Cardinal Energy (TSE:CJ) Trading 6.1% Higher

Shares of Cardinal Energy Ltd. (TSE:CJGet Rating) traded up 6.1% on Tuesday . The company traded as high as C$8.17 and last traded at C$8.16. 645,122 shares changed hands during trading, a decline of 53% from the average session volume of 1,374,948 shares. The stock had previously closed at C$7.69.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price target on Cardinal Energy from C$12.25 to C$13.00 in a report on Tuesday, August 2nd. CIBC boosted their target price on Cardinal Energy from C$10.00 to C$11.00 in a research note on Tuesday, August 2nd. Finally, Raymond James boosted their target price on Cardinal Energy from C$9.50 to C$10.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd.

Cardinal Energy Stock Down 2.5 %

The business has a 50-day simple moving average of C$8.16 and a two-hundred day simple moving average of C$7.91. The company has a market cap of C$1.24 billion and a price-to-earnings ratio of 2.81. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 8.17.

Cardinal Energy (TSE:CJGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported C$0.63 earnings per share for the quarter, topping the consensus estimate of C$0.43 by C$0.20. The business had revenue of C$228.92 million for the quarter. As a group, equities analysts forecast that Cardinal Energy Ltd. will post 2 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.60 annualized dividend and a yield of 7.58%. Cardinal Energy’s dividend payout ratio (DPR) is 1.77%.

Insider Buying and Selling at Cardinal Energy

In other news, Director John Albert Brussa purchased 10,000 shares of the business’s stock in a transaction on Monday, June 20th. The stock was purchased at an average price of C$7.60 per share, with a total value of C$76,000.00. Following the acquisition, the director now directly owns 3,576,354 shares in the company, valued at approximately C$27,180,290.40.

About Cardinal Energy

(Get Rating)

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of crude oil and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. It has total proved plus probable oil and gas reserves of 110,391 thousand barrels of oil equivalent. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.

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