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Cardinal Energy

TSX:CJ
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CJ
TSX
CA$273M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan, Canada. The last earnings update was 71 days ago. More info.


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  • Cardinal Energy has significant price volatility in the past 3 months.
CJ Share Price and Events
7 Day Returns
-0.4%
TSX:CJ
1.5%
CA Oil and Gas
0%
CA Market
1 Year Returns
-57.1%
TSX:CJ
-16.4%
CA Oil and Gas
-2.8%
CA Market
CJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cardinal Energy (CJ) -0.4% 2.6% -27.5% -57.1% -74.8% -86.9%
CA Oil and Gas 1.5% 2.4% -6.6% -16.4% -14.2% -37.9%
CA Market 0% 1% -1.7% -2.8% 8% 1%
1 Year Return vs Industry and Market
  • CJ underperformed the Oil and Gas industry which returned -16.4% over the past year.
  • CJ underperformed the Market in Canada which returned -2.8% over the past year.
Price Volatility
CJ
Industry
5yr Volatility vs Market

Value

 Is Cardinal Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cardinal Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cardinal Energy.

TSX:CJ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.2%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:CJ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.926 (1 + (1- 26.5%) (93.75%))
1.378
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.38
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.378 * 5.96%)
10.16%

Discounted Cash Flow Calculation for TSX:CJ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cardinal Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:CJ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 10.16%)
2020 42.00 Analyst x3 38.13
2021 38.15 Est @ -9.16% 31.44
2022 35.93 Est @ -5.83% 26.87
2023 34.67 Est @ -3.5% 23.54
2024 34.02 Est @ -1.86% 20.97
2025 33.78 Est @ -0.72% 18.90
2026 33.81 Est @ 0.08% 17.17
2027 34.02 Est @ 0.64% 15.69
2028 34.37 Est @ 1.03% 14.39
2029 34.82 Est @ 1.31% 13.23
Present value of next 10 years cash flows CA$220.33
TSX:CJ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$34.82 × (1 + 1.95%) ÷ (10.16% – 1.95%)
CA$432.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$432.19 ÷ (1 + 10.16%)10
CA$164.20
TSX:CJ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$220.33 + CA$164.20
CA$384.53
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$384.53 / 115.20
CA$3.34
TSX:CJ Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$3.34
Current discount Discount to share price of CA$2.37
= -1 x (CA$2.37 - CA$3.34) / CA$3.34
29%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cardinal Energy is available for.
Intrinsic value
29%
Share price is CA$2.37 vs Future cash flow value of CA$3.34
Current Discount Checks
For Cardinal Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cardinal Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cardinal Energy's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cardinal Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cardinal Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$0.50
TSX:CJ Share Price ** TSX (2019-07-16) in CAD CA$2.37
Canada Oil and Gas Industry PE Ratio Median Figure of 59 Publicly-Listed Oil and Gas Companies 13.4x
Canada Market PE Ratio Median Figure of 539 Publicly-Listed Companies 15.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cardinal Energy.

TSX:CJ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:CJ Share Price ÷ EPS (both in CAD)

= 2.37 ÷ 0.50

4.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cardinal Energy is good value based on earnings compared to the CA Oil and Gas industry average.
  • Cardinal Energy is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Cardinal Energy's expected growth come at a high price?
Raw Data
TSX:CJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
Not available
Canada Oil and Gas Industry PEG Ratio Median Figure of 35 Publicly-Listed Oil and Gas Companies 0.82x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Cardinal Energy, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cardinal Energy's assets?
Raw Data
TSX:CJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$6.62
TSX:CJ Share Price * TSX (2019-07-16) in CAD CA$2.37
Canada Oil and Gas Industry PB Ratio Median Figure of 223 Publicly-Listed Oil and Gas Companies 0.79x
Canada Market PB Ratio Median Figure of 2,440 Publicly-Listed Companies 1.43x
TSX:CJ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:CJ Share Price ÷ Book Value per Share (both in CAD)

= 2.37 ÷ 6.62

0.36x

* Primary Listing of Cardinal Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cardinal Energy is good value based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Cardinal Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Cardinal Energy has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Cardinal Energy expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.3%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Cardinal Energy expected to grow at an attractive rate?
  • Unable to compare Cardinal Energy's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Cardinal Energy's earnings growth to the Canada market average as no estimate data is available.
  • Cardinal Energy's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:CJ Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:CJ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 7.3%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 6.6%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 13.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:CJ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:CJ Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 152
2021-12-31 424 153 1
2020-12-31 381 115 2
2019-12-31 381 117 3
TSX:CJ Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 320 84 57
2018-12-31 319 89 61
2018-09-30 351 106 -79
2018-06-30 332 102 -100
2018-03-31 297 93 -78
2017-12-31 271 77 -58
2017-09-30 237 62 -35
2017-06-30 210 60 -28
2017-03-31 196 58 -64
2016-12-31 171 61 -87
2016-09-30 158 60 -54
2016-06-30 149 71 -156

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Cardinal Energy is high growth as no earnings estimate data is available.
  • Cardinal Energy's revenue is expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:CJ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Cardinal Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CJ Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31
TSX:CJ Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 0.50
2018-12-31 0.53
2018-09-30 -0.69
2018-06-30 -0.89
2018-03-31 -0.76
2017-12-31 -0.61
2017-09-30 -0.42
2017-06-30 -0.36
2017-03-31 -0.88
2016-12-31 -1.25
2016-09-30 -0.81
2016-06-30 -2.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Cardinal Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Cardinal Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cardinal Energy has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Cardinal Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cardinal Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cardinal Energy's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Cardinal Energy has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Cardinal Energy has become profitable in the last year making it difficult to compare the CA Oil and Gas industry average.
Earnings and Revenue History
Cardinal Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cardinal Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CJ Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 320.48 57.35 26.75
2018-12-31 318.87 60.54 27.35
2018-09-30 350.77 -78.52 29.66
2018-06-30 331.72 -99.66 29.83
2018-03-31 297.05 -78.47 29.11
2017-12-31 271.45 -57.60 28.34
2017-09-30 236.73 -35.29 23.75
2017-06-30 210.12 -27.58 22.39
2017-03-31 196.35 -64.12 21.95
2016-12-31 171.30 -87.32 20.98
2016-09-30 158.05 -54.39 20.29
2016-06-30 148.56 -155.70 20.10
2016-03-31 150.89 -98.70 19.95
2015-12-31 155.67 -95.90 20.09
2015-09-30 172.00 -69.96 22.12
2015-06-30 181.38 57.97 20.93
2015-03-31 176.21 40.06 19.76
2014-12-31 179.29 53.81 18.31
2014-09-30 135.44 63.36 14.73
2014-06-30 97.05 40.46 12.22
2014-03-31 62.29 36.58 9.62
2013-12-31 31.38 35.20 6.95
2013-09-30 24.23 -2.09 5.19
2012-12-31 3.38 -3.82 2.06

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cardinal Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cardinal Energy used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Cardinal Energy has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Cardinal Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cardinal Energy has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Cardinal Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cardinal Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cardinal Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Cardinal Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cardinal Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cardinal Energy Company Filings, last reported 3 months ago.

TSX:CJ Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 771.67 249.69 2.08
2018-12-31 792.62 259.59 2.69
2018-09-30 715.26 232.44 6.01
2018-06-30 707.16 248.34 5.43
2018-03-31 737.20 248.30 2.23
2017-12-31 749.96 266.15 3.32
2017-09-30 813.41 286.44 6.69
2017-06-30 834.53 280.03 7.75
2017-03-31 675.51 129.56 1.96
2016-12-31 651.08 107.63 1.27
2016-09-30 681.25 69.23 4.13
2016-06-30 689.99 70.94 3.88
2016-03-31 661.46 132.50 1.04
2015-12-31 680.45 137.31 1.27
2015-09-30 634.61 56.72 2.47
2015-06-30 743.03 53.23 1.96
2015-03-31 727.09 40.10 1.62
2014-12-31 747.93 47.74 1.33
2014-09-30 729.32 62.28 3.31
2014-06-30 363.94 0.00 5.54
2014-03-31 362.87 4.00 1.22
2013-12-31 336.86 9.32 1.39
2013-09-30 63.27 36.27 0.50
2012-12-31 61.31 11.27 0.22
  • Cardinal Energy's level of debt (32.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.1% vs 32.4% today).
  • Debt is well covered by operating cash flow (33.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.7x coverage).
X
Financial health checks
We assess Cardinal Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cardinal Energy has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Cardinal Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.59%
Current annual income from Cardinal Energy dividends. Estimated to be 6.51% next year.
If you bought CA$2,000 of Cardinal Energy shares you are expected to receive CA$152 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cardinal Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.06%).
  • Cardinal Energy's dividend is above the markets top 25% of dividend payers in Canada (5.75%).
Upcoming dividend payment

Purchase Cardinal Energy before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:CJ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 4.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:CJ Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.18 1.00
2021-12-31 0.09 2.00
2020-12-31 0.18 6.00
2019-12-31 0.15 5.00
TSX:CJ Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-06-10 0.180 7.531
2019-04-15 0.120 4.170
2019-03-12 0.120 4.472
2019-02-11 0.120 5.317
2019-01-11 0.120 5.435
2018-12-06 0.120 5.337
2018-11-13 0.420 14.434
2018-10-12 0.420 10.855
2018-09-13 0.420 8.246
2018-08-09 0.420 8.114
2018-07-16 0.420 7.744
2018-06-12 0.420 7.776
2018-05-10 0.420 7.776
2018-04-16 0.420 8.069
2018-03-15 0.420 9.419
2018-02-12 0.420 9.931
2018-01-09 0.420 9.018
2017-12-12 0.420 8.631
2017-11-08 0.420 8.659
2017-10-11 0.420 9.256
2017-09-11 0.420 9.331
2017-08-10 0.420 10.168
2017-07-12 0.420 9.280
2017-06-14 0.420 9.122
2017-05-04 0.420 7.191
2017-04-06 0.420 6.214
2017-03-13 0.420 5.932
2017-02-14 0.420 5.119
2017-01-17 0.420 4.778
2016-12-02 0.420 4.165
2016-11-10 0.420 4.603
2016-10-12 0.420 4.539
2016-09-12 0.420 5.141
2016-08-10 0.420 4.667
2016-07-12 0.420 4.525
2016-06-09 0.420 4.302
2016-05-10 0.420 4.409
2016-04-07 0.420 4.686
2016-03-16 0.420 4.878
2016-02-11 0.420 5.779
2016-01-15 0.420 6.677
2015-12-08 0.840 10.224
2015-11-10 0.840 8.112
2015-10-14 0.840 7.713
2015-08-13 0.840 8.547
2015-07-15 0.840 6.918
2015-06-10 0.840 5.879
2015-05-12 0.840 5.593
2015-04-13 0.840 5.304
2015-03-11 0.840 5.705
2015-02-10 0.840 5.985
2015-01-13 0.840 6.351
2014-12-10 0.840 6.490
2014-11-13 0.840 5.650
2014-10-14 0.840 4.991
2014-09-11 0.840 4.566
2014-08-20 0.650 3.257
2014-07-14 0.650 3.459
2014-06-11 0.650 3.618
2014-05-12 0.650 3.998
2014-04-10 0.650 4.178
2014-01-08 0.650 4.864

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Cardinal Energy has been paying a dividend for less than 10 years.
  • Cardinal Energy has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Cardinal Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Cardinal Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cardinal Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cardinal Energy has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Cardinal Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
M. Ratushny
COMPENSATION CA$1,419,165
AGE 54
TENURE AS CEO 7 years
CEO Bio

Mr. M. Scott Ratushny has been the Chief Executive Officer of Cardinal Energy Ltd, since May 11, 2015 and served as its President since November 9, 2017 until February 2019. Mr. Ratushny served as the Chief Executive Officer of Midway Energy Ltd. from July 2009 to May 2012. Mr. Ratushny has over 15 years of diverse oil and gas experience and has been involved in the creation, financing and growth of 9 successful private and public oil and gas companies. Mr. Ratushny has also been involved as director of two public oil and gas service companies. He has had a track record of creating value for his shareholders in each of the predecessor companies. Mr. Ratushny has been an Independent Businessman and President of Eagle Equities Ltd., a private Alberta corporation since September 2002 and served as its Chief Executive Officer of EET since March 6, 2008. He served as the Chief Executive Officer of Trafalgar Energy Ltd. He served as the President and Chief Executive Officer of Campion Resources Ltd., a public oil and gas company from October 1998 to June 2002. He served as Chief Executive Officer of E4 Energy Inc. (Formerly Southpoint Resources Ltd.) from December 15, 2004 to August 23, 2005 and served as its President from February 25, 2003 to December 2004. Mr. Ratushny has been the Chairman of Cardinal Energy Ltd since May 3, 2011. He serves as the Chairman at Enseco Energy Services Corp. He served as the Chairman of Midway Energy Ltd. from July 2009 to May 2012. He served as the Chairman of E4 Energy Inc. (Formerly Southpoint Resources Ltd.) from December 15, 2004 to August 23, 2005. Mr. Ratushny served as the Managing Director and Chief Operating Officer of Southpoint Resources Ltd. He served as the Chairman and Chief Executive Officer of Pilot Energy Ltd. from April 2004 to January 2008. He served as the Chairman of Alegria Capital, Inc. He has been a Director at Enseco Energy Services Corp. since October 2006. He served as a Director of Divestco Inc. from September 23, 2003 to May 13, 2010. He served as an Independent Director of Pilot Energy Ltd. since April 2004. He served as a Director of Ultrasonix Medical Corporation, Trafalgar Energy Ltd. and Broadcast Capital Corp. He served as a Director of E4 Energy Inc., from January 2004 to June 2007 and EET since March 6, 2008. Mr. Ratushny served as a Director of International Datashare Corp. and Alegria Capital, Inc. since April 2004.

CEO Compensation
  • M.'s compensation has been consistent with company performance over the past year, both up more than 20%.
  • M.'s remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Cardinal Energy management team in years:

1.7
Average Tenure
50
Average Age
  • The average tenure for the Cardinal Energy management team is less than 2 years, this suggests a new team.
Management Team

M. Ratushny

TITLE
Chairman & CEO
COMPENSATION
CA$1M
AGE
54
TENURE
7 yrs

Shawn Van Spankeren

TITLE
Chief Financial Officer
COMPENSATION
CA$1M
AGE
46
TENURE
1.5 yrs

Dale Orton

TITLE
Chief Operating Officer
COMPENSATION
CA$751K
AGE
46
TENURE
1.7 yrs

Rob Wollmann

TITLE
Senior Vice President of Exploration
COMPENSATION
CA$320K
TENURE
1.7 yrs

Shannon Gangl

TITLE
Corporate Secretary
AGE
56
Board of Directors Tenure

Average tenure and age of the Cardinal Energy board of directors in years:

7
Average Tenure
54
Average Age
  • The tenure for the Cardinal Energy board of directors is about average.
Board of Directors

M. Ratushny

TITLE
Chairman & CEO
COMPENSATION
CA$1M
AGE
54
TENURE
7 yrs

Dave Johnson

TITLE
Independent Director
COMPENSATION
CA$149K
AGE
68
TENURE
7 yrs

John Brussa

TITLE
Independent Director
COMPENSATION
CA$149K
AGE
62
TENURE
7 yrs

Greg Tisdale

TITLE
Independent Director
COMPENSATION
CA$151K
AGE
49
TENURE
5.5 yrs

Stephanie Sterling

TITLE
Independent Director
COMPENSATION
CA$162K
AGE
51
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
08. Apr 19 Sell Dale Orton Individual 08. Apr 19 08. Apr 19 -8,660 CA$3.06 CA$-26,500
08. Apr 19 Buy Dale Orton Individual 08. Apr 19 08. Apr 19 8,660 CA$3.06 CA$26,500
26. Mar 19 Sell Gregory Tisdale Individual 18. Jan 19 18. Jan 19 -3,227 CA$2.44 CA$-7,874
19. Dec 18 Buy M. Ratushny Individual 19. Dec 18 19. Dec 18 5,000 CA$1.95 CA$9,750
18. Dec 18 Buy M. Ratushny Individual 17. Dec 18 18. Dec 18 10,000 CA$2.16 CA$20,569
18. Dec 18 Buy John Brussa Individual 18. Dec 18 18. Dec 18 41,000 CA$2.01 CA$82,410
17. Dec 18 Buy John Brussa Individual 14. Dec 18 14. Dec 18 4,650 CA$2.27 CA$10,556
13. Dec 18 Buy M. Ratushny Individual 13. Dec 18 13. Dec 18 30,100 CA$2.40 CA$72,240
12. Dec 18 Buy M. Ratushny Individual 12. Dec 18 12. Dec 18 69,900 CA$2.40 CA$167,760
21. Nov 18 Buy David Kelly Individual 20. Nov 18 20. Nov 18 14,100 CA$3.03 CA$42,723
18. Nov 18 Buy David Kelly Individual 16. Nov 18 16. Nov 18 17,900 CA$3.18 CA$56,922
14. Nov 18 Buy David Kelly Individual 14. Nov 18 14. Nov 18 13,200 CA$3.08 CA$40,656
09. Nov 18 Buy David Kelly Individual 09. Nov 18 09. Nov 18 7,400 CA$3.26 CA$24,124
31. Aug 18 Buy John Brussa Individual 30. Aug 18 30. Aug 18 80,000 CA$6.25 CA$500,000
30. Aug 18 Buy Shawn Van Spankeren Individual 30. Aug 18 30. Aug 18 16,000 CA$6.25 CA$100,000
30. Aug 18 Buy David Johnson Individual 30. Aug 18 30. Aug 18 56,000 CA$6.25 CA$350,000
30. Aug 18 Buy Robert Ernest Wollmann Individual 30. Aug 18 30. Aug 18 16,000 CA$6.25 CA$100,000
30. Aug 18 Buy M. Ratushny Individual 30. Aug 18 30. Aug 18 36,000 CA$6.25 CA$225,000
X
Management checks
We assess Cardinal Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cardinal Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why It Might Not Make Sense To Buy Cardinal Energy Ltd. (TSE:CJ) For Its Next Dividend

So we need to investigate whether Cardinal Energy can afford its dividend, and if the dividend could grow. … See our latest analysis for Cardinal Energy Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. … Cardinal Energy paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough cash to cover the dividend.

Simply Wall St -

Did Changing Sentiment Drive Cardinal Energy's (TSE:CJ) Share Price Down A Painful 86%?

During five years of share price growth, Cardinal Energy moved from a loss to profitability. … As it happens, Cardinal Energy's TSR for the last 5 years was -80%, which exceeds the share price return mentioned earlier. … Cardinal Energy is not the only stock insiders are buying.

Simply Wall St -

What Can We Make Of Cardinal Energy Ltd.’s (TSE:CJ) High Return On Capital?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Cardinal Energy: 0.084 = CA$97m ÷ (CA$1.2b - CA$75m) (Based on the trailing twelve months to March 2019.) Therefore, Cardinal Energy has an ROCE of 8.4%. … Do Cardinal Energy's Current Liabilities Skew Its ROCE? … Cardinal Energy has a low level of current liabilities, which have a minimal impact on its uninspiring ROCE.

Simply Wall St -

What Kind Of Shareholder Appears On The Cardinal Energy Ltd.'s (TSE:CJ) Shareholder Register?

Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … See our latest analysis for Cardinal Energy TSX:CJ Ownership Summary, May 17th 2019 What Does The Institutional Ownership Tell Us About Cardinal Energy? … General Public Ownership The general public, who are mostly retail investors, collectively hold 77% of Cardinal Energy shares.

Simply Wall St -

Is Cardinal Energy Ltd. (TSE:CJ) Potentially Underrated?

In the case of Cardinal Energy Ltd. … is a company that has been able to sustain great financial health, trading at an attractive share price. … report on Cardinal Energy here

Simply Wall St -

Is Cardinal Energy Ltd. (TSE:CJ) A Smart Choice For Dividend Investors?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Let's take a look at Cardinal Energy in more detail. … View our latest analysis for Cardinal Energy

Simply Wall St -

What Did Cardinal Energy Ltd.'s (TSE:CJ) CEO Take Home Last Year?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Ratushny's Compensation Compare With Similar Sized Companies. … is worth CA$316m, and total annual CEO compensation is CA$1.8m.

Simply Wall St -

What does Cardinal Energy Ltd.'s (TSE:CJ) Balance Sheet Tell Us About Its Future?

(TSE:CJ) is a small-cap stock with a market capitalization of CA$290m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes

Simply Wall St -

Do Institutions Own Cardinal Energy Ltd. (TSE:CJ) Shares?

Generally speaking, as a company grows, institutions will increase their ownership. … Cardinal Energy is a smaller company with a market capitalization of CA$288m, so it may still be flying under the radar of many institutional investors. … institutions own shares in the company.

Simply Wall St -

How Should Investors Feel About Cardinal Energy Ltd's (TSE:CJ) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Ratushny's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Cardinal Energy Ltd has a market cap of CA$300m, and is paying total annual CEO compensation of CA$1.8m?

Simply Wall St -

Company Info

Description

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan, Canada. It holds interests in the Midale, Wainwright, Mitsue, Bantry, and Grande Prairie properties. The company was incorporated in 2010 and is headquartered in Calgary, Canada.

Details
Name: Cardinal Energy Ltd.
CJ
Exchange: TSX
Founded: 2010
CA$273,018,669
115,197,751
Website: http://www.cardinalenergy.ca
Address: Cardinal Energy Ltd.
400-3rd Avenue SW,
Suite 600,
Calgary,
Alberta, T2P 4H2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CJ Common Shares The Toronto Stock Exchange CA CAD 17. Dec 2013
OTCPK CRLF.F Common Shares Pink Sheets LLC US USD 17. Dec 2013
DB C0Y Common Shares Deutsche Boerse AG DE EUR 17. Dec 2013
Number of employees
Current staff
Staff numbers
180
Cardinal Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 00:46
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.