ATHOF - Cardinal Energy: Safest Yield In The Canadian Energy Sector
Cardinal Energy (CRLFF) will report its second quarter in early August and we thought it would be helpful to review Q1 and discuss several upcoming catalysts for the stock. We have been long Cardinal and have a cost base of around C$4.77. The stock suffered a major re-rating when it announced the light oil acquisition, an unfortunately timed acquisition. The market was very difficult in late 2016 and any company announcing acquisition was punished by the market. Cardinal has not been able to recover its lost ground despite several other Canadian O&G companies