Cardinal Energy (TSE:CJ) Releases Earnings Results

Cardinal Energy (TSE:CJ) announced its earnings results on Thursday. The company reported C($0.18) EPS for the quarter, FiscalAI reports. The business had revenue of C$109.19 million during the quarter. Cardinal Energy had a return on equity of 8.44% and a net margin of 14.36%.

Cardinal Energy Trading Up 0.4%

CJ stock traded up C$0.04 during midday trading on Thursday, reaching C$10.44. The stock had a trading volume of 1,364,146 shares, compared to its average volume of 1,291,992. The company has a quick ratio of 0.67, a current ratio of 0.48 and a debt-to-equity ratio of 24.20. Cardinal Energy has a twelve month low of C$4.64 and a twelve month high of C$10.66. The firm has a market cap of C$1.81 billion, a price-to-earnings ratio of 21.75, a PEG ratio of -0.26 and a beta of 0.53. The business has a fifty day simple moving average of C$9.29 and a two-hundred day simple moving average of C$8.58.

Cardinal Energy Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Raymond James Financial increased their target price on Cardinal Energy from C$9.00 to C$9.50 and gave the stock a “market perform” rating in a report on Thursday, February 5th. Royal Bank Of Canada lifted their price target on Cardinal Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce upgraded shares of 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 report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$10.00.

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.