Cardinal Energy (TSE:CJ) Sets New 12-Month High – Time to Buy?

Shares of Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$8.93 and last traded at C$8.83, with a volume of 911553 shares. The stock had previously closed at C$8.56.

Analyst Upgrades and Downgrades

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

Cardinal Energy Trading Down 1.4%

The business has a 50 day simple moving average of C$7.87 and a 200-day simple moving average of C$7.13. The stock has a market capitalization of C$1.39 billion, a price-to-earnings ratio of 15.75, a PEG ratio of -0.26 and a beta of 0.29. 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 released its quarterly earnings data on Thursday, November 6th. The company reported C$0.09 earnings per share for the quarter. Cardinal Energy had a return on equity of 11.24% and a net margin of 19.57%.The business had revenue of C$104.82 million for the quarter. As a group, equities analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 8.3%. Cardinal Energy’s dividend payout ratio is presently 130.91%.

Insider Activity

In other Cardinal Energy news, Director M. Scott Ratushny acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average price of C$7.25 per share, with a total value of C$108,750.00. Following the completion of the transaction, the director directly owned 2,988,256 shares in the company, valued at C$21,664,856. This trade represents a 0.50% increase in their position. Also, Director John Albert Brussa bought 15,000 shares of Cardinal Energy stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average price of C$7.30 per share, with a total value of C$109,500.00. Following the acquisition, the director directly owned 653,600 shares of the company’s stock, valued at C$4,771,280. The trade was a 2.35% increase in their position. Insiders acquired a total of 33,500 shares of company stock worth $244,005 in the last three months. Company 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.