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

Cardinal Energy Ltd. (TSE:CJ) shares hit a new 52-week high on Monday . The stock traded as high as C$12.44 and last traded at C$12.40, with a volume of 151616 shares trading hands. The stock had previously closed at C$12.37.

Analysts Set New Price Targets

CJ has been the topic of several analyst reports. BMO Capital Markets raised shares of Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price on the stock in a research report on Tuesday, April 7th. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and upped their price target for the stock from C$7.75 to C$11.00 in a research note on Thursday, February 5th. Raymond James Financial raised Cardinal Energy from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$9.50 to C$13.00 in a report on Monday, March 30th. Finally, Royal Bank Of Canada raised their price objective on 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. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, Cardinal Energy currently has an average rating of “Buy” and a consensus price target of C$12.00.

Cardinal Energy Stock Up 1.0%

The stock has a market cap of C$2.18 billion, a P/E ratio of 97.08, a P/E/G ratio of -0.26 and a beta of 0.26. The company has a current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 29.09. The firm’s fifty day moving average is C$10.94 and its 200 day moving average is C$9.52.

Cardinal Energy (TSE:CJ) last released its quarterly earnings results on Thursday, March 12th. The company reported C($0.18) earnings per share (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%. As a group, equities research analysts forecast that Cardinal Energy Ltd. will post 0.625118 EPS for the current year.

Cardinal Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.7%. Cardinal Energy’s dividend payout ratio is presently 553.85%.

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.