Cardinal Energy (TSE:CJ) Reaches New 52-Week High – Here’s Why

Shares of Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high on Tuesday . The stock traded as high as C$13.38 and last traded at C$13.05, with a volume of 220048 shares. The stock had previously closed at C$12.88.

Analyst Upgrades and Downgrades

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

Cardinal Energy Stock Performance

The company has a market capitalization of C$2.28 billion, a PE ratio of 216.83, a PEG ratio of -0.26 and a beta of 0.26. The company has a 50 day moving average of C$11.39 and a two-hundred day moving average of C$9.81. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.69 and a quick ratio of 0.67.

Cardinal Energy (TSE:CJ) last released its earnings results on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%.The company had revenue of C$109.19 million during the quarter. As a group, equities research analysts predict that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Thursday, April 30th. Cardinal Energy’s dividend payout ratio is currently 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.