Cardinal Energy (TSE:CJ) Hits New 1-Year High After Analyst Upgrade

Shares of Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during mid-day trading on Monday after Raymond James raised their price target on the stock from C$8.00 to C$9.00. The company traded as high as C$7.39 and last traded at C$7.35, with a volume of 80599 shares changing hands. The stock had previously closed at C$7.36.

Cardinal Energy Stock Performance

The firm has a market cap of C$1.14 billion, a price-to-earnings ratio of 6.01, a price-to-earnings-growth ratio of -0.26 and a beta of 3.12. The stock’s 50 day moving average is C$7.10 and its 200 day moving average is C$7.05. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26.

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 9.99%. Cardinal Energy’s dividend payout ratio (DPR) is currently 60.00%.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.