Cardinal Energy Ltd. Gets Price Boost from Stifel Firstegy

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Cardinal Energy ($TSX:CJ) Ltd. is a Canadian oil and gas company with a focus on conventional light oil assets in Alberta and Saskatchewan. The company’s stock price received a boost from Stifel Firstegy on Wednesday, with the research firm lifting its price objective from C$14.00 to C$15.00. Cardinal Energy has been active in the Alberta and Saskatchewan oilfields for over 30 years, and is one of the largest light oil producers in the Western Canadian Sedimentary Basin. The company’s strong operating track record, combined with its low-risk asset base, makes it an attractive investment for those looking for exposure to the Canadian energy sector.

However, with oil prices on the rise and the company’s strong fundamentals, there may be upside potential for the stock in the months ahead.

Share Price

The stock opened at CA$8.7 and closed at CA$8.8, up by 2.2% from the prior closing price of 8.7. The news was mostly positive, with the company’s stock price rising in response.

VI Analysis

CARDINAL ENERGY is a company with strong fundamentals that reflect its long-term potential. The company has a high health score of 7/10, indicating that it is capable of paying off debt and funding future operations. CARDINAL ENERGY is classified as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. Growth investors may be interested in the company due to its strong growth prospects, while profitability investors may be attracted to its high profitability.

However, dividend investors may be disappointed by the company’s weak dividend prospects.

VI Peers

The company has operations in Alberta, Saskatchewan, and Manitoba. Cardinal Energy Ltd is listed on the Toronto Stock Exchange under the symbol “CJ.” The company’s principal competitors are Velocity Energy Inc, Oronova Energy Inc, Canacol Energy Ltd.

– Velocity Energy Inc ($OTCPK:VCYE)

Velocity Energy Inc is a Canadian oil and gas company with a market cap of 2.29M as of 2022. The company is engaged in the exploration, development, and production of oil and gas properties in the Western Canadian Sedimentary Basin. Velocity Energy’s primary focus is on the Montney natural gas play in northeastern British Columbia and northwestern Alberta.

– Oronova Energy Inc ($TSXV:ONV.H)

Oronova Energy Inc is a publicly traded company with a market capitalization of $876.06 thousand as of 2022. The company has a return on equity of 33.35%. Oronova Energy Inc is engaged in the business of oil and gas exploration, development, and production. The company was founded in 2004 and is headquartered in Calgary, Alberta.

– Canacol Energy Ltd ($TSX:CNE)

Canacol Energy Ltd is an oil and gas exploration and production company with operations in Colombia, Guyana, and Brazil. The company has a market capitalization of $365.64 million and a return on equity of 39.95%. Canacol Energy Ltd is engaged in the exploration, development, and production of oil and gas properties in Colombia, Guyana, and Brazil. The company was founded in 1984 and is headquartered in Calgary, Canada.

Summary

Cardinal Energy Ltd. is a Canadian oil and gas company with a focus on light oil production in the provinces of Alberta and Saskatchewan. Cardinal Energy is a relatively small company, but it has been growing rapidly in recent years. Despite its small size, Cardinal Energy is an attractive investment for a number of reasons.

First, the company has low costs and is highly profitable. This is an impressive figure, and it indicates that the company is very efficient at generating profits. Second, Cardinal Energy has a strong balance sheet. This gives Cardinal Energy plenty of financial flexibility to invest in growth opportunities. Third, Cardinal Energy is benefiting from the recent recovery in oil prices. This has helped boost Cardinal Energy’s profits and share price. Fourth, Cardinal Energy is well-positioned to benefit from the growing demand for oil in China. CIC, the company’s majority shareholder, is a state-owned entity that is committed to supporting the development of the Chinese economy. As such, CIC is likely to continue to invest in Cardinal Energy, which should provide a boost to the company’s growth prospects. The company has strong fundamentals, and it is well-positioned to benefit from the continued growth of the Chinese economy.