGRS, will soon RE- RATE CJ. 

[sclarda]

Dadsaid2 wrote Im a bit confused on the debt...bank debt 42 mill + working capital deficiency ??? of 20mill = net debt of 62 mill same as Q2. Working cap deficiencies sucks. I wonder how the analysts will interrupt this little twist and affect ratings. Never the less, shareholder returns are good but the dumb a$$ market can be frugal ..GLTA -------------------------------------------------------

[Tradestay]

Q2 press release said the will reduce debt to under $50M in 3rd quarter. Where exactly did you read or hear about them being debt free end of 2022. I don't think that's accurate or maybe I missed it.

[sclarda]

Tradestay wrote Q2 press release said the will reduce debt to under $50M in 3rd quarter. Where exactly did you read or hear about them being debt free end of 2022. I don't think that's accurate or maybe I missed it. ------------------------------------------- CJ website.  Investor presentation page 15. We have  also been discussing it on this board for months. 

[vwbusman]

Would have been nice to hear that debt will be gone in 2022 as previously suggested.  I think they should skip further share buybacks now that the share price is a bit higher and just go after debt repayment.   Once debt is gone, leaves lots of room to pursue further buybacks aggressively before 2024 tax on buybacks.

[Coopsvw92]

Management took advantage of a sell off and repurchased 3.7 million shares at a significant discount to current price.  If you don't have faith in the management team I would sell. Personally I have full confidence and don't question every move.  Cardinal will be debt free in the coming quarters and the dividend will rise further.  Sit back, relax, collect a great monthly

[caretired1]

I agree! but their comment that the debt cost is now about the same as the dividend yield means they will probably allocate more to debt repayment now instead of buybacks unless the share price drops - so that should calm the debt repayment hounds on this board