Cardinal Energy (TSE:CJ) Reaches New 1-Year High – Here’s Why

Cardinal Energy Ltd. (TSE:CJ)’s stock price reached a new 52-week high on Tuesday. The stock traded as high as C$13.47 and last traded at C$13.41, with a volume of 514,467 shares traded. The stock had previously closed at C$13.13.

Analyst Upgrades and Downgrades

Several brokerages have commented on CJ. Royal Bank Of Canada decreased their price objective on shares of Cardinal Energy from C$14.00 to C$13.50 in a research note on Wednesday, July 15th. Raymond James Financial raised shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$12.00 to C$15.00 in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, Cardinal Energy presently has a consensus rating of “Buy” and an average price target of C$13.12.

Cardinal Energy Stock Up 2.1%

The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 13.97. The business has a 50-day moving average price of C$11.97 and a 200-day moving average price of C$11.65. The firm has a market capitalization of C$2.36 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of -0.26 and a beta of 0.24.

Cardinal Energy (TSE:CJ) last issued its earnings results on Tuesday, July 28th. The company reported C$0.38 earnings per share (EPS) for the quarter. Cardinal Energy had a return on equity of 6.96% and a net margin of 10.69%. The business had revenue of C$193.44 million during the quarter. Equities research analysts forecast that Cardinal Energy Ltd. will post 0.63 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.72 annualized dividend and a yield of 5.4%. Cardinal Energy’s dividend payout ratio (DPR) is 205.71%.

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.