Cardinal Energy (TSE:CJ) Sets New 52-Week High – Still a Buy?

Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$12.69 and last traded at C$12.42, with a volume of 318194 shares traded. The stock had previously closed at C$12.51.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CJ shares. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$9.50 to C$13.00 in a report on Monday, March 30th. Royal Bank Of Canada lifted their target price on Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. BMO Capital Markets raised Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price target on the stock in a report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce raised shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from C$7.75 to C$11.00 in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Stock Performance

The firm’s 50 day simple moving average is C$11.18 and its 200 day simple moving average is C$9.68. The firm has a market cap of C$2.18 billion, a PE ratio of 207.17, a PEG ratio of -0.26 and a beta of 0.26. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 18.36.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) earnings per share for the quarter. The firm had revenue of C$109.19 million for the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. On average, research analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Cardinal Energy’s dividend payout ratio (DPR) is presently 1,200.00%.

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.