Cardinal Energy (TSE:CJ) Sets New 1-Year High – What’s Next?

Cardinal Energy Ltd. (TSE:CJ)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$11.20 and last traded at C$11.17, with a volume of 220916 shares. The stock had previously closed at C$10.90.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Royal Bank Of Canada upped their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Finally, Raymond James Financial raised their target price 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. One research 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. According to MarketBeat.com, Cardinal Energy has an average rating of “Buy” and a consensus target price of C$10.50.

Cardinal Energy Price Performance

The company has a market cap of C$1.95 billion, a price-to-earnings ratio of 86.62, a PEG ratio of -0.26 and a beta of 0.53. The company has a 50-day simple moving average of C$9.64 and a 200-day simple moving average of C$8.77. The company has a debt-to-equity ratio of 29.09, a quick ratio of 0.67 and a current ratio of 0.54.

Cardinal Energy (TSE:CJ) last posted its quarterly earnings results on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. Cardinal Energy had a net margin of 4.22% and a return on equity of 2.35%. The business had revenue of C$109.19 million during the quarter. As a group, research analysts predict that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 6.4%. Cardinal Energy’s dividend payout ratio (DPR) is 553.85%.

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.