Cardinal Energy (TSE:CJ) Upgraded by Raymond James Financial to “Outperform” Rating

Raymond James Financial upgraded shares of Cardinal Energy (TSE:CJ) from a market perform rating to an outperform rating in a report published on Monday,BayStreet.CA reports. Raymond James Financial currently has C$13.00 price target on the stock, up from their previous price target of C$9.50.

A number of other brokerages have also commented on CJ. Canadian Imperial Bank of Commerce upgraded shares of Cardinal Energy from a “hold” rating to a “strong-buy” rating and lifted their price target for the stock from C$7.75 to C$11.00 in a report on Thursday, February 5th. Royal Bank Of Canada increased their price objective 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 investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Energy currently has a consensus rating of “Buy” and an average target price of C$11.67.

Cardinal Energy Stock Performance

Shares of TSE:CJ opened at C$11.52 on Monday. Cardinal Energy has a 1 year low of C$4.64 and a 1 year high of C$11.77. The stock has a market capitalization of C$1.99 billion, a price-to-earnings ratio of 88.62, a price-to-earnings-growth ratio of -0.26 and a beta of 0.53. 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 company’s 50 day simple moving average is C$9.89 and its 200 day simple moving average is C$8.91.

Cardinal Energy (TSE:CJ) last issued its quarterly earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share (EPS) for the quarter. The business had revenue of C$109.19 million during the quarter. Cardinal Energy had a net margin of 4.22% and a return on equity of 2.35%. As a group, research analysts predict that Cardinal Energy will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 16th were given a $0.06 dividend. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 6.3%. Cardinal Energy’s payout ratio is presently 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.