Cardinal Energy (TSE:CJ) Price Target Raised to C$11.00

Cardinal Energy (TSE:CJ) had its target price increased by Royal Bank Of Canada from C$9.50 to C$11.00 in a research report sent to investors on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

CJ has been the topic of several other research reports. Canadian Imperial Bank of Commerce raised shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and raised their target price for the company from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Raymond James Financial upped their price target on shares of Cardinal Energy from C$9.00 to C$9.50 and gave the stock a “market perform” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$10.50.

Cardinal Energy Trading Up 1.7%

TSE:CJ opened at C$10.84 on Monday. Cardinal Energy has a 1 year low of C$4.64 and a 1 year high of C$10.86. The stock has a market cap of C$1.88 billion, a price-to-earnings ratio of 83.38, a PEG ratio of -0.26 and a beta of 0.53. The business has a fifty day moving average of C$9.49 and a 200-day moving average of C$8.69. The company has a debt-to-equity ratio of 29.09, a quick ratio of 0.67 and a current ratio of 0.54.

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

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were issued a $0.06 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 6.6%. Cardinal Energy’s dividend payout ratio is 553.85%.

Cardinal Energy Company Profile

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.