Cardinal Energy (TSE:CJ) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Cardinal Energy Ltd. (TSE:CJ)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$10.44 and traded as high as C$11.41. Cardinal Energy shares last traded at C$11.25, with a volume of 1,528,093 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 price objective for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada lifted their price objective on shares of Cardinal Energy from C$9.50 to C$11.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. Raymond James Financial raised Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the stock from C$9.50 to C$13.00 in a report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce raised Cardinal Energy from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from C$7.75 to C$11.00 in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Energy currently has an average rating of “Buy” and an average target price of C$12.00.

Cardinal Energy Trading Down 3.6%

The firm’s 50 day moving average is C$10.46 and its 200 day moving average is C$9.22. The company has a market cap of C$1.88 billion, a PE ratio of 83.38, a PEG ratio of -0.26 and a beta of 0.16. 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 (TSE:CJ) last issued its quarterly earnings data on Thursday, March 12th. The company reported C($0.18) EPS for the quarter. The firm had revenue of C$109.19 million for the quarter. Cardinal Energy had a net margin of 4.22% and a return on equity of 2.35%. On average, equities analysts anticipate that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be given a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Thursday, April 30th. Cardinal Energy’s dividend payout ratio (DPR) is 553.85%.

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.