Cardinal Energy (TSE:CJ) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Cardinal Energy (TSE:CJ) from a market perform rating to an outperform rating in a research report released on Tuesday,BayStreet.CA reports. The firm currently has C$13.00 target price on the stock.

A number of other brokerages also recently commented on CJ. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their price objective for the stock from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$9.50 to C$13.00 in a research report on Monday, March 30th. Finally, Royal Bank Of Canada upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Price Performance

Shares of CJ opened at C$11.92 on Tuesday. The company has a market cap of C$2.06 billion, a P/E ratio of 91.69, a PEG ratio of -0.26 and a beta of 0.16. The stock has a fifty day moving average price of C$10.15 and a 200 day moving average price of C$9.06. The company has a debt-to-equity ratio of 29.09, a current ratio of 0.54 and a quick ratio of 0.67. Cardinal Energy has a 12 month low of C$4.64 and a 12 month high of C$12.03.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) EPS 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%. On average, research analysts forecast that Cardinal Energy will post 0.625118 earnings per share for the current year.

Cardinal Energy Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a yield of 6.0%. Cardinal Energy’s dividend payout ratio (DPR) 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.