Cardinal Energy (TSE:CJ) Issues Earnings Results

Cardinal Energy (TSE:CJ) announced its quarterly earnings results on Thursday. The company reported C($0.18) earnings per share for the quarter, FiscalAI reports. Cardinal Energy had a net margin of 14.36% and a return on equity of 8.44%. The business had revenue of C$109.19 million for the quarter.

Cardinal Energy Stock Up 0.4%

CJ opened at C$10.44 on Friday. The firm has a 50 day moving average price of C$9.33 and a 200-day moving average price of C$8.59. The company has a quick ratio of 0.67, a current ratio of 0.48 and a debt-to-equity ratio of 24.20. The stock has a market capitalization of C$1.81 billion, a price-to-earnings ratio of 21.75, a PEG ratio of -0.26 and a beta of 0.53. Cardinal Energy has a twelve month low of C$4.64 and a twelve month high of C$10.66.

Cardinal Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 16th will be issued a $0.06 dividend. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 6.9%. Cardinal Energy’s payout ratio is 150.00%.

Wall Street Analysts Forecast Growth

CJ has been the subject of a number of recent analyst reports. Raymond James Financial raised their price objective on Cardinal Energy from C$9.00 to C$9.50 and gave the company a “market perform” rating in a research report on Thursday, February 5th. Canadian Imperial Bank of Commerce upgraded Cardinal Energy from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from C$7.75 to C$11.00 in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their price target on Cardinal Energy from C$9.00 to C$9.50 and gave the company an “outperform” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cardinal Energy currently has an average rating of “Buy” and an average price target of C$10.00.

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.