RE:Confused & Wonder
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 last week with a debt of $1.1 Billion , pay no dividend & and produce just over 4x the oil & gas amounts per day as Cardinal does. Baytex's debt is almost 18 x more then Cardinals , that's 18:1 ratio , winner CJ . Monthly dividend of 6 cents per share for CJ , BTE 0 ,winner CJ . If you want to compare debt vs production for both , Cardinal produces 1/4 the amount with 62 million debt then Baytex ideally would have a debt of 250 million as a comparison , but they have 850 million more as a comparison . Another bullish fact that is probably overlooked more than debt is the outstanding shares on the market . Cardinal energy has 155 million shares in the float approximately , Baytex has over 500 plus million outstanding shares in the float. Another crazy fact about CJ , they are buying back shares , not to mention that insiders at CJ have a high percentage of their own shares. 2023 will be amazing for energy companies , SPR ends , Russian supply ends , the CJ party begins .