Cardinal Energy (TSE:CJ) Sets New 52-Week High – What’s Next?

Shares of Cardinal Energy Ltd. (TSE:CJ) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$9.04 and last traded at C$9.03, with a volume of 726965 shares trading hands. The stock had previously closed at C$8.77.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CJ shares. Royal Bank Of Canada raised their price target on Cardinal Energy from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. CIBC raised their target price on Cardinal Energy from C$7.00 to C$8.25 in a report on Wednesday, October 15th. Finally, Raymond James Financial raised Cardinal Energy to a “hold” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$8.08.

Cardinal Energy Price Performance

The stock has a market capitalization of C$1.46 billion, a P/E ratio of 18.90, a PEG ratio of -0.26 and a beta of 0.29. The company’s 50 day simple moving average is C$7.96 and its two-hundred day simple moving average is C$7.20. The company has a debt-to-equity ratio of 8.05, a current ratio of 0.50 and a quick ratio of 0.67.

Cardinal Energy (TSE:CJ) last announced its earnings results on Thursday, November 6th. The company reported C$0.09 EPS for the quarter. The business had revenue of C$104.82 million for the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%. As a group, equities analysts expect that Cardinal Energy Ltd. will post 0.625118 EPS for the current fiscal year.

Cardinal Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 17th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 7.9%. Cardinal Energy’s dividend payout ratio (DPR) is presently 150.00%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, Director John Albert Brussa bought 15,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average cost of C$7.30 per share, with a total value of C$109,500.00. Following the completion of the purchase, the director owned 653,600 shares in the company, valued at approximately C$4,771,280. The trade was a 2.35% increase in their ownership of the stock. Also, insider David Kelly sold 41,430 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of C$7.91, for a total transaction of C$327,711.30. Following the completion of the transaction, the insider directly owned 122,624 shares of the company’s stock, valued at approximately C$969,955.84. The trade was a 25.25% decrease in their ownership of the stock. Insiders have purchased 33,500 shares of company stock worth $244,005 in the last three months. Insiders own 23.38% of the company’s stock.

Cardinal Energy Company Profile

Cardinal Energy Ltd is an oil-focused Canadian company. The company’s principal business activity is the acquisition, exploration, and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan.