Cardinal Energy (TSE:CJ) Hits New 12-Month High After Analyst Upgrade

Shares of Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$9.50 to C$11.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cardinal Energy traded as high as C$10.74 and last traded at C$10.70, with a volume of 265959 shares. The stock had previously closed at C$10.55.

CJ has been the subject of several other reports. Canadian Imperial Bank of Commerce upgraded shares of 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. Raymond James Financial raised their price target on Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$10.50.

Cardinal Energy Stock Up 1.4%

The company has a debt-to-equity ratio of 29.09, a quick ratio of 0.67 and a current ratio of 0.54. The stock’s 50 day moving average price is C$9.40 and its 200-day moving average price is C$8.65. The company has a market cap of C$1.86 billion, a PE ratio of 22.29, a PEG ratio of -0.26 and a beta of 0.53.

Cardinal Energy (TSE:CJ) last issued its earnings results on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. The business had revenue of C$109.19 million during the quarter. Cardinal Energy had a return on equity of 2.35% and a net margin of 4.22%. On average, 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 Monday, March 16th. Investors of record on Monday, March 16th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 6.7%. Cardinal Energy’s dividend payout ratio is currently 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.