Cardinal Energy (TSE:CJ) Hits New 1-Year High After Analyst Upgrade

Cardinal Energy Ltd. (TSE:CJ)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$9.50 to C$11.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cardinal Energy traded as high as C$10.74 and last traded at C$10.70, with a volume of 265959 shares traded. The stock had previously closed at C$10.55.

CJ has been the topic of a number of other research reports. Raymond James Financial increased their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the stock a “market perform” rating in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their price target for the company from C$7.75 to C$11.00 in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Cardinal Energy presently has a consensus rating of “Buy” and an average target price of C$10.50.

Cardinal Energy Price Performance

The firm has a market capitalization of C$1.86 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of -0.26 and a beta of 0.53. The company has a debt-to-equity ratio of 29.09, a quick ratio of 0.67 and a current ratio of 0.54. The business has a 50 day simple moving average of C$9.40 and a two-hundred day simple moving average of C$8.65.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share (EPS) for the quarter. Cardinal Energy had a net margin of 4.22% and a return on equity of 2.35%. The business had revenue of C$109.19 million for the quarter. On average, sell-side analysts expect that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Friday, February 27th. Cardinal Energy’s dividend payout ratio (DPR) is currently 150.00%.

About Cardinal Energy

Cardinal is a Canadian oil and natural gas production company with operations focused on low decline sustainable oil production in Western Canada. Cardinal has recently completed its first thermal SAGD project in Reford, Saskatchewan and has transitioned to the production phase of operations. The Company’s portfolio of conventional and SAGD project inventory offers a complimentary low decline, long life resource base that is ideally suited to sustain our commitment to meaningful dividend returns to shareholders.