Cardinal Energy (TSE:CJ) Reaches New 52-Week High – Here’s Why

Shares of Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high on Monday . The stock traded as high as C$12.44 and last traded at C$12.40, with a volume of 151616 shares. The stock had previously closed at C$12.37.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CJ. Royal Bank Of Canada boosted 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 report on Monday, March 16th. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price objective for the company from C$7.75 to C$11.00 in a report on Thursday, February 5th. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$9.50 to C$13.00 in a research note on Monday, March 30th. Finally, BMO Capital Markets upgraded Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, Cardinal Energy currently has a consensus rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Stock Performance

The stock has a market cap of C$2.15 billion, a price-to-earnings ratio of 95.54, a price-to-earnings-growth ratio of -0.26 and a beta of 0.16. The company’s 50-day simple moving average is C$10.88 and its 200-day simple moving average is C$9.48. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 29.09.

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

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be given a $0.06 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Cardinal Energy’s dividend payout ratio (DPR) is 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.