Cardinal Energy (TSE:CJ) Reaches New 12-Month High – What’s Next?

Shares of Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high on Tuesday. The company traded as high as C$13.47 and last traded at C$13.41, with a volume of 514,467 shares trading hands. The stock had previously closed at C$13.13.

Wall Street Analyst Weigh In

CJ has been the topic of several research reports. Raymond James Financial raised Cardinal Energy from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$12.00 to C$15.00 in a report on Wednesday, September 16th. Royal Bank Of Canada downgraded shares of Cardinal Energy from a “moderate buy” rating to a “hold” rating and increased their target price for the company from C$14.00 to C$14.50 in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$13.38.

Cardinal Energy Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 13.97. The stock has a market cap of C$2.36 billion, a PE ratio of 38.31, a P/E/G ratio of -0.26 and a beta of 0.24. The business’s 50-day moving average price is C$12.07 and its 200-day moving average price is C$11.68.

Cardinal Energy (TSE:CJ) last announced its earnings results on Tuesday, July 28th. The company reported C$0.38 earnings per share (EPS) for the quarter. Cardinal Energy had a return on equity of 6.96% and a net margin of 10.69%. The company had revenue of C$193.44 million for the quarter. As a group, equities research analysts expect that Cardinal Energy Ltd. will post 0.63 earnings per share for the current fiscal year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were given a dividend of $0.06 per share. The ex-dividend date was Friday, July 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.4%. Cardinal Energy’s dividend payout ratio (DPR) is 205.71%.

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.