CIBC Boosts Cardinal Energy (TSE:CJ) Price Target to C$8.50

Cardinal Energy (TSE:CJ) had its target price boosted by CIBC from C$8.00 to C$8.50 in a report issued on Monday, BayStreet.CA reports. They currently have a neutral rating on the stock.

Several other equities research analysts also recently issued reports on the company. ATB Capital dropped their price objective on Cardinal Energy from C$9.50 to C$8.50 and set an outperform rating on the stock in a report on Thursday, January 18th. Raymond James dropped their price objective on Cardinal Energy from C$9.00 to C$8.50 and set a market perform rating on the stock in a report on Friday, January 19th.

Cardinal Energy Stock Performance

Cardinal Energy stock opened at C$7.21 on Monday. The stock’s 50 day moving average price is C$6.87 and its 200 day moving average price is C$6.75. The firm has a market capitalization of C$1.14 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of -0.26 and a beta of 2.99. The company has a debt-to-equity ratio of 5.44, a quick ratio of 0.67 and a current ratio of 0.54. Cardinal Energy has a one year low of C$5.75 and a one year high of C$7.96.

Cardinal Energy (TSE:CJ) last released its quarterly earnings results on Thursday, March 14th. The company reported C$0.13 EPS for the quarter, missing the consensus estimate of C$0.20 by C($0.07). Cardinal Energy had a return on equity of 11.22% and a net margin of 21.53%. The company had revenue of C$148.04 million for the quarter, compared to analyst estimates of C$147.60 million. As a group, sell-side analysts expect that Cardinal Energy will post 0.795302 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.99%. Cardinal Energy’s dividend payout ratio (DPR) is 110.77%.

Insider Activity

In other news, Senior Officer David Kelly sold 7,100 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of C$7.07, for a total value of C$50,214.75. In related news, Senior Officer David Kelly sold 7,100 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of C$7.07, for a total transaction of C$50,214.75. Also, Director John Albert Brussa acquired 27,000 shares of Cardinal Energy stock in a transaction that occurred on Thursday, April 4th. The shares were bought at an average price of C$6.99 per share, with a total value of C$188,670.60. Company insiders own 24.00% of the company’s stock.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.