Cardinal Energy (TSE:CJ) Hits New 12-Month High – What’s Next?

Cardinal Energy Ltd. (TSE:CJ)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$10.32 and last traded at C$10.32, with a volume of 149570 shares changing hands. The stock had previously closed at C$10.16.

Wall Street Analysts Forecast Growth

CJ has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Cardinal Energy from C$9.00 to C$9.50 and gave the stock an “outperform” rating in a research report 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. Finally, Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their target price for the stock from C$7.75 to C$11.00 in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$10.00.

Cardinal Energy Stock Up 2.5%

The company has a market capitalization of C$1.81 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of -0.26 and a beta of 0.53. The company has a quick ratio of 0.67, a current ratio of 0.48 and a debt-to-equity ratio of 24.20. The business has a 50-day moving average price of C$9.26 and a 200-day moving average price of C$8.56.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 16th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 6.9%. Cardinal Energy’s dividend payout ratio is presently 150.00%.

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.