Cardinal Energy (TSE:CJ) Reaches New 1-Year High – Time to Buy?

Cardinal Energy Ltd. (TSE:CJ) shares 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.

Wall Street Analysts Forecast Growth

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

Cardinal Energy Stock Down 0.6%

The stock has a market cap of C$2.18 billion, a PE ratio of 207.17, a price-to-earnings-growth ratio of -0.26 and a beta of 0.26. The business has a fifty day moving average of C$11.18 and a 200-day moving average of C$9.68. 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 quarterly earnings data 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 firm had revenue of C$109.19 million for the quarter. Equities research analysts anticipate that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Announces Dividend

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

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.