Cardinal Energy Ltd (Alberta) T.CJ

Oil goes up and stock goes down too funny

[GoldenArm]

The price for CJ is the same as it was when oil was high 70s and now in low 90s it is under valued. EPS should rise and flush up the accounts.

[harvester]

Most oil stocks down today. Market manipulation. Hang in there. This will rocket.

[lashing]

well there are some large things lingering. War. Mandates. These are pretty big worries.

[Ladyfern]

Lycos lcx is up .

[Quintessential1]

But not a divy cut anymore though right?  ;-) GLTY and all 

[Pottsy]

Q1, hope not as I am back in today at 7.23, intend going to divi time. I can't figure out why this stock is stuck, like BTE.  Any comments.    P

[Quintessential1]

Welcome back Pottsy!  CJ's share price appears to be range-bound because without an ER it cannot demonstrate how much revenue it is generating IMO.  Maybe if they gave monthly updates like GXE on production and  net surplus on debt they might get a little traction in-between quarterly reports but those reports can be a double edged sword and did not help GXE much.  As for

[Pottsy]

Thanks Q1  always great information,  I agree monthly updates would help, but why aren't they providing this. My magic carpet has let me down recently however it is saying buy and hold. I checked VectorVest, all good no issues so let's see what happens. As I said in my last post bought in at $7.23 after a sell at $7.42.  This stock is good for traders but the key is patience

[meritmat]

Can't see any oil company running into issues with oil over 90.  Just have to wait for 3qt results to see the positive 

[Quintessential1]

Thanks P.   Like I said monthly updates did not help GXE but only served to show how much more they were spending than making and then prompted sell offs and a divy cut.  Probably too soon as it turns out as the August update showed them making money and paying down some debt.  If they were making money in August its safe to assume that CJ was too or at least breaking even and

[JayBanks]

Last October we seen a dividend increase followed by the financials in November... I'm not suggesting we see one announced in a few weeks (but I want it)... Our Bank Debt has been mildly reduced from that Q3 to our current Q2, but Net Debt has grown... but by the end of September both Bank and Net might be substantially cut down... Also Oil is currently in a similar area as at that time,

[Pottsy]

Thanks JayB, I agree with your comments, I would love monthly also it would support traders because of the potential ups znd downs.  Look at today we hit $7.52 on a slightly red oil price as of now at a green .52% increase in oil we are at $7.35  what is going on....   P

[Coopsvw92]

The last thing CJ needs is a dividend increase.  Time to buy back shares.

[Quintessential1]

I tend to agree that a dividend increase is premature and might be detrimental at this point. Showing the market and investors that CJ has a strong financial position by either paying down some debt and or buying back shares (whichever is more financially prudent) could be the right course of action now.   For whatever reason I hate the 2% buyback tax that is coming in 2024 so I would

[masfortuna]

 Good perspective mate.  I would prefer they just pay down the debt as much as they can and as quickly as they can. They will save on interest payments which they could then give out as special divies. Just a thought.  BTW if oil stays above $90 for 5-6 months, the debt load would evaporate.