Cardinal Energy Ltd (Alberta) T.CJ

I don’t get it. Oil is at yearly highs and CJ hasn’t budged

[Central1951]

But CJ certainly tracks oil when it drops

[Cobalt]

Ya something is not right , the price action tells me that , chart looks to be rolling over dyodd

[Quintessential1]

I think you get it.  I think what you mean is you don't like it and I don't blame you. I too thought that a move above $80 WTI would have rallied the stock's share price. It has put a decent floor under the share price as we don't see it dipping under $7 anymore but hardly a rally or run up. My guess is that the market didn't care for the low production number in Q2 due

[mickeymouse]

Agree with everything in your post - also very happy with a secure dividend and they do have room to pay down debt or use their NCIB. In terms of their balance sheet debt they are projected to be at either .3x or .4x D/CF at the end of 2023 (depending on the analyst) - I don't really see how this is a concern - TOU is projected to be at .1x and ERF at .2X but the other companies that were

[Sailboatdream]

I wants to break out.  Every morning we see positive price action.  And then sp pushed back down in the afternoon.  Certainly feels like someone keeping a lid on sp purposefully.  

[TheWokeLemming]

I think CJ needs WTI $85+ before buying back any shares and a share price closer to $8.  I used to believe their divvy allowed for more FCF but was clearly wrong.  They have put all their eggs into the .06 divvy probably a mistake in hindsight.  If you want torque, look at ATH or BTE.  CJ is safe and boring when WTI sits $80-$85.  My opinion only.