Cardinal Energy (TSE:CJ) Issues Earnings Results

Cardinal Energy (TSE:CJ) announced its quarterly earnings data on Tuesday. The company reported C$0.38 earnings per share for the quarter, FiscalAI reports. Cardinal Energy had a return on equity of 1.14% and a net margin of 2.09%.The business had revenue of C$193.44 million for the quarter.

Cardinal Energy Trading Down 1.2%

Shares of Cardinal Energy stock opened at C$11.07 on Wednesday. The firm has a market capitalization of C$1.94 billion, a PE ratio of 184.50, a P/E/G ratio of -0.26 and a beta of 0.20. Cardinal Energy has a twelve month low of C$6.95 and a twelve month high of C$13.38. The firm’s 50-day moving average price is C$11.28 and its 200 day moving average price is C$10.76. 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 Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Friday, July 31st. Cardinal Energy’s dividend payout ratio is 1,200.00%.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, insider Kenneth Cory Lee Younger sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the completion of the sale, the insider directly owned 129,338 shares in the company, valued at approximately C$1,634,832.32. The trade was a 16.20% decrease in their position. Insiders own 23.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets raised shares of 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. Royal Bank Of Canada reduced their target price on shares of Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$12.62.

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.