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Cardinal Energy ( (TSE:CJ) ) has provided an update.
Cardinal Energy reported record fourth-quarter 2025 production of 23,514 boe/d, driven by the Reford SAGD project entering its production phase and resilient conventional output, keeping annual production flat at 21,870 boe/d despite a 24% reduction in conventional development capital. The company cut total 2025 capital expenditures by 25% to $77.7 million while directing $136.5 million of exploration and evaluation spending to Reford and future SAGD opportunities, reduced per-barrel operating costs, and maintained its dividend, but lower oil prices and higher interest and G&A costs pressured adjusted funds flow and pushed net debt to $281.9 million, increasing leverage to 1.4 times adjusted funds flow.
The most recent analyst rating on (TSE:CJ) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Cardinal Energy stock, see the TSE:CJ Stock Forecast page.
Spark’s Take on TSE:CJ Stock
According to Spark, TipRanks’ AI Analyst, TSE:CJ is a Outperform.
The score is driven primarily by solid financial performance (strong margins and cash generation despite recent TTM revenue/FCF softness and higher leverage versus prior periods). Technicals add support with price above key moving averages and neutral-to-slightly positive momentum. Valuation is helped by the high dividend yield, but a mid-to-high P/E for a cyclical business limits upside in this component.
To see Spark’s full report on TSE:CJ stock, click here.
More about Cardinal Energy
Cardinal Energy Ltd. is a Calgary-based oil and gas producer focused on light, medium and heavy oil, natural gas liquids and conventional natural gas, with core assets in Western Canada including thermal and enhanced oil recovery projects. The company targets stable, long-life production and returns to shareholders through dividends while managing capital spending and balance sheet leverage.
Average Trading Volume: 1,138,312
Technical Sentiment Signal: Buy
Current Market Cap: C$1.8B
See more insights into CJ stock on TipRanks’ Stock Analysis page.