Cardinal Energy (TSE:CJ) Sets New 12-Month High on Analyst Upgrade

Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high during mid-day trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$9.50 to C$11.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cardinal Energy traded as high as C$10.74 and last traded at C$10.70, with a volume of 265959 shares. The stock had previously closed at C$10.55.

Several other research analysts have also recently weighed in on the stock. Canadian Imperial Bank of Commerce raised shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price target for the company from C$7.75 to C$11.00 in a report on Thursday, February 5th. Raymond James Financial boosted their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the stock a “market perform” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Cardinal Energy presently has a consensus rating of “Buy” and a consensus price target of C$10.50.

Cardinal Energy Price Performance

The firm’s 50 day moving average price is C$9.44 and its two-hundred day moving average price is C$8.67. 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 stock has a market cap of C$1.85 billion, a PE ratio of 22.21, a P/E/G ratio of -0.26 and a beta of 0.53.

Cardinal Energy (TSE:CJ) last announced 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 for the quarter. On average, research analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 16th were issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, February 27th. Cardinal Energy’s dividend payout ratio (DPR) is presently 150.00%.

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.