Cardinal Energy (TSE:CJ) Posts Quarterly Earnings Results

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

Cardinal Energy Stock Up 3.8%

Shares of CJ stock opened at C$11.49 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 18.36. The stock has a market cap of C$2.01 billion, a P/E ratio of 191.50, a P/E/G ratio of -0.26 and a beta of 0.20. Cardinal Energy has a 12 month low of C$6.95 and a 12 month high of C$13.38. The company has a 50 day simple moving average of C$11.26 and a two-hundred day simple moving average of C$10.78.

Cardinal Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, July 31st. Cardinal Energy’s payout ratio is currently 1,200.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CJ. Royal Bank Of Canada decreased their price objective on shares of Cardinal Energy from C$14.00 to C$13.50 in a report on Wednesday, July 15th. BMO Capital Markets raised Cardinal Energy from a “hold” rating to an “outperform” rating and set a C$13.00 target price for the company in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$12.62.

Insider Buying and Selling

In related news, insider Kenneth Cory Lee Younger sold 25,000 shares of Cardinal Energy stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$12.64, for a total transaction of C$316,000.00. Following the transaction, the insider 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.

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.