Cardinal Energy
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
1 Year Returns
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.
Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Cardinal Energy.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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
Current Discount Checks
- 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?
| 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.
| 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?
| 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?
| 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 |
| 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.
Value checks
We assess Cardinal Energy's value by looking at:- 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. )
- 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)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Cardinal Energy's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Cardinal Energy Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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).
Past performance checks
We assess Cardinal Energy's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Cardinal Energy Company Filings, last reported 3 months ago.
| 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).
Financial health checks
We assess Cardinal Energy's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Cardinal Energy has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
CA$2,000 of
Cardinal Energy
shares you are expected to receive
CA$152
in your first year as a dividend.
Dividend Amount
- Cardinal Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.06%).
- Cardinal Energy's dividend is above the markets top 25% of dividend payers in Canada (5.75%).
Upcoming dividend payment
Purchase Cardinal Energy before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Canada Oil and Gas Industry Average Dividend Yield | Market Cap Weighted Average of 37 Stocks | 4.6% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 336 Stocks | 3.5% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CA$) | 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 |
| 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.
Income/ dividend checks
We assess Cardinal Energy's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- The average tenure for the Cardinal Energy management team is less than 2 years, this suggests a new team.
Management Team
M. Ratushny
Chairman & CEO
CA$1M
54
7 yrs
Shawn Van Spankeren
Chief Financial Officer
CA$1M
46
1.5 yrs
Dale Orton
Chief Operating Officer
CA$751K
46
1.7 yrs
Rob Wollmann
Senior Vice President of Exploration
CA$320K
1.7 yrs
Shannon Gangl
Corporate Secretary
56
Board of Directors Tenure
Average tenure and age of the Cardinal Energy board of directors in years:
- The tenure for the Cardinal Energy board of directors is about average.
Board of Directors
M. Ratushny
Chairman & CEO
CA$1M
54
7 yrs
Dave Johnson
Independent Director
CA$149K
68
7 yrs
John Brussa
Independent Director
CA$149K
62
7 yrs
Greg Tisdale
Independent Director
CA$151K
49
5.5 yrs
Stephanie Sterling
Independent Director
CA$162K
51
1.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | 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 | ||
Management checks
We assess Cardinal Energy's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleDid 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 - – Full articleWhat 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 - – Full articleWhat 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 - – Full articleIs 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 - – Full articleIs 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 - – Full articleWhat 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 - – Full articleWhat 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 - – Full articleDo 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 - – Full articleHow 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 - – Full articleCompany 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
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.
