Cardinal Energy (TSE:CJ) Sets New 12-Month High – Here’s Why

Cardinal Energy Ltd. (TSE:CJ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$12.69 and last traded at C$12.42, with a volume of 318194 shares traded. The stock had previously closed at C$12.51.

Wall Street Analyst Weigh In

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

Cardinal Energy Stock Up 0.4%

The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 18.36. The stock has a market cap of C$2.18 billion, a P/E ratio of 207.33, a P/E/G ratio of -0.26 and a beta of 0.26. The company’s 50 day moving average price is C$11.28 and its two-hundred day moving average price is C$9.74.

Cardinal Energy (TSE:CJ) last released 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 return on equity of 1.14% and a net margin of 2.09%. As a group, research analysts expect that Cardinal Energy Ltd. will post 0.625118 earnings per share for the current year.

Cardinal Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 15th. Stockholders 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 dividend yield of 5.8%. Cardinal Energy’s dividend payout ratio (DPR) is currently 1,200.00%.

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.