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The latest announcement is out from Cardinal Energy ( (TSE:CJ) ).
Cardinal Energy has increased the size of its previously announced bought-deal equity financing to $95.15 million, with underwriters led by RBC Capital Markets and CIBC Capital Markets purchasing 11 million common shares at $8.65 each, and an over-allotment option that could lift total proceeds to approximately $104.67 million. The upsizing, driven by strong investor demand, underscores continued market appetite for Cardinal’s equity and provides additional capital flexibility ahead of its February 4, 2026 expected closing; however, new investors in this offering will not receive the February 17, 2026 dividend tied to the January 30 record date, and the deal remains subject to customary regulatory approvals, including from the TSX.
The most recent analyst rating on (TSE:CJ) stock is a Hold with a C$9.00 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 listed on the Toronto Stock Exchange, focused on conventional Canadian petroleum assets and serving investors seeking exposure to the domestic energy sector and its associated dividend income.
Average Trading Volume: 811,918
Technical Sentiment Signal: Buy
Current Market Cap: C$1.51B
Learn more about CJ stock on TipRanks’ Stock Analysis page.