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

Cardinal Energy Ltd. (TSE:CJ) shares hit a new 52-week high during trading on Monday after Raymond James Financial upgraded the stock from a hold rating to a moderate buy rating. Raymond James Financial now has a C$13.00 price target on the stock, up from their previous price target of C$9.50. Cardinal Energy traded as high as C$11.77 and last traded at C$11.54, with a volume of 660586 shares changing hands. The stock had previously closed at C$11.30.

Several other research analysts have also issued reports on the company. Royal Bank Of Canada upped their target price on Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research report on Monday, March 16th. Canadian Imperial Bank of Commerce raised Cardinal Energy from a “hold” rating to a “strong-buy” rating and raised their price target for the stock from C$7.75 to C$11.00 in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$11.67.

Cardinal Energy Stock Down 1.3%

The stock has a market capitalization of C$1.97 billion, a PE ratio of 87.46, a price-to-earnings-growth ratio of -0.26 and a beta of 0.53. The company has a debt-to-equity ratio of 29.09, a current ratio of 0.54 and a quick ratio of 0.67. The business’s fifty day moving average price is C$9.94 and its two-hundred day moving average price is C$8.94.

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

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders 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 dividend yield of 6.3%. Cardinal Energy’s dividend payout ratio is currently 553.85%.

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.