Royal Bank Of Canada Cuts Cardinal Energy (TSE:CJ) Price Target to C$13.50

Cardinal Energy (TSE:CJ) had its target price lowered by Royal Bank Of Canada from C$14.00 to C$13.50 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. Raymond James Financial upgraded shares of Cardinal Energy from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from C$9.50 to C$13.00 in a report on Monday, March 30th. BMO Capital Markets raised Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price objective on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$12.62.

Cardinal Energy Trading Up 0.3%

Shares of Cardinal Energy stock opened at C$10.77 on Wednesday. The firm’s 50 day moving average is C$11.48 and its 200 day moving average is C$10.62. The firm has a market capitalization of C$1.89 billion, a PE ratio of 179.50, a price-to-earnings-growth ratio of -0.26 and a beta of 0.20. Cardinal Energy has a 1 year low of C$6.95 and a 1 year high of C$13.38. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 18.36.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.06 EPS for the quarter. Cardinal Energy had a net margin of 2.09% and a return on equity of 1.14%. The business had revenue of C$143.22 million during the quarter. Equities research analysts forecast that Cardinal Energy will post 0.625118 earnings per share for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, July 31st. Cardinal Energy’s payout ratio is presently 1,200.00%.

Insider Transactions at Cardinal Energy

In other news, insider Kenneth Cory Lee Younger sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the transaction, the insider owned 129,338 shares of the company’s stock, valued at approximately C$1,634,832.32. This trade represents a 16.20% decrease in their ownership of the stock. Company insiders own 23.38% of the company’s stock.

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.